Photo credit: nairametrics.com
XRP is the native crypto currency of Ripple network, and it consistently list among the top 10 crypto currencies by market capitalization.
Ripple was designed to replace the Swift system or to otherwise replace the settlement layer between major financial institutions according to CEO of Bitwave, Pat White.Santander and Bank of
America are a few that claims to use this network.
Since the legal battle between SEC and Ripple,Xrp price has been nosediving. But a new report by the financial trend Survey platform, Finder, there is a projection that XRP price will hit $2.55 before the year ends. This will be dependent if Ripple win or lose the case against the Securities and Exchange Commission (SEC) this year.
Should they lose, the report project Ripple price to tumble to $0.68.
Despite all this projection, many crypto analysts believe that the current behavior of XRP proves that it's a speculative asset devoid of any value. This is evident in the words of Matthew Harry,the head of funds at DigitalX Asset Management when he said,
"The XRP token is worthless for anything other than speculation. The underlying technology is terrific but the token itself does not currently have a use, it simply attracts speculators as it is cheap and easily digestible value prop-none of which is born out in the token".
Coinflip founder,Daniel Politely also believes and sees the XRP token relying more on hype than its actual usage.
Not withstanding, that XRP is based on hype,it has a good technology surrounding it. And if this legal battle between Ripple and SEC is concluded before this year ends,there might be bullish storm for XRP price.