Ripple (XRP) News – What is the actual value of the XRP token?

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Many traders believe that while the RippleNet products might have actually delivered, but the same cannot be said about the XRP token. There is no doubt that the products which are being built by ripple on the RippleNet are valuable and are being used by banks as well as financial institutions. The only problem is that the actual usage of the XRP token is pretty limited. This brings us to the very important question what is the actual value of the XRP token?

What is the actual value of the XRP token?

Recently, over 1 billion XRP tokens were moved. The fee for this was just a 0.000012 XRP. This is not the 1st time that such a large quantity of XRP tokens has been moved. However, many people think that this is the evidence that XRP tokens might have no value at all.

On the other hand, when you look at the usage of the RippleNet products, you will realize that banks have the option of using Fiat currency in order to move the money. This clearly indicates that there is no compulsion to use the XRP token. As a result, even after the number of banks and financial institutions using the RippleNet products increase, there is no impact on the demand of the XRP token. If there is no demand increase for the XRP token, the value which is being perceived for the future is not true at all as well. At the same point in time, without proper demand, the existing value will erode as well.

Ripple (XRP) recently launched the xCurrent system which it believes will propel the usage of the XRP token. However, up until now, there is no concrete evidence that the usage of the XRP token is increasing. Ever since the launch of this RippleNet product, Ripple (XRP) has announced quite a few partnerships as well. The existing customers have also started using this RippleNet product. However, the demand for the XRP token has not increased.

While there are many people believing that eventually, the demand for the XRP tokens will increase but there is very little evidence. Moreover, this last transaction further cements the fact that the XRP token might not have a significant amount of value. Unless and until the usage of the XRP token does not increase, it will be very difficult to see any appreciation in the XRP token from these prices. It might increase as per market sentiment but the longer term appreciation will be missing.

About Priya 131 Articles
I am an IT engineer by qualification and like to explore the crypto and blockchain space in my free time.

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