PAC global founder thinks XRP will shine in the next few weeks

Quick take

1 minute read

• The third biggest crypto asset by market capitalisation is the XRP token from the San Francisco-based blockchain company ripple. 

• David Gokhshtein, the founder of PAC global has indicated that the token will perform extremely well over the next few weeks following a lackluster year when it comes to its value.

The third biggest crypto asset by market capitalisation is the XRP token from the San Francisco-based blockchain company ripple. David Gokhshtein, the founder of PAC global has indicated that the token will perform extremely well over the next few weeks following a lackluster year when it comes to its value.

Ripple has put a lot of work into infrastructure and partnerships with different governments and massive institutions in the banking and financial sector in order to prepare for the global adoption of the token. This year has been particularly big for the company but really, the past three years have seen the company non-stop making progress.

But the token itself has been performing very poorly despite increased interest from institutions and all the work going on behind-the-scenes. As a result, many investors seem to be avoiding the token and it isn’t a big topic of conversation most of the time.

When it comes to being a payments network, many people do still look to Ripple though. Because of numerous scalability problems, bitcoin and the ethereum network are often seen as lesser.

The product adoption rate is very low though despite the viability of the network. There are a lot of hurdles when it comes to regulators in the United States which is a big reason as to why the company is looking outside of the country to move its headquarters at some point in the future. One analyst said earlier this year that the token may never reach $1, let alone $10. Timothy Peterson said:

#Ripple $XRP may never reach $1 let alone $10. The user growth just isn't there and digital fiat is a threat. It is one of Grayscale's smallest funds, so it doesn't seem like there's much investor interest either. pic.twitter.com/KNWBSPV1Bf

— Timothy Peterson (@nsquaredcrypto) August 27, 2020

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