The London fund manager breaks down why the price does not increase

by Barry Solano
0 comments

Reason to trust

Strict editorial policy which focuses on precision, relevance and impartiality

Created by industry experts and meticulously revised

The highest standards in the declaration and publishing

Strict editorial policy which focuses on precision, relevance and impartiality

Leo football price and a little soft players. Each Arcu Lorem, ultimate all children or, Ultlamcorper football hates.

This article is also available in Spanish.

Banks and other global financial organizations are more interested in XRP, the cryptocurrency and digital payment system. However, the price of Altcoin has not changed, leaving many investors and perplexed analysts.

While some argue that the use of Ripple’s major private book hides the real value of XRP, others attribute this to the problems of liquidity and feeling of the market.

Related reading

The large private book can limit prices growth

According to Digitalg, a former fundamental manager in London, the use by Ripple of a large private book for institutional transactions can be the reason why the price of Xrp Stagnated.

Digitalg claims that banks could acquire XRP in substantial volumes on a large book hidden instead of the large public XRP book (XRPL)Keep these transactions out of the public market. This separation could explain why increased adoption did not result in higher prices.

Digitalg believes that later this year, a merger between the large private book and XRPL could take place, which could increase the value of XRP.

Ripple’s main objectives in the private file are defined by large -scale transactions between institutions and digital currencies of the central bank (Cbdcs). This configuration makes it more difficult for banks to see how XRP could be used in different situations even if it simplifies things and stimulates security for them. Some maintain that the lack of opening could cause regulatory problems.

Challenges of market feeling and liquidity

Other observers say that XRP price oscillations are caused by the general market dynamics. The capitalist co-founder of Black Swan, Vandell Aljarrah, says that there is not enough liquidity request to cause supply disorders, even if the institutions use XRP for transactions.

The XRP market capitalization currently at $ 133 billion. Chart: TradingView.com

He notes that from July 2024, while it was in the correction phase, the price of XRP was permanently between $ 0.52 and $ 0.56.

The adoption by banks of blockchain technology continues to grow

Meanwhile, it was a big step forward for Ripple to establish relations with financial institutions. According to reports, some of the 30 largest banks in the world are planning to use Ripple’s regulation technology by joining forces on Bitstamp.

In addition to the creation of Ripplenet and liquidity on demand (ODL), which both require XRP, it has become easier to send money between borders faster and at a lower cost.

Related reading

Price trajectory cannot clear

The future of XRP prices is not very clear at the moment. The three key levels that analysts have identified as requiring special attention are $ 0.60, $ 0.63 and $ 0.66. If the price manages to exceed these levels, it could increase to $ 0.86 or perhaps more.

If it falls below $ 0.50, however, a short -term rebound could be less likely.

Star image of Gemini Imagen, tradingView graphic



Source

You may also like

Leave a Comment