XRP price rally down to the fact that it has real utility
One of the major news in recent times is the resurgence of Ripple’s XRP in the crypto market after undergoing a period of considerable lows. The recent surge of the crypto asset can be tied to the effect of WallStreetsBets-like community named SatoshiStreetsBets that has shown considerable interest in the crypto asset.
XRP has real utility
The group played a major role in making the asset rise price from its January 28th position of $0.25 to a local high of $0.75 by the first day of February. However, the asset’s price has undergone some correction, and it is still trading at a high fee of $0.44. Many analysts say it looks like the consolidation mark for another attempt at the resistance level at $0.50.
Its recent resurgence has also led to the question of what future the asset has in a world of stablecoins and national digital currencies. Being a remittance Coin, there have been considerable fears that the token might not compete against leading crypto assets like Bitcoin or even Ethereum. But MagicPoopCannon has an alternative view, he believes that the market cap of the asset should not be considered as an issue because the Ripple token has real utility.
He further explains that people who complain of its market cap have lost sight of the duty of the coin, which is to move trillions across the globe. And that, when the asset eventually cracks that, its market cap would then definitely explode with it.
The value of the asset could experience a massive surge
The crypto analyst further predicted that the XRP’s value could rise to $9 or even get as high as $20. He noted that the asset is on the verge of a massive explosion that would drive its adoption and use.
He added that his prediction is well-grounded in history as the coin has a history of growth of over 76,000% in the crypto rally of 2017.