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!
For more Ripple price related updates and news stay tuned to Cryptocrimson or you can also bookmark our page. We’ll also keep adding updates to this article for real-time analysis.
You should also check out some of our recent cryptocurrency price related articles such as
Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advice.