XRP (XRP -0.96%), the native token of the XRP Ledger, has declined more than 60% over the past 12 months. It lost its luster as fears of interest rate hikes, regulatory headwinds, and competition from stablecoins drove investors toward more conservative investments.

Does that pullback make XRP one of the best cryptocurrencies to buy right now? Or will it sink even lower as it fails to resolve its most pressing issues?

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The bulls vs. the bears

The founders of Ripple, a provider of blockchain-based money transfers, launched XRP in 2012. They minted XRP’s entire supply of 100 billion tokens before its market debut. By early 2018, XRP reached a record high of $3.84 per token. Today, it trades at about $1.

XRP…