Currently, XRP is one of the biggest losers in the crypto market. Reporting a 7-day loss of 36%, it is dropping at the fastest rate. The individual market cap of Ripple (XRP) also fell by more than $5.4 billion – making Ripple erase most of the gains during last year’s bull run. The current price of Ripple stands at its lowest level since December 12th, 2017 – and is far from its all-time-highs of $3 amid a bull run on the crypto market. Right now, XRP is down 89.2% from the highest price over a period of eight months.
Ripple has some issues that need resolving. First, having a supply of 100 billion coins sounds a little ambitious and crazy since bitcoin is planned to have only 21 million coins in total. Also, if bitcoin becomes the payment processor for banks, some great investors might turn away their heads.
As far as price predictions are concerned, if Ripple stays true to its promises on scalability, low transaction costs and speed we can sure expect the price to rise. However, it is very unlikely that a very extreme, sudden jump in price will be healthy for this cryptocurrency but keeping a steady course and slowly development will bring the desired results.
Still, XRP is not the only cryptocurrency that dropped to its lowest point this year. It declined 8.78% from its previous yearly low of $72.65 which make it one of the biggest losers on the day. Also, the total market cap is now down by more than $13 billion and it dropped below the $200 billion mark. Making a bold price prediction is extremely difficult in conditions like this but what if this the perfect time to buy Ripple and hold it or maybe get away from it?
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