Ripple XRP is the third largest cryptocurrency by market ranking. However, its high supply and a number of other factors will continue to be the basis of its struggle as it enters a new year.
Rise and Fall of XRP Like
all major cryptocurrencies, XRP enjoyed reaching $ 3.65 in early 2018. As with any cryptocurrency, this did not last long, and the decline was much harder than normal.
Ripple XRP lost more than 90% of its value over the past period. This makes it one of the worst performing coins of 2019.
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According to InvestingHaven, all the current momentum surrounding Ripple’s XRP is actually a good sign. They see this as “contention in adoption” and say that XRP owners can “expect an increase before March 2020”.
3 Problems that
Ripple XRP will face in 2020 3 Problems that Ripple XRP will face in 2020
However, despite strong supporters and analysts praise about social rights, XRP is expected to face some problems next year. Here are these three problems:
Continuous Dump
Probably the biggest challenge XRP owners have to face is the constant dump of money, rather than the attention of the media surrounding these events. Co-founder Jed McCaleb states that this is at the mercy of big money holders in XRP, with a solution not explained with R3.
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XRP Price Depression
Investor confidence declines as the dumping process continues, it is difficult for XRP to reach its lowest level in 2 years (16% decrease in 48 hours), but to see any signs of an increase. Could Ripple’s money be as silver as Litceoin in 2002?
Increased Competition from CBDCS
2020 is now seen as the race year of the Sovereign digital currencies and the stable money issued by the bank. With competition rising from China to the Marshall Islands, more and more countries are interested in starting their own digital currencies. Banks like Facebook and JPMorgan are all in this circle, in XRP 2020 will have to tackle challenges to become a cross-border payment solution.
Pre General 