Ripple’s XRP May Surpass Bitcoin (BTC) as Store of Value, Fintech Lawyer Says

News
Sun, 02/02/2020 - 12:58
Yuri Molchan
A lawyer that deals with taxes and works in the fintech sphere believes that XRP can become a greater store of value than Bitcoin
Cover image via 123rf.com
Contents

Arturo Portilla, a fintech lawyer from Mexico, is bullish on XRP to become a better store of value than Bitcoin. He has posted this thought on his Twitter page, stating that detractors are only beginning to realize this.

XRP Liquidity Index rises

In his post, Portilla has attached three recent charts of the XRP Liquidity Index rising in the MXN, PHP and USD corridors that work via the Bitso (Mexico), Coin.ph (the Philippines) and the BTC Markets (Australia) crypto exchanges.

Image via Twitter

However, many users in the comment thread disagree with the lawyer and suggest that the best use case for XRP in the future would be what it is now – a bridge currency. As for the best store of value, they believe this status suits Bitcoin best.

Curiously, the Ripple CEO Brad Garlinghouse said in one of his 2018 interviews that he also believes BTC to be a store of value and that he owns it. I own Bitcoin and I’m long Bitcoin, he stated back then.

Related
1 Bln XRP Unleashed from Escrow, Ripple Community Enraged

Bullish divergence on an XRP chart

Crypto trader Scott Melker shares with the community that he has found a bullish divergence on a daily XRP chart. He states that if XRP closes above the descending line on the chart, this would be a bullish sign for the third largest coin.

Image via Twitter

At press-time, XRP is sitting at $0.2560, showing a 7.29-percent rise, as per CoinMarketCap.

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

Top 10 Best Cloud Mining Sites in 2020
TOP 20 Best Bitcoin Trading Bots in 2020

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy