Ripple XRP shares the same market situation with other digital currencies, as the market is sloping down after maintaining slight stability without a definite price acceleration or retardation. XRP has received a host of bullish predictions in the past, which haven’t actually come to pass.
On this note, Kieran Kelly, a diehard lover of the digital currency has recently highlighted why XRP has failed to initiate a successful Bull Run since it last recorded its price hallmark.
Ripple XRP, the 3rd largest digital currency, attained its price All Time High of $3.84 on 4th January 2018. The price was later battered by bear market in the same year, when the prices of all cryptocurrencies, including the largest digital currency by market cap, Bitcoin (BTC), went abjectly plummet.
Ever since, Ripple XRP has not experienced any notable price upsurge, which has been the most anticipated development the XRP community members are patiently waiting for on daily basis.
It is most advisable for Ripple XRP to maintain a consistent price growth without major reliance on Bitcoin price uptrend. However, since the dominance still exists, the digital currency should have totally replicated BTC’s upward trend as much as it does when it crashes, but this has changed a bit lately.
If we give the recent price crash experienced by Bitcoin a close look, it would be noticed that the greatest unnoticed negative impact was on other digital currencies, including Ripple XRP. Whereas, when BTC was enjoying its price uptrend, altcoins failed to replicate.
To increase the liquidity of XRP, which is economically advisable, Ripple, the US-based Payment Company that oversees remittances and cross-border transactions, staked millions of dollars in its recent partnership with MoneyGram.
The deal is expected to greatly impact the digital currency in all spheres necessary. The benefits XRP stands to gain if it passes the big test were recently highlighted on this news channel.
Ripple XRP touched $0.49 before the market crackdown occurred few days ago. At press time, XRP is trading at $0.40, with 3.2% loss in the last 24 hours, while Bitcoin (BTC) continues to change hands close to 10,000 range.
Kieran Kelly Points to Major Reasons Why Ripple XRP is Not Pumping at the Moment
An XRP enthusiast was the first to call the attention of the crypto sphere to the damage initiated by those he tagged as “so-called long-term holders”, who keep hyping and spreading fake predictions about XRP without realising the negative impact it piles on the growth of the cryptocurrency eventually.
He pointed that the same set of people continues to repeat the same mistake without looking back.
Read his statement below:
“I’m a bit amazed by the amount of so called ‘long-term’ holders who only seem to be able to push out hypes & fake news (e.g. short plays) not understanding the ultimate effect of it on the long run and yet they keep repeating this mistakes hoping one day it will ‘work’. It won’t.”
Kieran Kelly, a crypto trader and diehard XRP enthusiast responded by concurring to his points. He also added that the digital asset has continuously failed to experience price surge because some community members hyped the cryptocurrency to the point of not knowing the major difference between reality and fantasy.
Kelly pointed to an outrageous prediction of $589 before the end of 2018, which was later greeted with damning bear market. This he said eventually damaged the integrity of Ripple XRP and the reputation of its enthusiastic community.
He said “The very reason XRP is not pumping is because in 2017 and 2018 some of the community hyped it so hard that now people don’t know the difference between reality and fantasy. The $589 eoy 2018ers and bearables damaged the integrity of XRP and the reputation of the community.”
Sir Gordon Gekko’s Prediction a Good Reference to the Points Averred by Kieran Kelly
The aforementioned points made by the two observers still continue until now. If the predictions of Sir Gordon Gekko are taken into consideration, one might be convinced that some forecasters are just attention seekers.
Some weeks ago, Gekko predicted that Ripple XRP will be $7 to $10 within 4 weeks to the time of his forecast, sounding with all certainty.
He later changed to July 1, and the digital currency has not displayed any indication of hitting $1, let alone $7 and $10. Despite his close to impossible predictions, he still continues to drag his followers at will.
Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.