Ripple’s XRP asset has started 2020 with a less catastrophic view that the year before. The price now hovers above $0.20, having stemmed the recent outflows. Here are 3 things holding the price up right now.
XRP, which has been sliding slowly throughout 2019, has not given up on a bright future. But the market price has remained stagnant, hovering within a relatively limited range.
XRP now trades at $0.2077, sinking down from months spent around $0.21, and lows under $0.19. Trading is still cautious, as altcoins are viewed as less reliable. Added to this is the lack of confidence that XRP has ended dumping, and may go through a new price discovery stage.
But in January, the asset has a few factors keeping the price level-keeled at $0.20.
1. Siam Commercial Bank Partnering with Ripple Net
The Thailand-based bank, dedicated to offering fintech solutions for several Asian markets, believes Ripple Net can be the basis for a new app and payment system.
Ripple’s Partner Plans to Expand into Four More Countries This Year