RATE Group | Ripple’s Close Ties to XRP May Haunt the Crypto Throughout 2020
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Ripple’s Close Ties to XRP May Haunt the Crypto Throughout 2020

01 Jan Ripple’s Close Ties to XRP May Haunt the Crypto Throughout 2020

Posted at 01:41h in Cryptocurrency News by

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2019 was not a good year for XRP, as the cryptocurrency was one of the few cryptocurrencies to end the year significantly lower than where it started it, which comes as Bitcoin and most major altcoins have been able to post year-to-date gains of 100% or more.

This bearish price action may extend significantly into 2020, as the cryptocurrency’s close ties to FinTech company Ripple may haunt it as investors grow more critical of the company’s activities surrounding XRP.

Ripple May Stunt XRP’s Growth in 2020 Despite Its Growing Utility 

On January 1st of 2019, XRP was trading at $0.36, from which it slightly declined throughout the early months of the year before incurring some momentum that sent it as high as $0.50 in late-June, concurrently with Bitcoin’s rise to highs of $13,800.

From this point, XRP found itself caught within a firm and unwavering downtrend that led it to significantly underperform Bitcoin and other major altcoins,…

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