Is XRP Priced Too High for What It Actually Delivers?
XRP has more growth catalysts than before, but investors should still assess how much the XRP Ledger network is actually being used.
Overview
XRP (CRYPTO: XRP) has a stronger story than it did a few years ago. But investors still need to ask whether the token is priced for what it delivers today or for adoption that has not yet clearly shown up on the XRP Ledger (XRPL), the blockchain network that processes and records XRP transactions.
Image source: Getty Images
XRP has recently been trading in the range of $1.06 to $1.12, giving it a market value of roughly $70 billion. But DeFiLlama recently showed that only $2.87 million of trading occurred on the XRP Ledger over 24 hours, while users paid just $378 in transaction fees. So, although the XRP Ledger is processing transactions, the amount of trading and fees on the network does not yet clearly justify XRP's high market value.
Details
Source
Originally published at www.fool.com.