XRP’s price action throughout the past few months, and even years, has been nothing more than lackluster, with the token still trading down over 90% from its all-time highs while failing to garner any widespread adoption.
The token’s close ties to FinTech company Ripple has been a double-edged sword for its performance.
On the one hand, its 2017 rally was fueled by high hopes surrounding Ripple’s xRapid product. On the other hand, its intense decline and inability to rally have come about due to the company’s previous pattern of selling tokens each quarter and its inability to drum up adoption for the token.
Despite its multi-year consolidation phase within the $0.20 region, XRP is now showing some signs of life as it moves to break out of its long-held trading range.
A firm breakout here could allow the cryptocurrency to see significantly further gains in the days and weeks ahead.
One analyst is even going so far as to