- Crypto analyst shared insights on XRP tokens and its potential.
- According to the Twitter user, XRP’s value is related to the support for XRP-based projects and products.
- Products that use XRP natively are needed to increase its value.
XRP dUNL Node Account TwitterWith 19.2k followers, rippleitin.nz tweeted a thread exploring the price and potential of XRP. On February 4, they discussed the “pessimism” that surrounds the coin’s value.
All the tokens can also be employed for payment fees and collateral. Furthermore, XRP has similar rights to its competitors co-existing within the same XRPL network.
The account also explains that NFTs possess their own XRPLs but have no effect on the worth of XRP. As such, XRP is currently gaining its value from the procurement of other assets on the platform. The analyst then went on to say that “pathfinding also offers the possibility to avoid using XRP”.
The Twitter user then drew attention to projects that have launched utilities, including XummWallet. These utilities use the native token XRP for their products. The user also referred to the fact that XRP is used in combination with XRP Ledger and XRP-based projects.
A crypto analyst recently tweeted about the tokens in the XRPL and the bearish sentiment around the XRP value. They asked their followers, “Are you backing them by purchasing their product with your XRP?” According to rippleitin.nz, the worth of XRP is reliant upon speculation and costs until there are XRP projects that customers support.
In spite of this, XRP can still be a successful asset without having to be a high-value asset. However, the value of XRP goes down with more tokens issued on the XRPL. To enhance the XRP value, there must be more native token-based products and utilities. This will need market assistance and demand.
Rather than forecasting future prices, the account advised users to focus on constructing and supporting projects with native XRP to make it a competitive token to other tokens in the XRPL. This post was the first to appear on Coin Edition.
