The bearish pressure in the market has also affected Ripple’s digital asset XRP. Now, the coin in trading in the red and it’s priced at $0.325509 on CoinMarketCap.
Ripple’s CEO Brad Garlinghouse has been highlighting for a while the fact that Ripple provides a fundamental way for banks and financial institutions to use the blockchain technology.
Using crypto for institutional purposes
He also added that this enables to use of crypto for institutional purposes as well. The thing is that if there is a fundamental use, the coin will definitely increase in value rather sooner than later.
But with this bearish market that seems to be neverending, we’ll have to wait and see.
It’s also important to note that there are a lot of startups that will be using Ripple’s protocol in the future in order to develop new solutions. This will increase the number of applications for XRP.