In recent months, the ripple rate has performed very poorly compared to Bitcoin, Ethereum and other major cryptocurrencies. The chart analysis does not look too rosy for the XRP price either. Nevertheless, the latest data analysis shows that larger investors are in the process of accumulating XRP. Do you know more than we do?

Ripple course continues to travel south

The ripple rate is in a long downtrend that obviously doesn't want to end. About two weeks ago, the XRP price also broke down from the symmetrical triangle formation in which it had previously been trading for almost 2 months. According to the chart analysis, this resulted in a minimum price target of just over $ 0.11. This goal would mark a new all-time low for the ripple rate.

On average, this minimum price target is reached or even fallen short of in 79-81 percent of cases. This means that the probability of a further loss in value at XRP is quite high.

In many places, belief in XRP as a potentially lucrative investment is increasingly disappearing and is making room for annoyance and annoyance among long-term small investors. But that obviously does not apply to everyone. Despite the dull performance, the larger investors have further expanded their XRP accumulation.

Large XRP investors are on a shopping spree

According to ledger.exposed, a website created by XRPL's main developer Wietse Wind, large XRP investors have increasingly amassed the altcoin. This information was released on Wednesday by BetterPRNow podcast moderator Mark Philips

This behavior by large investors suggests that, contrary to the chart analysis above, some larger investors believe that XRP is still a worthwhile investment.

But XRP enthusiasts shouldn't be too happy yet, as the current crypto market atmosphere will dampen the bullish outlook of all cryptocurrencies, at least in the short term, and is more of a chart analysis scenario.

XRP - hot or just a flop?

In January of this year, Mike Novogratz from Galaxy Digital found that XRP would “perform immensely below average” again in 2020. One can say with certainty that he was right about the current state of affairs. This year was the second year in a row for the ripple rate in which the price development of the cryptocurrency left something to be desired. While Bitcoin has increased about 30 percent since the beginning of the year, XRP has dropped 2 percent over the same period.

Most attribute this poor performance mainly to the lack of regulatory clarity around the facility. The ability to be classified as a security has long been evident above the asset. Just last week, ex-CFTC chairman Chris Giancarlo said that XRP failed the Howey test and should therefore not be classified as a security . However, the multiple class action lawsuits filed against Ripple argue that XRP should clearly be classified as a security.

It should be noted that Ripple has done business with high profile companies such as MoneyGram (which uses ODL for its cross-border transfers) and Bank of America (the BoA has reportedly tested Ripple's technology). In fact, the San Francisco-based company plans to open additional payment corridors this year, including one in Brazil.

Interestingly, despite the booming cross-border payments, the XRP rate is still lagging behind. For some analysts, this suggests that XRP is currently heavily undervalued.