While Bitcoin (BTC) and the greater cryptocurrency market have changed trends, are breaking through resistance, and are hitting new yearly highs, Ripple’s cryptocurrency has failed to gain momentum. In fact, XRP has been hovering around $0.30 in what seems to be forever.
It’s as if XRP is sleeping while the rest of the market is partying. However, XRP is not sleeping quietly.
There has been a tremendous number of very positive developments that the price has yet to reflect, indicating that XRP is a sleeping giant and when it wakes, it’s set to explode in adoption and price.
XRP Is Ready To Explode
While 2019 has not been kind to XRP’s price action, the number of developments and partnerships achieved by the project make Ripple’s XRP extremely hard to ignore. With institutions such as the World Bank, IMF, and EU Commission on board and actively working with Ripple, XRP is seemingly unstoppable.
By actively working with these institutions, Ripple is laying the groundwork for the entire cryptocurrency industry to flourish in the years to come. They are breaking down boundaries between blockchain technology and the traditional financial world and establishing themselves as an industry leader in the process.
For instance, in March 2019, Ripple’s XRP-powered xRapid remittance product was highlighted by the World Bank in an article about improving remittances services and blockchain technology.
They even praised Ripple’s xRapid pilot program in the US-Mexico corridor, noting that involved financial institutions saved between 40-70% on foreign exchange rates and drove payment times down to around 2 minutes, as opposed to a few days.
Furthermore, Ripple co-founder Chris Larsen was selected by the IMF to join an IMF panel that focuses on fintech innovation and the different ways blockchain technology can streamline procedures in the financial landscape.
Yet another groundbreaking development is that in April 2019, the EU Commission announced the launch of the Internation Association of Trusted Blockchain Applications (INATBA), an association of which Ripple is one of the founding members.
The aforementioned partnerships and developments just scratch the surface of what Ripple has already accomplished and been up to thus far in 2019.
While Ripple’s XRP token has not been directly affected just yet, everything is slowly coming together to massively impact the adoption of XRP. For instance, as reported by IIB, Ripple’s xCurrent 4.0 upgrade is now live, enabling all of Ripple’s 200+ institutional clients that use xCurrent to now utilize XRP through xRapid.
All in all, these aforementioned partnerships and developments are extremely bullish, yet XRP continues to hover around $0.30, as it has for months on end. While some people view this as a bad thing, they couldn’t be more wrong.
Think of it like this: Ripple’s XRP is providing the market with the accumulation phase – at near all-time low prices – that Bitcoin never did.
With XRP sleeping while Bitcoin and other cryptos are booming, it’s an excellent opportunity to be accumulating before this sleeping giant wakes up and the real bull market begins.
Are you accumulating XRP at these low prices? When do you think all of the XRP developments will be reflected in the market? Let us know what you think in the comment section below.