So far, 2018 has been a very bad year for Ripple (XRP). The crypto’s rise at the end of 2017 has been extremely promising, but in the following months, the coin continued to go further and further down. However, there is still time for Ripple to make a comeback and make significant gains.
Large hopes for Ripple (XRP)
Everything seemed to be fine with Ripple back in December 2017. Just like other cryptos, XRP skyrocketed and became one of the most popular coins on the market. In fact, it even managed to pass Ethereum (ETH), and many believed that it will become Bitcoin’s (BTC) direct competitor.
Many believed that Ripple is to become the top currency in no time. Some even claimed that it is still way too early for fully-decentralized currencies to dominate the market and that Ripple is the way to go. Its nature and the situation have made it extremely popular, not only with crypto investors but also with financial institutions and some of the largest banks around the world.
Ripple has been making partnerships all over the place, and almost every week has seen some sort of positive development. Names like Western Union, Santander, MoneyGram, Bank of America, and alike all hurried to partner up with this coin. The price of the crypto was expected to continue to rise, and nobody hesitated to jump on the XRP train, while it was still early.
Some predictions even stated that it is only a matter of time when Ripple will jump from 20 cents per coin to the price of Bitcoin. Such an increase, while astronomical, was always a possibility when it comes to the crypto world. Unfortunately, it never came to be, and it was all downhill from there for XRP.
And then everything changed
Soon enough, Ripple went down, and a lot. After it reached a price of $3.40 per unit, it quickly fell to $0.18 as soon as the crypto prices dropped at the beginning of the year. However, a lot of investors still believe that Ripple can, and will, make a large comeback by the end of the year.
Despite the low price, XRP still stands as one of the cryptos with the highest number of token holders. Basically, this means that people have not given up on Ripple yet, and many are waiting for the market to turn. Once it happens, some believe that Ripple will beat its former top price, and maybe even go as high as $10 per coin. This is, of course, significantly lower than the predictions that Ripple’s price will reach Bitcoins. However, even so, it would still be better than for Ripple to stay at its current price of $0.435990.
Fortunately for all these investors, Ripple seems to be doing well lately, and its charts are indicating that the crypto might finally be on a stable and serious rise again. This goes for the US dollar, as well as Bitcoin (BTC). The charts are actually relatively similar, and if Ripple continues on the current path, the coin might even be restored to its former glory before the year ends.
Despite the controversy and lawsuits that claim that Ripple is a security, which is something that its team continues to deny, the coin still holds the third place as per CoinMarketCap. Various partnerships and several products that Ripple has released continue to guarantee that the crypto is, in fact, needed on a large scale. The coin’s work on enabling better cross-border transactions is one of the strongest reasons for many to believe that Ripple will stick around and that its price will eventually make a comeback.
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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.
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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.
While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.
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Documentation is key!
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