An XRP advocate and investor causes a stir on Reddit by testing his own loyalty to Ripple
A longtime Ripple fan and XRP investor is going viral on Reddit after saying he's worried about the future of the third-largest crypto asset on the market. His post, titled "Long-Term Hodler Losing Confidence," shot to the top of the r / Ripple subreddit.
The operator questions the level of adoption of XRP among financial institutions and whether Ripple's crypto-based payments product, called On Demand Liquidity (ODL), it will increase the price of the cryptocurrency. In particular, it says that comments made by Ripple executives, including CEO Brad Garlinghouse, stating that a significant number of banks would use XRP, have yet to materialize.
No products found.
Ripple questioned by its faithful
He himself began by questioning the actions of the principals. Garlinghouse and Schwartz mentioned that dozens of banks would be using XRP, Ripple would be working with major household names, but two years have passed and very little public has been made. Perhaps the developments continue to happen behind the screens, but so far the ODL use cases have not had any positive impact on the price and XRP continues to move forward along with BTC. It explained.
The investor said he first bought XRP in 2017 and says he has no plans to sell. The main response to investor criticism indicates a more positive trend: increasing volume of Ripple's XRP-based liquidity product.
Ripple has publicly stated (XRP 2019 Q4 Markets Report) that they are going to introduce a new market in Latin America, Asia-Pacific and Europe in 2020 ... Cryptocurrency holders have been highly engaged for several years. To be frank, XRP is the only asset that meets its use case in Production on any scale today.
Ripple raised $ 200 million in a Series C funding round in December and says it will use the funds to grow its XRP-based remittance platform, drive development on the XRP Ledger, onboard new talent, and better serve its customers. .
XRP is outperforming traditional markets in 2020. It started the year at $ 0.1936, spiked to $ 0.3372 during the bull run in February, and then returned to January levels. The digital asset is currently trading at $ 0.1938 at press time.
