Ripple XRP Prices Remain Unchanged Despite Company’s Quarterly Successes
Despite Ripple’s quarterly report, its successes in its ODL service and rapid expansions, the XRP price remains unchanged.
It is impossible to deny the impact of Ripple in changing the financial landscape, providing low financial costs while allowing more secured transactions through the Ripple ledger.
Many financial institutions worldwide use Ripple’s ODL networks in their business model to simplify the way they perform high-volume transactions.
These successes baffle XRP investors as to why the prices fail to represent the company properly.
One of the reasons deduced by cryptocurrency experts is the vagueness of the numbers in the quarterly report. The company’s quarterly report only showed the graphs without showing the actual numbers according to the doubled volume.
Despite showing good results in the bar chart, there are no values on the y-axis. More precisely, despite claiming a 25% market volume in RippleNet, the company failed to disclose the actual amount attributable to ODL growth.
Furthermore, despite establishing partnerships with money transfer and remittance companies, they reverted to fiat to complete their financial transactions.
Although XRP traders saw the prices rise during the weekend, Monday took all the gains earned.
More importantly, Ripple’s transparency also becomes a concern, potentially explaining this coin’s investors’ uncertainty.
This transparency started enraging cryptocurrency investors and traders, expressing their need for actual numbers to make proper financial decisions.
Overall, the company would need to increase its efforts in providing the utmost transparency in its business results.