Eric Daduon, an investor and a crypto thought leader, is of the view that Ripple Inc. investors will not allow XRP prices to tank and this will consequently will the Internet of Value (IoV) into existence so as to prop prices.
Internet of Value Around the Corner?
The Ripple platform aims to be a go-to network for financial institutions including banks where they can send money anywhere in the world easily and cheaply.
Aside from the involvement of leading venture capitalists like Google Venture, Accenture and Andreessen Horowitz, and leading global banks like SBI Group, Standard Chartered and Santander back the for-profit organization.
#Ripple makes money elsewhere but safe bet they want a higher $XRP price given their “bag”. You know who else would? Their investors (Standard Chartered, Santander, Andreessen Horowitz, Accenture, Google, etc).
These giants are going to will the #IoV into existence. I can wait.
— Eric Dadoun (@EDadoun) November 21, 2019
XRP Down 44% Year-to-Date against USD
Dadoun’s opinion will excite the XRP community, a band of supporters considered to be the most loyal, and optimistic about future prices. They hope that XRP will reclaim its January 2018 all-time high of $3.20. Even so, XRP prices remain largely suppressed, as the third most valuable coin by market cap registers huge losses on a year-to-date basis.
To quantify, XRP is down 44%, 68% and 57% against USD, BTC and ETH respectively. This is despite the number of partners brought on board the RippleNet increasing above 300, and Ripple Inc investing in MoneyGram in a deal that involved the remittance service provider incorporating xRapid.