XRP price has underperformed, being only major crypto failed to reach new ATH in last 2021 bull run
New Zealand-based XRPL node validator rippleitin.nz has posted his opinions on the XRP exchange rate on Twitter. As the only significant cryptocurrency to fail to set new all-time highs during the 2021 bull run, XRP price has underperformed in recent years. The Ripple lawsuit may have partly influenced this in December 2020.
XRP was one of the top four cryptocurrencies during the bull run in 2017, rising by thousands of percent to reach record highs of $3.18 in January 2018. Years ago, however, this could not be claimed.
XRP/USD 4-hour chart | Source: TradingView
With a market cap of $19.1 billion, XRP is the sixth-largest cryptocurrency asset. XRP was trading at $0.3754 at the time of writing, up 3% over the previous day. From its all-time high of $3.18 in January 2018, XRP has dramatically decreased (90.22%).
In a series of tweets, rippleitin.nz expressed the opinion that for XRP to be considered “more valuable,” it must add value. The only utility that XRP explicitly has on XRPL is to assist transactions by paying a fee or collateral via an account or other reserves, according to the XRPL node validator.
He asserts that the only way XRP may gain value is by being used to buy other assets on XRPL and that XRPL can be extremely successful even in the absence of XRP ever becoming a valuable asset. Any other tokens created in XRPL likewise benefit from all other capabilities that XRP has because XRPL, not XRP, provides the functionality.
For instance, all tokens issued in the network, such as CSC, SOLO, xrdoge, and xmeta, benefit from their efficiency. These can all be used similarly to XRP, except for making payments for fees or collateral. He continued by saying that each can transact in four seconds, be used for payments, and be utilized for international transactions.
He exhorts people to develop and promote projects that employ the native XRP token to raise the value of XRP. He goes on to advise that consumers should disregard any stories being spread about buybacks, puzzles, and complicated figures.
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