XRP is up 1000% in the last month. The market capitalization of the centralized bank based coin is now over $121 billion. Is XRP really worth the price? There has been much concern from the cryptocurrency space in the past few days about new investors getting burned. Mike Novagratz, former hedge fund manager of Fortress Investment Group sent out a tweet regarding the quick rise in price.
According to CoinDesk.com, "where some might see the kind of meteoric growth that's often associated with a breakout product, industry insiders have been quick to tap the breaks."
CoinDesk reports the majority of Ripple's banking clients are using the company's xCurrent product – "a glorified messaging platform" and not XRP.
CoinDesk also reports that during the Swell banking conference recently, a number of banks using Ripple's xCurrent product stated that they would not be using XRP anytime soon. The question is do most of the new investors to Ripple and the Cryptocurrency space know this? Read the full CoinDesk article here: https://www.coindesk.com/100-billion-controversy-xrps-surge-raises-hard-questions-ripple/
What do you think? Is XRP overvalued?