Why the price of Ripple XRP needs to increase. Besides the obvious; which is to make you money. We will be looking at how it will benefit in the long run not just for you but for everyone else too!
Summary of what’s talked in the video:
1. Reason Ripple Price increase
– Low price discourages FI’s to use it as a currency.
– Higher liquidity makes payments cheaper.
– Example of buying house, let’s take example of bitcoin, if the price of bitcoin was $1 and you had to buy a house, the amount of bitcoin you would have purchased would adversely affect the market.
2. Reason XRP Price increase
– Ripple is the largest owner of XRP and whenever there is a need to transfer a very large amount Ripple can act as an intermediary to cover the loss of a FI for a higher price.
3. Ripple Majority owner
– A lot of conspiracy saying that Ripple doesn’t have any motivation to keep the price of XRP high and just want to distribute their XRP at whatever rate they can.
– However, David Shwartz(Chief Cryptographer) quickly rebutted this theory by saying that: “Its in Ripple’s interest to keep the price high as they are the majority holder”.
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