RATE Group | Analyst claims XRP may never recapture $1.00 as its underlying health degrades
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Analyst claims XRP may never recapture $1.00 as its underlying health degrades

03 May Analyst claims XRP may never recapture $1.00 as its underlying health degrades

Posted at 17:25h in Cryptocurrency News by

In the time following the insane crypto market bull run in 2017, XRP has consistently been one of the worst-performing assets, seeing a notable 40 percent decline in 2019 while failing to track the full extent of the aggregated market’s uptrend throughout 2020.

Analysts are now noting that the cryptocurrency could be positioned to see further underperformance in the months and years ahead, with one going as far as to say that the token may never break above $1.00 again.

This comes as the crypto sees declining institutional demand, per data from Ripple’s quarterly token sales report.

Health of XRP degrades as institutional demand weakens

Ripple’s latest Q1 quarterly token sales report indicates that sales of XRP to their strategic institutional partners have fallen significantly, pointing to a potential decline in demand for the cryptocurrency.

This comes shortly after the company announced that they would be halting their quarterly sales of the token, citing concerns regarding the…

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