Ripple is arguably one of the most popular names in the cryptocurrency markets. The currency made a name for itself over the past few months as prices skyrocketed. Ripple price surge led to a 36,000% increase in the currency, attracting millions of investors towards it. With that massive price surge now a thing of the past, Ripple’s recent performance has been rather dismal.
Despite a number of strong partnerships coming up and with a number of banks supporting Ripple’s payment transfer technology, the XRP cryptocurrency is yet to find any sort of a momentum. Ripple price has been on a free-fall since January and the currency’s performance over the recent past hasn’t shown any promising signs.
Ripple price, over the past 24 hours has fallen by 5% as the currency went from $0.51 to $0.48 over 24 hours. The market cap of the currency too, took a major hit as Ripple went from $20.1 Billion to $19.1 Billion over the day – losing $1 Billion in 24 hours.
Ripple’s performance in the 7-day period is even worse as the price of the currency went from $0.638 to $0.48 over the week. The market cap fell from 24.9 Billion to 19.1 Billion in this week. It appears that a number of investors are slowly pulling out and distancing themselves from Ripple. Most market experts and cryptocurrency analysts believe that this free-fall that Ripple prices are going through may lead the currency to hit a low of as less as $0.3 before any sort of a recovery begins.
Once the currency falls below the $0.40 mark, it opens the doors for the bullish investors to begin investing. The $0.40 to $0.35 zone is being considered as Ripple’s ‘buy-zone’ where a number of bullish investors may invest huge amounts, leading to a rise in Ripple’s prices!
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