Falling Ripple Price Could be a Blessing in Disguise

Falling Ripple Price Could be a Blessing in Disguise

Falling Ripple Price Could be a Blessing in Disguise

The Ripple price charts have taken a tumble once again, but this time it might not be a bad thing. Looking at the Ripple price live on September 11, a 4.33% drop overnight had taken its value in dollars to $0.26. For those who invest in this crypto, that price point will look familiar as it’s where Ripple ended 2017.

Given what’s happened so far this year, the natural assumption is that XRP coins are set to remain in the doldrums for the next few months. However, others are less pessimistic. Writing for Digital Journey, Ken Hanly believes the current price of Ripple might be a blessing in disguise. In his view, the low price might encourage more people to invest, regardless of any issues the project might be facing.

Is History Repeating?

XRP/USD price chart 2017/2018
XRP/USD price chart 2017/2018

Although investments don’t typically work that way, the analysis does have some merit. For starters, the crypto boom of 2017 was partly due to the low cost of emerging tokens. As Bitcoin’s price started to skyrocket, the rest of the market followed and that gave low-level investors a chance to get in on the bottom floor and make a profit. Another potential positive is the movement XRP made earlier this year.

Following a low of $0.24 in November 2017, the Ripple price in dollars boomed in January. With a two-month stretch, the value topped $3 and it looked as though XRP was on its way to challenging Ethereum for second spot on the crypto rankings. Of course, we all know what happened after that. However, there is clearly a historical precedent when it comes to cheap digital coins hitting an unexpected upswing.

If Cryptos Don’t Replace Fiats Its Good for Ripple’s Price

coins and cash

In tandem with the movements of the past, Ripple has been responsible for a number of interesting innovations in recent months. The platform’s blossoming relationship with American Express has given the project some mainstream exposure, while successful xRapid trials have shown Ripple has real utility. Another interesting wrinkle that could affect the price of XRP coins in the coming weeks came courtesy of CEO Brad Garlinghouse.

Describing the current debate regarding whether XRP is a security or not, Garlinghouse said that there is no point replacing fiats with cryptocurrencies. The process of replacing one for the other has been researched by Imperial College experts, but Garlinghouse believes it’s not necessary. The implication here is that Bitcoin et al aren’t worth investing in. In turn, because Ripple’s XRP token isn’t intended to be a currency, this is worth investing in.

Of course, there’s a natural bias here and others in the sector will disagree with Garlinghouse. However, if investors pick up on this, it could sway the market and save the Ripple price charts from any further downward trends.

*Any information in this article should not be taken as investment advice. 

Leave a reply


There are no comments on this post.

Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.

CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.

When trading in stocks your capital is at risk.

Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.