Today, as with the past week, we are seeing some very low values for Ripple’s native currency XRP. Overall, we did see Ripple XRP narrowly miss $1.00 through the end of April and the start of May. This came off the back of numerous incredible partnership announcements and of course lots of really positive news from Ripple Labs.
Through the onset of May, into the midst of the past few weeks, we have however seen Ripple XRP take a tumble, a tumble that has placed XRP well away from $1.00. Now it seems that, with $1.00 becoming less and less realistic, we need to see Ripple XRP as a currency with a value far below $1.00.
You have to look at Ripple’s current situation in order to understand what is happening here. Ripple Labs have been accused of running a security in XRP, which has resulted in a court case being filed against Ripple in the United States. As we know the US authorities are already considering how Ripple XRP fairs as a security which in turn, has prevented XRP from gaining listings on major cryptocurrency exchanges such as Coinbase.
The majority of the community do believe that Ripple XRP is indeed not a security, even with this in mind though, the impact this news is having does seem to be draining some life out of XRP.
At the time of writing, Ripple XRP is valued at $0.68, and is down 7.57%. Of course, a major contributing factor to this is the fact that as it stands, the markets are entering a steep decline over all. The concern here is that many other currencies such as EOS have made really good progression through April, into May. Bitcoin Cash has also managed to hold on to some fantastic gains. Ripple XRP on the other hand, seems to be left behind in its struggle to reach $1.00, even when the markets are looking good.
Now, with the markets looking poor at best, you have to ask oneself, if the future for Ripple XRP beyond $1.00 is realistic, or, do we need to buckle down for a future with XRP, sitting closer to $0.50.
Overall, we of course believe that once the court case is resolved, assuming the news is good for Ripple XRP, we might well see the price of it skyrocket. A listing on Coinbase could also potentially guarantee this. Until then though, we should rely on the current figures we see today. The outlook for Ripple XRP does indeed remain bleak.
Hopefully, soon enough though, things will clear up, and the future for XRP post $1.00 can become a realistic prospect once more.