The current year’s economic downturn due to the COVID-19 pandemic has affected many digital currencies, including Ripple news headlines report. It is hard to find a global market today that has yet to remain untouched from the Coronavirus. Considering this, cryptocurrency assets must struggle to make a comeback to prove viability for investors around the world.
Ripple News Today
At the time of writing, the price of Ripple (XRP) is sitting at $0.21 USD. There are many outside factors that crypto enthusiasts muse which can contribute to this lower market value. For several weeks Ripple news has reported this lower price range, making investors anxious. Examining past market movement, headlines have published its lowest quarterly results ever in Q1 of 2020.
One possible factor is the unlocking of 500,000,000 XRP tokens from Ripple’s escrow wallet, totaling an estimation of $101 million. This could significantly amplify Ripple’s current weakness on the market, causing a shift in the cryptocurrency world. And even though Ripple news is reporting negative values, Ripple (XRP) still has some competitive influence on other cryptocurrencies.
Ripple Partnerships Aiding Market Movement
Despite the lower market value for Ripple (XRP), they continue to move forward with partnerships and build worldwide alliances. By enlisting with over 300 partners around the world, Ripple increases its exposure globally. Hoping for an upward trend, Ripple continues to focus on solidifying a presence in other countries including Asia.
Ripple news reports in the last year, describes them cooperating with Mexico’s largest cryptocurrency exchange, Bitso. Partnerships like this aid Ripple’s market exposure and movement around the world.
Recently in February, Ripple partnered with International Money Express, breaking into the Latin and Caribbean niche and making significant headway. Some major branches include:
• Worldwide banks (like Bank of America)
• Money transfer firms (like Western Union)
• Foreign Exchange companies (like FairFX)
• Payment providers (like Cambridge Global Payments)
How Does 2020 Look for Ripple (XRP)?
Investors are hopeful that the worst of 2020 is behind us in regard to the economic downturn. Crypto enthusiasts are optimistically watching current Ripple news, hoping for an upswing at the end of the 2nd Quarter. Considering lower market values for XRP, some enthusiasts predict a quick turnaround as investors snatch up assets at lower costs.
Many digital investors predict that the depleted world economy will force others to turn to cryptocurrency for more security. Just like Bitcoin grew after the last economic downturn, Ripple (XRP) is anticipated to fare well in the following months. But speaking about predictions, they are just educated guesses after all, and only the future will show Ripple’s results.
Ripple investors may want to ride out this lull in the market, while potential XRP investors could snag cheaper assets. Often cryptocurrency assets are not a Get-Rich-Quick solution, but rather a Slow and Steady investment opportunity. If you are looking for a digital asset for a long-term investment, Ripple (XRP) might be the cryptocurrency for you. Diversity is key in any portfolio, and Ripple (XRP) can give your investments the variety they require for future growth.
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