Ripple Market Overview
Ripple is a real-time gross settlement, which is also referred to as Ripple Transaction Protocol (RTXP) or Ripple protocol. According to market capitalization, Ripple is one of the top 10 cryptocurrencies. Ripple price has come down to 33% since a high of $0.35 on February 14. It is currently trading around $0.20. Now the future price of the cryptocurrency will depend on two major events – Bitcoin Halving and coronavirus. The pandemic has already affected the global equity market. Bitcoin is a hedge to the traditional financial market, which means that the continuation of the downside would see an increase in the value of the Bitcoin. The rise in the Bitcoin will also trickle across the altcoins like Ethereum and XRP.
The crypto market is experiencing continuous price fluctuations. The top ten cryptocurrencies are trading with constant volatility along with other altcoins. The value of the XRP coin isn’t showing any good currently. The current price is around $0.202187, and it is ranked 3rd of all the cryptocurrencies.
Ripple Historical Price
Ripple is a blockchain solution for global payments. The developers of Ripple realized that the infrastructure for the payments that we use today was built back before the Internet was introduced. Since then, there have been only limited updates. With Ripple, a new payment infrastructure was developed, which is more reliable and works in a speedier manner while reducing the cost. Ripple lost half of its value in 2019 and two-thirds of its value against Bitcoin. 2019 was a bad year for XRP, which saw new lows. Ripple continued making lower highs last year. This downtrend corrected in the first half of the year 2020.