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The Ripple network is being used more and more, what does that mean for the XRP price?

Ripple hires 50 developers for its new office in Canada

In recent years, Ripple has partnered with various banks and financial institutions around the world. This is to offer its crypto-powered financial services to more and more people.

The most recent expansion is a partnership with Tranglo to enable international payments in and out of the United Arab Emirates. Ripple is growing at lightning speed. However, while Ripple is working hard to increase global adoption, we don’t really see the XRP price rising.

The XRP price is lagging behind the developments

Ripple Labs does not only focus on citizens and private companies. The crypto company is also working hard to support central bank digital currencies (CBDCs) on the XRP ledger. This is because they expect it to be the future of traditional fiat currencies.

While Ripple continues to develop considerably, the XRP price remains behind. At the time of writing, the Ripple price is at ‘only’ $0.3303. That’s more than 90 percent lower than its All Time High, which was reached in January 2018.

While one of the reasons for this price movement is the ongoing lawsuit with the SEC, on-chain stats reveal a few more factors.

What do the statistics say?

Not only the price of the XRP token has fallen, but also the number of active addresses and the trading volumes have fallen sharply. This therefore points to an outflow of investors from the Ripple blockchain.

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