With the start of the new year, we have seen that Ripple’s XRP has not able to gain the required momentum in price as compared to other cryptocurrencies.
Big companies and institutions have been buying a large number of XRP through Over The Counter (OTC) Trades. Large institutions have been acquiring XRP at a fixed price, which has no impact on the price of the token. This leads in suppressing the price of XRP and in expanding the XRP ecosystem and fair distribution of the tokens. If these XRP are allowed for sale on the open retail markets, the ripple price will increase significantly, but not many institutions and partners would be able to participate.
Ripple Price Sentiments / Prediction
An XRP investor said,
“Ripple contracts with partners prevent them from purchasing XRP on the open market. These partners wouldn’t have bought XRP at all, OTC or on the market if Ripple didn’t onboard them. They’re buying for the purpose of using xRapid, not as a speculative investment.”
One of the other investors said,
“This should give us more confidence in holding XRP long term. If the Ripple company just wanted to get rich and retire within a couple [of] years, they would have instructed their partners to buy off exchanges; then for $10-$20, they would’ve made trillions. So, this is an indicator that they are truly looking to replace SWIFT; this is not a get rich quick and then disappear scheme. If Ripple wanted to, they could’ve pumped XRP to $30 by now. However, they’re looking at the bigger picture.”
This is clear that Ripple is aiming and focusing on building a healthy ecosystem and distributing their XRP tokens. And the price will not stay the same for so long.
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