The crypto-markets have experienced some sideways movement in the last 24 hours with the total market capitalization still at yesterday’s levels of $253 Billion. The King of Crypto, also known as Bitcoin (BTC), is also somewhat stable at current levels of $6,400 and down 3.6% in the last 24 hours. As a matter of fact, BTC dominance in the crypto-markets has now increased to 43.4%. It seems that during times of turmoil, crypto traders prefer to hold BTC for it is deviates less than alt-coins during bear-market periods.
With respect to our favorite remittance coin of XRP (XRP), it has stood its ground in the last 24 hours and only declined by 2.30%. XRP is currently valued at $0.44. This observation of XRP being less volatile than BTC is the reason exchanges are warming up to the digital asset as a base for trading. Exchanges such as Zebpay and Unodax, now offer trading with XRP as a base. This then brings us to the first reason why XRP is not going anywhere. These exchanges have shown that the coin is here to stay by continually adding it as a base for trading. There is also SBI Virtual Currencies that is XRP-centric and promising to be the number one exchange in the world.
Another reason why XRP is not going anywhere, is the fact that the Ripple Company is now offering the much needed clarity separating the digital asset from the company of Ripple. This means that XRP’s destiny is in the hands of the XRP community. You and I will determine if the digital asset remains relevant. We love the coin, therefore, it is here to stay for the foreseeable future.
Thirdly, the crypto-verse has been considered as being in its infancy with total crypto adoption in the United States expected in the next 10 years. Yes. We are the early adopters. Therefore, we should not bulk at the current market turmoil neither worry due to the pending lawsuits against Ripple. The Ripple company can hold its own in a court of law. Besides, XRP is entirely separate from Ripple. Therefore, if the cases go against the company, XRP will still be available in the crypto markets.
Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.