As altcoin boom sweeps across the crypto realm, Ripple’s XRP is still under a shadow. The price of XRP has not jumped in comparison to its peers and continues to struggle near the March lows. On the contrary, the price of other crypto assets, including Cardano (ADA) and Chainlink (LINK) have posted huge gains in the corresponding period.
— fiatleak (@fiatleak) July 13, 2020
The muted price action has many Ripple investors worried whether the coin still carries any fundamental value. XRP is under doubt regarding its ability to move in conjunction to the altcoin revival. A contrarian viewpoint also believes that a revival may happen since such a muted presence is surprising in the current altcoin boom scenario.
XRP most undervalued but investors still have faith in Ripple
Fiatleak survey included a whopping 3,949 participants who took part in polling via Twitter. The survey question on ‘most undervalued cryptocurrency’ gave four choices to the users, including LINK, KNC, VET, and XRP. A majority, 77.5 percent of participants said that they believe XRP is presently extremely undervalued. Participants were also asked to provide any specific reasons why they believe that a particular asset is facing severe undervaluation.
Twitter participants responded with their comments on the current state of XRP. One user chipped in saying how XRP is well-matched with fiat besides other cryptocurrencies. It is ideal for serving as a bridge between the fiat-crypto world by offering liquidity that can help transition from Nostro-Vostro to allow traditional financial institutions to use dormant capital.
XRP because with all of its adoption,partnerships and corridors it’s still being held back by the SEC ?
— King George V (@GeorgeCryptoLuv) July 14, 2020
Another user commented that the reason behind XRP most undervalued narrative is the strict regulatory stance of the US SEC.
Ripple is poised to grow due to strong fundamentals
The XRP most undervalued narrative hasn’t hurt Ripple much. Ripple is eyeing for numerous lucrative opportunities in the settlement sector. XRP is well established to create an ecosystem of settlement technologies that banks in developing nations can leverage upon.
Ripple’s primary objective is to support international settlements and cut costs. It helps banks increase their transactional efficacy via blockchain-based technologies. The On-Demand Liquidity (ODL) service provides almost instantaneous transactions.