The quotation of Ripple returns to lose value together with the rest of the sector. For Joe DiPasquale of BitBull Capital, investors are getting nervous. What prospects?
The listing of Ripple has returned to losing ground along with the rest of the cryptocurrency compartment.
The greatest concern of investors remains linked to the growing tightening on the sector, coming from China and South Korea – the latter apparently ready to involve the banks in this issue.
The reds registered by Ripple, certainly not comparable to those of last week, have reignited the attention and interest of observers including Joe DiPasquale, CEO of BitBull Capital, and Charles Thorngren, CEO of Noble Gold Investments, according to which behind the losses of XRP / USD would hide fears of various kinds.
For the aforementioned DiPasquale, the current XRP / USD reds represent only momentary profit-taking. Despite the listing of Ripple collapsed last week, the sharpest investors preferred to wait and, now that the price has partly gone up, they are selling. In other words, this could only be a passing phase.
For Charles Thorngren, however, to weigh not only on Ripple but on the market in general it is still today the climate of fear determined by the US Shutdown and by the continuous progress of the stock market, elements that are generating greater uncertainty in terms of investments.
“Investors are starting to move away from cryptocurrencies, given their less certainty, and are instead focusing on options that they feel more confident about”, said the expert.
The tightening of regulators
The setback that affected both the quotation of Ripple and the entire universe of cryptocurrencies had in fact some deeper causes that only partly have to do with the explanations provided by the experts.
2018 did not start in the best way for the virtual market, but the fault has always been attributed to the already mentioned strict legislation coming from many parts of the world. South Korea, for example, has scared the sector so much that it leads to the birth of a petition to save cryptocurrencies from collapse.
Will the volatility continue?
For many analysts, the market has not yet well understood what the true value of Ripple is. DiPasquale is convinced that the cryptocurrency is still trying to find a balance after the exciting rally of 2017.
Yet for Collin Plume, president of the Noble, volatility will continue to be felt at least until the effects of the partnership with MoneyGram will be defined.
At the time of writing, Ripple’s listing is traveling with a decline of around 7 percentage points and is trading at around 1.24 dollars.