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Ripple Price Summary

Ripple (XRP) is one of the most mainstream cryptocurrencies in the world, and until recently, it occupied the third position in the market, behind Bitcoin and Ether. However, recent troubles with the United States Securities and Exchange Commission (SEC) has affected its price performance. It still remains the sixth largest cryptocurrency in the world despite not setting a new all-time high in this current bull cycle.

XRP’s all-time high price was $3.40, attained on 7th January 2018. Its current price is 73% down from its all-time high. The cryptocurrency’s price dropped to the $0.2 level after the US SEC accused Ripple of issuing XRP as a security. This led to some exchanges delisting the cryptocurrency from their platforms.

However, over the past few months, XRP has been able to recover most of the losses, and it is now trading above $0.70. The continued adoption of Ripple’s technologies and XRP, especially in Asia, is enough to convince some investors and analysts that the cryptocurrency will rise from its recent slump over the coming months and years. Ripple is one of the top blockchain firms with real-world applications. Their technologies and the XRP coins are used to improve cross-border remittance, making it faster, cheaper and easier.

XRP also seems to have the upper hand in its ongoing case with the US SEC. Year-to-date, Ripple’s price is up by over 300%. XRP began 2021 trading at $0.23 per coin, and it is now trading at $0.70. This came after it reached a 2021 high of $1.79 on 13th April.  To ensure you stay ahead as an investor or a trader, we recommend staying updated with XRP’s price. This will enable you to make better XRP investment decisions.

Ripple Price History

Ripple has been around longer than Bitcoin. However, at the time, the project was a payment system and not a cryptocurrency. XRP was created later on to power the Ripple payment system. Ripple was originally known as RipplePay, and it was sold to Jed McCaleb and Chris Larsen by the original developer Ryan Fugger. It was named OpenCoin in 2013, and the XRP coin was created at the time. The company was later rebranded to Ripple Labs.

Since its creation, XRP has been trading at a very low price. However, it achieved recognition in 2017 when the price rose astronomically during the bull run. 2017 was the first year XRP began trading above $0.1, and it continued its rally well into 2018, reaching its all-time high price of $3.40 in January 2018.

XRP’s rally in 2018 came at a time when Ripple’s technologies such as the RippleNet, the XRP Ledger and RippleX began to gain recognition. Ripple and XRP began to gain adoption as some leading banks and financial institutions began using their technologies to conduct cross-border transactions. The transactions conducted by Ripple were faster, cheaper and easier for banks than the traditional SWIFT method.

Similar to other cryptocurrencies, XRP lost more than 90% of its value during the bearish market of 2018 and 2019. However, XRP was rallying in 2020, reaching the $0.60 mark until the US SEC filed a case against it towards the end of last year. This saw its price crash by over 60% to a low of $0.25 in October 2020. However, since then, XRP has steadily gone up, and its price is up by over 300% since the start of the year.

Ripple Price Prediction

If you have been in the cryptocurrency space for a while, you will know that the prices of cryptos are volatile. This implies that the prices could move in either direction within an instant. As such, it is recommended to research and implement risk management techniques in your cryptocurrency investments.

One of the incidents that could shape XRP’s price performance over the next few months would be the outcome of its case with the US SEC. If the SEC wins and XRP is tagged a security, then it could probably affect its price negatively in both the short and the medium-term. The case with the SEC has already dragged XRP’s price below the $1 mark, and any ruling in favour of the regulatory agency would have a further negative impact on XRP.

However, if the court rules in favour of Ripple, then XRP could be relisted on several cryptocurrency exchanges, and this could affect its price positively. A favourable ruling could see XRP attempt to reach its previous all-time high price above $3 again.

Expert Tip on the Price of XRP

Ripple is one of the most successful crypto projects, delivering thousands of percentages in profits to the investors over the past eight years. Despite the ongoing SEC case, XRP remains one of the leading cryptocurrencies in the world. It continues to gain adoption via Ripple’s technologies, especially in Asia. To gain a better understanding of XRP’s price performance, you should conduct both technical and fundamental analyses. For fundamental analyses, ensure you read the news pertaining to XRP and Ripple. Experts use tools and indicators like the FIB levels, the MACD (Moving Average Convergence Divergence) and the RSI (Relative Strength Index) to conduct technical analysis on XRP.
- Hassan Maishera

About Ripple

Ripple was created to solve a problem in the financial markets. Unlike other cryptocurrencies, Jed McCaleb and Chris Larsen created Ripple to solve the cross-border transaction problem. Using the traditional financial system, cross-border remittance is expensive, slow and tedious. 

Ripple created technologies such as the RippleNet to solve these problems, with XRP serving as the cryptocurrency that powers these technologies. The technology has already gained adoption by some of the leading banks and financial institutions in the world.

Ripple Value Compared to Other Cryptocurrencies

Frequently Asked Questions

  1. XRP is one of the top performers amongst the leading cryptocurrencies. It is up by 300% year-to-date. XRP began 2021 trading at $0.23, and it is now trading above $0.70.
  2. No, they are not the same cryptocurrencies. Stellar was created by Jed McCaleb, one of Ripple’s co-founders. He forked Stellar (XLM) after falling out with the Ripple team. However, both cryptocurrencies attempt to make it easier to conduct cross-border transactions.
  3. Similar to other cryptocurrencies, it is almost impossible to determine the perfect time to enter the market. As a volatile asset, XRP presents numerous profitable opportunities. However, ensure you carry out fundamental and technical analyses before making any decision.
  4. XRP and BTC are both cryptocurrencies. However, they serve different functions within the ecosystem. BTC is the leading cryptocurrency, while XRP has cemented its position as the native coin of Ripple and its technologies.
  5. Although some exchanges delisted XRP following its case with the SEC, it is still available on some leading platforms
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