Ripple price has dropped by around 8% in the last hours, and now the cryptocurrency is trading around 2.26 Usd according to livecoinwatch data.
XRP’s market cap has fallen about 6 billion since yesterday, and now the total market cap is around 88 billion.
The fall comes after a period of growth for the cryptocurrency, who recently announced its partnership with money transfer giant MoneyGram, and plans to make more announcements in the days to come.
This negative trend is due in part to the weekend, where there is usually much less trading among investors, and not just XRP, but all major cryptocurrencies including Bitcoin, with the exception of Ethereum, the only positive cryptocurrency with about +1.30%.
However, Ripple investors continue to maintain optimism, not being deterred by small price falls and continuing to look to the future, and to the upcoming partnerships to be announced by the company. On February 7, the Yahoo summit on cryptocurrencies will take place in New York, where Brad Garlinghouse, the CEO of Ripple, was invited to speak. Many expect another announcement of high-level partnerships, such as the one with MoneyGram.
Don’t forget that one Ripple token was worth just $0.006 at the start of December 2016, but now it has seen the value increase by thousands percent as it reaches over the $0.7 mark. It’s been a rapid growth which has made everyone sit up and take notice of them.
Ripple is making waves on its own terms and works in a different way to the likes of Bitcoin and Ethereum, which most likely means that people are happy to invest in the currency. In the world of cryptocurrency, it’s always difficult to compare as each one offers a different solution to a problem