Ripple (XRP) is the worst performing currency among the top ten currencies in terms of total market capitalization in 2019 as of this writing.

The topic was based on comparing the performance of the Ripple currency against the US dollar and comparing it with the same other top 10 cryptocurrencies and how it performs against the US dollar.

Despite the large partnerships that Ripple announced in 2019, the XRP currency did not rise much than it was earlier, but sometimes its value fell even more.

In the same period, the price of Bitcoin more than doubled from under $4,000 to $9,100

Other cryptocurrencies such as Ethereum, Litecoin, Binance Coin also rose by 50% to 200%.

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Coins in January 2019 vs November 2019 BTC dollars = $3.7K -> $9.2KETH dollar = $133 -> $185Litecoin Dollars = $31 -> $58XRP Dollars = .34 c -> 29 cBNB Dollars = $5 -> $20 $ . link = .30 -> $2.68EOS dollar = $2.56 -> $3.31BSV dollars = $89 -> $132BCH dollars = $154 -> $294

MCap doubled in US dollars and XRP Dollars It still ends up in the red.
👀

– Kryptotypes (KingThies) November 3, 2019

Why is the XRP price lagging despite strong partnerships

As we have already mentioned in several previous topics on Arab Bitcoin, the many partnerships that Ripple has made with several large companies.

Ripple secured high-profile partnerships throughout the year, including dealing with payment processors to use XRP in processing international remittance payments.

For example, the MoneyGram deal led to a significant increase in the volume of XRP in Mexico, as the remittance service provider began expanding the use of XRP.

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Alex Holmes, CEO of MoneyGram, said:

“Our partnership with Ripple will give us a competitive advantage in the coming months and years.”

Despite this, the price of XRP has fallen from $0.34 to $0.29 by nearly 15% in the past 11 months.

Despite the optimism surrounding the company’s many partnerships, analysts generally believe that the sluggish price trend of XRP is caused by the cryptocurrency sales by Ripple.

Where, in its report for the third quarter, She said Ripple has sold XRP at a value of $66.24 million with the vast majority sold to institutions. Ripple’s management stated in this regard:

Ripple sold XRP worth $66.24 million in the third quarter of 2019.

A decrease of 73.7% in sales.

The total market capitalization of digital assets declined in the third quarter, with the total market capitalization losing 30.4%. The price of XRP is down 35.4% on a quarterly basis.

The company said it aims to maintain a similar approach to XRP sales compared to the third quarter, referring to additional XRP sales at the end of the year.

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Can you recover?

Last month, tech analysts like Peter Brandt said that XRP appears to have finally bottomed after what has been a relatively bad year for the coin in terms of price.

Brandt said:

The diamond pattern has always been a key pattern among traditional markets.

I suppose the pattern might work for a bottom in the crypto markets.

If you want to know what a very clean diamond looks like, check out XRP.

Eric Theiss also noted that there is a significant bullish divergence on the week for XRP against the US dollar, and did not rule out the possibility of a trend reversal in the short term.

Finally, we can say that with the presence of a major Japanese financial institution in the “SBI Group” and a provider of large-scale remittance services in “MoneyGram”, the focus on “XRP” will double and the currency appears to be factors for a potential rally.

Despite all this, its overall performance is still weak compared to other cryptocurrencies.

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