Ripple’s XRP reaches all-time-low transaction volume since 2016? 20832
Pinaz Kazi
Aug 11, 2018 at 4:26 PM

Future of Ripple’s XRP remains to be one of the most debatable topic in the crypto world. Possibly, it’s affecting the transaction volumes as well, as pointed out by Jackson Palmer of Adobe and Dogecoin. He shared a statistics on Twitter referring the same.

He wrote, “Ripple (sorry, XRP) is processing less payments per day than it was in 2016.” It is to be noted that Ripple Labs corporation that created the coin XRP faced three lawsuits already and another law firm announced securities investigation. The global investor law firm known as Rosen Law Firm announced securities investigation on Ripple Labs, Inc and XRP tokens. They are trying to find out whether Ripple Labs, Inc. violated the federal securities laws related to the sale of Ripple’s XRP tokens.

See also: Five million people can use Ripple’s XRP to pay bills, as new payment platform adds crypto

Though top investment advisers believe that token price can fluctuate and has got nothing to do with the company’s success or failure but it seems that it’s somehow affecting it. Though the major coins – Bitcoin, Ethereum and Bitcoin Cash saw significant decrease in transaction volumes but XRP has been hit the hardest it seems. The transaction volume has reached its all-time-low since 2016, and at that time, the coin was sold at a price less than 5% of its current value.

Countering Palmer’s tweet, a twitter user commented, “It will be my second tweet, i really dislike biased people. 1°) Xrp now = Fast transfer, not payment's (Still faster them Btc, Eth, Bch and Ltc all together). 2°) Right now Xrp is making 300% more transactions over Btc …3°) Xcurrent for payment's, TBR.” In fact, both price and volume crashed significant for XRP. According to BitcoinExchangeGuide report, XRP price went down over 20%, from $.59 to around $.39 now.

See also: Five million people can use Ripple’s XRP to pay bills, as new payment platform adds crypto

Despite, the negativity around, there are some factors that investors can consider. As experts believe that total trade volume isn’t a good way to determine the coin’s success. Despite the crashes, a coin might eventually pick up.

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