Ripple Down 80% in a Month: Burned $5 Billion in 24 Hours

The listing of Ripple still in the grip of sales. XRP / USD lost more than 78% in the last month, canceling most of the gains from the start of the year.

Ripple  (XRP)  is continuing to lose ground and is now trading far from the  $ 1.00 threshold.

The general sell-off on the cryptocurrency market – accompanied today by the massive collapse of the world stock market – has ditched all the major players in circulation. The price of Bitcoin, just to give an example, has slipped so much to question the $ 6,200 threshold.

In a highly varied market, Ripple’s price was able to stand out in the past few months, growing at a significantly higher rate than the rest of the sector. Today, however, not even XRP / USD made exception from sales and has returned to slip below 70 cents. From January 6 to today, the cryptocurrency  has lost precisely 78.5 percentage points (from $ 2.79 to $ 0.60).

The trend of XRP / USD

At the beginning of the week the cryptocurrency  lost about 5 billion dollars over 24 hours because of all those doubts and all those fears that are continually breaking down on the market. Last, but not least, the choice to prohibit purchases in digital currency by credit card.

However, according to the most recent expert forecasts, the Ripple quotation still has a lot of potential for growth, above all thanks  to the scalability and the value offered to users. The CEO of the company, Brad Garlinghouse, has focused on the speed and the economy of XRP, to be compared instead to the slowness and the burden of Bitcoin. Not to mention the growing legitimacy of Ripple technology from international banks and financial institutions.

At the time of writing the listing of Ripple is trading with a fall of 16% on share 0.65 dollars, according to Coinmarketcap.

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