XRP Price Remains Stable Despite Circulating Supply “Changes”
As the cryptocurrency markets remain subject to uneasy market momentum, it is becoming increasingly difficult to note positive trend. As has been the case for some time now, the XRP price continues to maintain a very stable level. That also means Ethereum is slowly gaining on this asset in terms of market valuation, although the gap is still pretty large.
XRP Price Continues to do its own Thing
It is not the first time XRP bucks the overall cryptocurrency market trend, either for better or worse. That is only normal, as XRP is not a cryptocurrency by any stretch of the imagination. As such, it can maintain a price stability other projects can only dream of. Today is no different in this regard, even though it is understandable why this sideways momentum makes some people nervous first and foremost.
Over the past 24 hours, not much has changed where the XRP price is concerned. There has been a 1.5% increase in USD value but also a 1% dip in BTC value. This latter trend is a bit surprising, even though Bitcoin is trying to mount some sort of a comeback right now. It seems to be a matter of time until the BTC value plummets again, though, which will allow other projects to note gains in that department.
Some interesting developments are taking place where XRP is concerned, although they are not all that positive. Instead, it would appear Forbes has listed the current circulating XRP supply to 99.99bn. That seems a bit odd, as over 50bn tokens are locked up in escrow contracts. It hasn’t spooked the markets just yet, although it is something to keep an eye on regardless.
— Forbes CryptoMarkets (@ForbesCryptoMkt) December 4, 2018
There is also some interesting discussion taking place regarding how Korean exchanges affected the XRP price and supply about a year ago. It is one of those incidents a lot of people seemingly forgot about. CoinMarketcap and Korean exchanges have never been a good mix whatsoever, yet that decision has also shown how censorship comes in many different forms.
Their removal of Korean exchanges with zero warning dropped XRP’s price in the middle of a bull rally, resulting in some panic selling.
— 🌊 Zerp_Hound 🌊 (@ZerpHound) December 4, 2018
Mr B. XRP is a die-hard supporter of Ripple and XRP, which is only fair. He is growing tired of the “snarky attitude’ toward this project as a whole, though. It is evident XRP is not a cryptocurrency, nor is it trying to become one. Instead, it is a tool for banks and other financial industries. While cryptocurrencies should be able to displace those providers, that doesn’t mean XRP will not succeed in its own regard.
The @cryptomanran snarky attitude toward #XRP & the #XRPCommunity has pushed me to having to release his senior year high school picture. Only Butt-Head would be so blind to what @RIPPLE & #XRP are about to pull off. #XRPTHESTANDARD pic.twitter.com/8ntPx8yGWu
— Mr. B XRP 💧 (@XrpMr) December 4, 2018
Keeping all of this information in mind, it will be interesting to see what the future will hold for the XRP price. The circulating supply debacle will undoubtedly make some people nervous, even though there is seemingly not much to worry about whatsoever. Ripple may have something to say about this development, although they have not issued any comments so far.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.