Analysis: What is happening to XRP price? Is Ripple going to recover?

Ripple resistance is slowly but progressively increasing from the declines that took place during last week’s trading.

At a press time, the cryptocurrency was trading at $0.306319 USD. Comparatively, Ripple (XRP) doesn’t own the record of much gains over past 24 hours, also declined more than 2 percent.

Ripple graph

The Recent Waves

Cryptocurrencies have faced a series of knock backs worldwide. Noticeably, the SEC announced that all crypto exchange must register under the agency as national securities exchange.

Meanwhile, Ripple hits with a class action lawsuit claiming that it led to raise funds through unregistered XRP tokens sales. Moreover, the class action suits allege that the firm has violated both the Securities Act and the California Corporations Code. The accusers are now requesting court to declare the sale of XRP an unregistered securities sale. Thus, to prevent the defendants from further securities laws.

Yet another claim is that, Ripple manipulates the markets due to XRP’s centralized nature.

“We will engage in distribution strategies that we expect will result in a stable and strengthening XRP exchange rate against other currencies”.

Also, in just 4 months, XRP fell more than 30% which has seen as the major drawbacks for big players not interested to invest in. However, several say it is, “unnecessary to invest so much for just a fractional change in the payment methods”.

Predictions

In December, 2017, the CEO of Ripple – Brad Garlinghouse declared that J.P Morgan is in a talk regarding Ripple (XRP) technologies. Back then, the value of XRP exceeded to $1 level for the first time ever. As days passed, it became a hypothetical of the possibility of a Ripple and J.P Morgan partnership.

According to John McAfee, investing in Ripple can be a good start. XRP has been in the industry since 2012, encouraging speeds for international transactions at lower cost. It works directly with bank and has experienced good innovation.

ripple market cap

What are you upto in regards of Ripple (XRP)? Is it worth investing?

Share your feedback with us on Twitter and Telegram.

You can also connect with us by subscribing to our newsletter.

Tags
Show More

Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

5 × 2 =

Back to top button
Close