RATE Group | XRP is lagging behind major cryptocurrencies in 2020, what’s behind the lackluster perfo…
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XRP is lagging behind major cryptocurrencies in 2020, what’s behind the lackluster perfo…

22 Feb XRP is lagging behind major cryptocurrencies in 2020, what’s behind the lackluster perfo…

Posted at 14:46h in Cryptocurrency News by

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Since the first week of January, XRP has increased by about 50 percent against the USD. While the number seems high, the upsurge is relatively weak compared to top cryptocurrencies like Ethereum and EOS.

In the same period, Ethereum rallied by more than 100 percent against the USD, while EOS surged by well over 60 percent.

Why is the darling of the alt season struggling?

Throughout 2019, Ripple has had several high profile deals to uplift the XRP ecosystem.

The company’s deal with Moneygram, for example, significantly increased the usage of XRP in cross-border remittances in Mexico. Reports show that in a single week, Ripple processed more than $50 million worth of remittances in Mexico.

The remittance giant captures a large share of the Mexican remittance market and as of November 2019, MoneyGram is said to have processed ten percent of remittances in the country through Ripple.

MoneyGram CEO Alex Holmes said at the time:

““What I love about ODL is that we’re completely at the…

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