The fact that Bitcoin hasn’t capitulated yet is quite an impressive milestone in its own regard. Because of this ongoing trend, alternative markets are rising in value accordingly. The XRP price is not budging all that much, though, and it seems likely it will drop back to #3 in the market cap rankings fairly soon.
XRP Price Remains at a Standstill
Positive Bitcoin price momentum usually bodes well for alternative currencies. In the cryptocurrency world, that is usually the unwritten rule. This weekend has proven that is not necessarily always the case. Several markets lose value in Bitcoin or fail to note any real gains of their own. XRP is, surprisingly, one of those markets which simply needs to catch its breath.
Although today will not be a repeat of yesterday, the Bitcoin value is still rising. Over the past few months, that has proven to be problematic for XRP. With a 0% change in USD value and a 1.53% loss over Bitcoin, it appears Ripple’s native asset isn’t moving much. It also lost the $0.31 level again. At this rate, Ethereum will reclaim the second spot in market cap rankings without much effort.
It would appear a few interesting developments have taken place behind the scenes of XRP once again. Supaahiro decided to set up an XRP ledger validator, a process which is seemingly pretty straightforward. As such, this new validator is now live on the network and can be used by anyone without too many problems. More validators will lead to even further decentralization of this ledger over time.
I've heard that ripple controls who gets to be a validator in the XRP ledger. Out of curiosity, I decided to set-up and run one:https://t.co/5mTM44lUIT#xrp #xrpthestandard #fudbuster #rippled #ripple
— Supaahiro (@Supaahiro1) February 9, 2019
Secondly, one of the peer-to-peer services using XRP – alongside other major cryptocurrencies – is planning to expand to 20 additional countries soon. XCh4nge is quite intent on bringing its supported currencies to the masses in this regard. Although this may not impact the price all that much, it is still a noteworthy development to take into account.
https://twitter.com/XCH4NGE/status/1094280154975780864
When gauging the overall XRP sentiment, it would appear there is still positivity in bunches. Barry Curley is convinced XRP will see success “eventually”, although it is difficult to pinpoint an exact date. For other assets, tokens, and currencies, success is all but guaranteed at this point. The coming years will undoubtedly prove very interesting for many different reasons.
Holding a crypto should be a “for now” mind set. Shit show or fortune can lie around any corner. For me, XRP does not fall into this category. It’s a when, not if situation. @Dave_Jonez_02 @CryptoPennyCO @LeeR912 @BGIradji #XRP #Ripple
— Barry Curley (@blcurley) February 9, 2019
Although the price doesn’t necessarily reflect it, there is absolutely nothing wrong with XRP in its current state. Community members remain excited and services offering exposure to XRP are expanding in an aggressive manner. That is all one can ask for at this time. None of this will seemingly impact the value per XRP, but building the ecosystem for the future is still valuable.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
Image(s): Shutterstock.com