A Ripple fan and a longtime XRP trader said he was worried about the future of the third largest crypto asset on the market and went viral on Reddit.
The subreddit titled “Long-term hodlers are losing their trust” has risen to the top. The crypto trader has questioned whether the adoption level of XRP and whether Ripple’s crypto-based payment product called Demand Liquidity on Demand (ODL) can increase the price of the cryptocurrency.
He said that the announcements made by Ripple executives, including Ripple’s CEO Brad Garlinghouse, said that a significant number of banks will use XRP, has not yet been realized.
“Garlinghouse and Schwartz said that dozens of banks will use XRP and Ripple will work with big names; however, two years have passed and very little has been announced to the public… Perhaps the developments remain behind the scenes, but so far the usage situation / ODL has not had a positive effect on the price and XRP continues to act with Bitcoin. ” said.
The investor said for the first time that he bought XRP in 2017 and did not intend to sell.
The best response to investor’s criticism was Ripple’s increased volume for its XRP-based liquidity product.
“Ripple has announced that they will present a new market in Latin America, Asia-Pacific and Europe in 2020. (XRP was announced in the Q4 Markets Report 2019) Clearly, XRP is the only asset to offer its production status at any scale today.”
Ripple raised $ 200 million in the C Series financing round in December, and these funds; He said he would use it to expand the XRP-based remittance platform, to increase the development of the XRP Notebook, to add new skills and to serve its customers better.
XRP performs better than traditional markets in 2020. It started the year at $ 0.1936, saw $ 0.3372 in February, and then returned to January levels. The digital asset is currently trading at $ 0.1960 at the time of writing this news.