Sunday Analysis: XRP is Going Through a Correction

Ripple  XRP and Cardano ADA are the cryptocurrencies that have the greatest value adjustment, on a day when most are adjusting, just after several days where they have all recovered part of their value.

Something very common, after several days of rise, is that there are slight declines in the values ​​of cryptocurrencies. Two of the cryptocurrencies that are most correcting their value are Ripple and Cardano, which undergo a correction of approximately 13%, while most cryptocurrencies move in corrections of a maximum of approximately 9%, such as Bitcoin or Ethereum.

Ripple started the year in second position in the market, but since then it has lost more than half of its market capitalization. Now around 60,000 million dollars, an important value that serves to be in third position in the market. The strongest moment was when it reached the valueof 3.8 $  per token and had a market capitalization of 150,000 million dollars.

Analysts say that this correction may be due to new regulations in this field in South Korea and the decision to block access to the market to foreigners. This has been confirmed by Korbit, the third exchange house in the South Korean market, who has informed that foreigners will no longer be able to deposit or withdraw in Korean won, to avoid money laundering and to be integrated by the end of this mont.

In addition,  it is expected that by the end of this month, within the next two weeks, a large number of financial investors will arrive at the cryptocurrency market, something that will allow increasing the volume of operations and, consequently, the increase in value of cryptocurrencies. Regarding the short term, it is possible that the adjustments continue, since it is a tendency that at the beginning of the year, during the month of January, there are strong adjustments due to the Chinese New Year.

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