Stellar has failed to hit the ground running in the second half of the year. The project has had little to report in terms of development and partnerships. This has been reflected in the price movement which has been largely bearish.
This slump has further had an effect on its overall ranking, seeing Stellar drop out of the top ten ranked cryptocurrencies by market cap. In addition, slow development has seen the project disregarded as a worthy competitor for Ripple’s XRP.
Unlike Stellar, Ripple is having one of its best years in terms of partnerships and positive developments. Most recently, the company went into partnership with the second-largest money transfer company in the world, MoneyGram, seeing it utilize Ripple’s xRapid blockchain product. This is expected to go a long way in the growth of XRP. As we have reported, Ripple is not stopping at that, the company continues to work on strategic partnerships to help grow XRP in usage and price.
Project Development Crucial For Price Growth
In contrast, it’s been months since Stellar went into a strategic partnership that will accelerate its growth. For any project, this is a crucial aspect of ensuring the success of the project.
It further attracts investors and drives prices. In terms of development, there has been a slow down with hardly anything to report for months. This is also a fundamental aspect of ensuring prices rise. Investors are encouraged and motivated to keep holding the digital asset. Also though media exposure, the project can attract more investors.
This lack of engagement by the project has steadily shown in the digital assets decline in the last three months. Stellar has dropped from highs of $0.13 to hit a low of under $0.073 reached during the weekend when the asset went on a freefall.
Stellar has an all-time high of $0.938144 which investors continue looking forward to reaching in the near future. This will continue being unachievable if the project does not ramp up efforts to become a leading cross-border transactions solution worthy of locking heads with Ripple.