Ripple, Inc. unlocked its monthly escrow, raising more questions about the performance of XRP. Over the course of 2019, the token has underperformed, also losing hopes of an end-of-year rally.
XRP Long-Term Holding Still Won’t Pay
XRP is still down around 30% this year, as 2019 nears its end. The latest unlocking of the scheduled escrow tranche releases 1 billion coins. It is uncertain how many of them would be distributed or sold by Ripple.
🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 1,000,000,000 #XRP (225,092,032 USD) unlocked from escrow at Ripple Escrow wallet
— Whale Alert (@whale_alert) December 1, 2019
The selling may happen on OTC markets, but in any case, there is a large supply of coins and little demand beyond speculative trading and some limited testing by banks. Still, at near rock-bottom prices, XRP invited some buyers to hold the asset, hoping for outlandish returns.
XRP went as low as $0.21 during the latest sell-off, and some analysts marked this as buying level. However, holding onto XRP may be counterproductive and expectations of outlandish gains may never materialize.
XRP is now about two years away from peaking at prices above $3.40, a level never repeated in dollar or BTC terms. Awaiting a new hike to the price of a few dollars is seen as an unreasonable investment strategy.
The opportunity cost of holding $XRP throughout 2019, hoping for insane targets brought to you by some crazy XRP maxis is nasty.
Don’t get blinded by those silly predictions and wake up. pic.twitter.com/TrefFovoBZ
— The Crypto Monk ⛩ (@thecryptomonk) November 30,