XRP to Remain a Cautionary Crypto Investment in 2020; Here’s Why

Ripple blockchain’s native token XRP registered one of its worst performances in 2019. And it is likely to extend its losses in 2020.

The XRP-to-dollar exchange rate is down by circa 49 percent on a year-to-scale. At the same time, the token’s price against the benchmark cryptocurrency bitcoin has plunged by more than 72 percent within the same timeframe. The performance alone shows that investors are leaving the XRP market en masse.

Ripple’s native asset spent 10 out of 12 months in red territory | Source: TradingView.com

Latest Ripple-Related “FUD”

XRP’s downside moves came amidst a series of scandalous so-called “Fear, Uncertainty, and Doubt” (FUD) that has plagued its issuer Ripple Labs.

The San Fransisco-based cross border payment company uses XRP as a settlement token. It originally issued 100 billion XRP units and sold a portion of them to obtain funds for the development of its blockchain platform. However, Ripple Labs retained control over 61 percent of XRP…