Some investors believe that Ripple’s XRP is currently the most undervalued cryptocurrency on the market.
While other cryptocurrencies have recovered rapidly from the March lows, the price of XRP remains in crisis. Cryptocurrencies like Cosmos (ATOM), Chainlink (LINK) and Cardano (ADA) have seen significant gains in recent weeks. However, XRP continued to struggle. A market expert even postulated that XRP does not join with other cryptocurrencies is “remarkable”.
The big question is: is there a big inversion in the cards? Notably, some investors believe that Ripple’s cryptocurrency, XRP, is currently the most undervalued, according to a search from the Fiatleak Exchange.
Investors are confident in XRP
A total of 77.5% of the 3,949 cryptocurrency holders who responded to Fiatleak’s Twitter poll a few days ago noted that XRP is the most underestimated cryptocurrency. The exchange had provided four options: VeChain (VET), Kyber Network (KNC), Chainlink (LINK) and XRP. Then he asked the participants to give a reason why they think the asset they chose is undervalued.
A user said that XRP is undervalued because, even with large partnerships and payment corridors, the US Securities and Exchange Commission (SEC) is still holding it back.
Ripple, the company that oversees XRP, is eyeing the financial market. The company’s main proposal is to help banks and payment companies reduce costs and increase efficiency using its blockchain-based solutions. The On-Demand Liquidity (ODL) service, which uses XRP, basically allows the transfer of value in a matter of seconds. Despite these advantages, the SEC has said nothing about the status of XRP, although it has already released bitcoin and ethereum.
The VeChain supply chain management token (VET) came in second, with 12.8%. Some cryptocurrency enthusiasts suggested that VeChain and XRP are “revolutionizing” the crypto universe in different ways and are valuable, but highly undervalued.
– fiatleak (@fiatleak) July 13, 2020
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Could a collaboration by Ripple and VeChain be in progress?
This research that highlighted XRP and VET comes after speculation about a possible partnership between the two blockchains. VeChain chief Sunny Lu recently stated that he would not mind collaborating with Ripple during a interview to Digital Asset Investor.
According to Lu, the fact that Ripple and VeChain are not competing with each other because they target different markets means that they would make a great partnership. While Ripple is focused on cross-border payments, VeChain is moving forward to improve transparency in the logistics and supply chain sector. He did, however, clarify that there has still been no formal discussion with Ripple.