XRP, the digital asset related to Ripple’s network, remains stagnant, despite expectations that the Swell conference on November 6-7 would bring price action. Despite the numerous mentions on social media, XRP remains subdued and stuck to a price of around $0.29.
XRP Lags Despite Outlandish Price Predictions
The Swell conference is almost here accompanied by outlandish price predictions, with XRP’s possibility to grow to as high as $8. But the asset has failed to even get close to its annual high around $0.47. For now, XRP is below even the levels of January, when the price hovered around $0.36.
Some of the expectations for the ascent of XRP is that it would somewhat find a use case in the legacy financial system. Some predict the asset would work as a leading currency, in a wildly rare scenario.
U.S national debt is now $23,000,000,000,000
Total supply 100B to provide liquidity.
Inexpensive to use.
Super fast transaction & settlement times.
Retweet for $XRP!
— Crypto Sham (@CryptoSham) November 3, 2019
However, for now, XRP behaves as a usual altcoin. In the past few days, bitcoin staged a weak weekend rally, while XRP saw its volumes weaken even further, to $1.4 billion in 24 hours. Even Litecoin (LTC), which is considered a boring bet, has managed to have volumes above $3.2 billion.
Transaction Boost in Late October
Rising XRP transactions have not managed to lift the price. Ripple’s token saw a spike of activity at the end of October, jumping from around 720,000 transactions per day to above 1.6 billion transactions.