Ripple is Under a Lot of Pressure as the Cryptocurrency Market Encounters a Dip

The cryptocurrency market has observed a massive fall in prices overnight and has put many investors at stake. According to the market trend, it seems like there is very less hope for the prices to go up in the next few days.

Most of the top coins, including Bitcoin, has been affected over the last couple of days. Of all the digital currencies, Ripple has been the worst affected. The decline of this coin has been witnessed for a few months now. Since January, the coin has lost 82% of its value.

Ripple has not been featured on the US-based exchanges despite it being available on nearly 60 global exchanges. The entire industry witnessed a fall due to the advertising policies and regulations over social media sites and search engines such as Google and Facebook.

In fact, Ripple saw a huge fall after Twitter followed the internet giants by banning cryptocurrency ads. The bearish trend that Ripple is facing has been its reality for a few months now.

On the brighter side, every time the price falls, some investors still continue to spend for the coin because they believe that this is the right time to invest, with the hope that the good days will come back soon and the prices will go up again.

The company has not given up. They have brought to attention a few good reasons why Ripple will survive despite the considerable setback and fall in its price.

A Ray of Hope for Ripple

• Although ripple is one of the cheapest coins, Ripple labs are still marketing the coin hoping that it will do better in the future.
• The CEO of Ripple, Brad Garlinghouse, mentioned that they are working towards building a network of globalized payment systems. With this feature, companies can send instant payments across the globe.
• The CEO even brings to attention the strong partners that Ripple holds, including Bank of England as well as Saudi Central bank. This shows that Ripple could survive amidst the massive fall in the cryptocurrency market.
• Brad Garlinghouse states that Ripple is here to stay. He even goes on to compare Bitcoin and XRP and says that Bitcoin has a very slow transaction compared to XRP. When compared to other market cap network, Ripple seems to have a cheaper transaction rate.
• Ripple seems to be one of the few companies that have real money that is coming in, apart from the trading money. This should bring hope to people who have invested in Ripple.

The fall in value is something that is seen across the market, including coins like Bitcoin and Ethereum. The fall has been due to many reasons including the internet’s resistance to cryptocurrency advertising and also because the blockchain technology seems to open doors to illegal activities.

Although Ripple seems to be having a huge knockdown, it is also important to remember that the coin gained attention only in the recent past and has managed to make an impact thus far.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Aurelie Vacher via Flickr