How XRP tipping improves the coin's value

March 11, 2019   XRP

XRP is one of the coins with the largest market caps in the entire crypto market. Because of it, this particular coin is currently considered the third largest cryptocurrency. However, even if its market cap may be huge, the coin's price remains quite low.

Many believed that XRP getting listed on Coinbase might change this, as it would expose it to an even greater number of traders and investors. Unfortunately, they were left disappointed, as the move had no such impact on the digital asset's value.

Even after Coinbase listed XRP on its retail trading platform, the coin's price remained pretty much where it was. This brought confusion among the XRP supporters, particularly as the exchange's move was seen as controversial by many, considering that many view XRP as a remittance coin.

The controversy deepened because XRP grew by 3.5% prior to being listed, which caused speculation about insider trading being done on Coinbase. Another theory claims that the only reason why XRP got listed is that Ripple paid a massive amount in order to get it done.

XRP community allowed the coin to reach success


It is no secret that the XRP community wanted to see the coin on Coinbase's platform. In fact, they were asking the exchange to make this move for over 12 months. Many view this as proof that XRP now belongs to the community, instead of exchanges, or even its parent company, Ripple.

While the community was waiting for XRP to arrive at the exchange, they managed to do some pretty amazing things with the coin. For example, they created the XRP Tip Bot that allows Twitter users to tip each other, while huge amounts of XRP were donated to the St. Jude Children's Research Hospital.

Not to mention the fact that the community actually managed to convince Binance to make XRP their base currency, while Bitrue continues to add more and more XRP trading pairs, once again due to high demand from the community. The community is also responsible for defending the coin against those who would bash it on social media. It is safe to say that XRP owes its position, or at least a large portion of what happened to it, to the efforts of the community during the past year.

The introduction of tipping is seen as one of the particularly useful moves of the community, as it gave it yet another use case. However, this is the one from which individual creators can benefit directly, and such a popular use case is one of the reasons why the coin's value can go up.

Not only does it reward people who provide fun, interesting content — but it also helps with 'spreading the word,' and introducing new users to the coin. Even Twitter users themselves recognized this, stating that the sure way for XRP value to go up is for coin holders to tip as many people as possible.

XRP tipping even started down the path of becoming a meme, with one user stating that they would go tip nChain's chief scientist, Dr. Craig Wright.

In other words, tipping has a large potential to bring XRP to the community, which would then help it grow. This might be the best option that the coin has, as getting listed on the largest exchange in the US had seemingly no effect on its price.

Share
Pin
Send
Share
Share

Related Crypto News and Promotions




Top upcoming ICOs

ICOs Rating Days left
1 DogData 5 40
2 2local 5 71
3 SerenitySource 5 100
4 Geco.one 5 101
5 Tycoon 5 101
6 Pawtocol 4.9 72
7 Curate 4.9 93
8 Ledder 4.9 101
9 IdeaFex 4.9 635
10 BitWings 4.8 9

ICOs rating

Top Cryptocurrencies

Сryptocurrency CVIX Price Change, 24h
Bitcoin 53 $10 863.85 -2.12%
Ethereum 41 $372.23 -3.56%
Tether 1 $1.00 0.09%
XRP 67 $0.246031 -2.74%
Bitcoin Cash 89 $224.32 -4.71%
Polkadot 30 $4.61 -11.10%
Binance Coin 67 $26.27 -4.69%
Chainlink 80 $10.05 -3.22%
Crypto.com Chain 39 $0.163787 -2.66%
Litecoin 85 $46.81 -4.17%

Cryptocurrencies rating

Top Crypto Brokers

Broker Status
1 FIBO Group information
2 XM information
3 OctaFX information
4 101investing information
5 easyMarkets information
6 Orbex information
7 LH Crypto information
8 USGFX information
9 FOREX.com information
10 Admiral Markets information

Brokers rating

Top Crypto Exchanges

Exchange Volume change, 24h
1 Binance -29.36%
2 ZG.com -9.06%
3 HBTC -15.51%
4 Bidesk -16.35%
5 CITEX 9.42%
6 TAGZ Exchange 11.50%
7 IDCM -16.55%
8 Bitribe -20.84%
9 Chiliz -17.09%
10 Binance.KR -37.04%

Exchanges rating