How much is the value in XRP really worth?
Yesterday we did an article called "Low-cost XRP transactions are better than ever" in which we discussed how 1 billion XRP tokens were made for the miniscule amount of XRP 0.000012. We have also touched on how some users believe that this is proof that XRP has little or no value. You can read more about the article Here.
Since then, experts have begun to doubt the value that Ripple's XRP holds as cryptocurrency. Their argument is that the shared register of Ripple and xRapid allows banks to transfer funds in both legal and other digital currencies.
Second ZyCrypto, XRP not only serves as a basic currency that supports the use of xRapid but stands alone like any other cryptocurrency or fiat. In their eyes, XRP was conceived as the main currency for Ripple decentralized instruments, but it does not work that way. XRP is mainly used by Ripple as a tool / asset to make money.
In addition to this, many people have doubts about the value of XRP, which is in a recent rate where the currency can be transferred from one portfolio account to another.
1bn XRP moved yesterday, https://t.co/GbzqVgPBnI
the original purpose / creation of xrphttps: //t.co/qpfhdAIq5q
– flibbr (@flibbr) November 28, 2018
The tweet above suggests that the XRP is nothing but a scam after one billion tokens have been moved from one crypt portfolio to another on the Bithumb exchange. Although the evidence to suggest this is clearly contestable.
The goal of overloading the Ripple network is to slow down the rapid processing of original transactions. Another problem that was mentioned included the value of XRP and how much of the second largest cryptocurrency can be shifted for less than a dollar. Therefore, the sum of XRP purchased by the banks does not add more value to the currency. Even the wholesale purchase can not really push the value of XRP upwards with this in mind.
What are your thoughts? Let us know what you think in the comments below!