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XRP is a cryptocurrency created by ripple. It is a token to represent a transfer of value under a ripple network. It is basically a mediator for other currency exchanges whether it be cryptocurrency or fiat. It is basically a joker that can play any role in a money transaction. XRP is not having a good time in the market for the past two years.
Ripple Price Analysis
It has faced a high-level loss in the year 2019 and in the start of the year 2020. The currency lost about 40% of its value last year and is currently trading just an edge lower from the point it started the year. This weakness is nothing but the extension to the Incurred when the crypto market first lost its rocket momentum that left the currency in the value just under $4.00 in early 2018. This value was also followed by an unscented decline.
XRP ‘s underperformance in the year 2019 and year 2020
A couple of years have been harsh for the token created by ripple. The currency has seen the only downfall without the ray of hope. This bullish token has been showing some of its extreme level weakness in recent times.
XRP started the year 2019 with an up of $0.36 until this up was slowly but steadily chopped off and brought to a value of $0.18 in December 2019. The currency faces a decline of about 50%. The charts have not been the same for Bitcoin. Bitcoin has shown myriads of colors in the past year. The currency kick-started the year with a high of $3800 and set up a new high in the month of June with a benchmark of $13000. The same momentum was not followed and the currency also faced downfall and closed its year with an up of $7300. The trends have been different for both currencies as BTC closed the year with a 100% rise.
The break in the trend in the Macro level view
Yes, it is possible, I know you are thinking about how it is possible for XRP to dominate BTC over a larger frame. But yes it can be possible. The latest trend of XRP is changing the current value is around $0.20 which is a 21% rise from the value it started. It is predicted in the 3-day chart that the trends can move up and can achieve the support of $0.25 by mid-may.
Different views have been put forward on the Macro view of the crypto market. It is believed that if it is looked at from the year 2017, people who invested in XRP over BTC are in 1.5x profit. If these stats are calculated at the currency’s high then the profit margin can increase up to 10x. A standard pseudonymous dealer also agreed to the fact and stated
“Should you invested in XRP over BTC previous to the final bull run, your inv. Would lately be worth 1.5x the worth of a BTC investor who selected BTC. Should you buy the most sensible, you possibly can be made 10x extra. But you’ll proceed to look CT mocking holders for his or her ‘horrible funding’’” he defined”
These are just predictions till the time it comes to reality. It will be a time look that can XRP maintain this lead over the Macro level or this will also be crushed under the burden of its downfall.