Understanding the decline in Ripple’s price

Suzette Paulsen

March 28, 2018 3:47 pm

Understanding the decline in Ripple's price | Coindelite News
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Why Ripple price is falling???

The price of XRP went down to 7.5 percent on Monday, as the crypto market continues its bearish trend showing no signs of recovery for now.

It continues business as usual for the cryptocurrency, which is now in its fourth consecutive week sitting in the red, with a small sign of revitalization.

The weekend saw the price drop slightly, seeing prices as low as $0.57 this morning, currently sitting at $0.58, as of 7.30am.

Continued threats of regulation and the perceived skepticism of crypto-success have seen the price of all cryptocurrency markets remain negative for the past month.

Why is Ripple falling?

This question is a very common question on the lips of investors. However, the market seems to be keenly affected by these warnings early in 2018.

Securities and Exchange Commission (SEC) again confused investors as they promised to bring cryptocurrencies to regulation amid fears of widespread hacks.

Adding to this, a Japanese Bitcoin investor known as ‘Tokyo Whale’ rocked the market with a shocking crypto-firesale, panicking investors.

Anyhow, the apparent doom and gloom, Ripple co-founder, Jed McCaleb, is striving to make Ripple the most successful crypto coin on the market.

Speaking to CNBC, McCaleb says:

“The secret ingredient to a successful cryptocurrency is to widely distribute the underlying currency behind their holding firm.”

He said:

“What we are trying to build at Stellar is an internet level protocol, and I think it is important that that be done by a non-profit entity. Like, if you imagine an internet created by a full profit company, we would be in a very different world. And that’s essentially what we are trying to do, where payments work how information works on the internet now, where everything is interoperable.”

Mr. McCaleb included:

“You can send money to anywhere, and so you need this kind of governance and structure that wasn’t done in Ripple and kind of beyond that, it’s important to have lots and lots of participants in the network. Not just a few. So one of the things that we are doing at Stellar is distributing the underlying asset, the underlying coin very widely. I think that’s a key thing to make these things successful.”

Ripple was also one of many cryptos to have with dealt a blow this week as Twitter declared cryptocurrency adverts for Initial Coin Offerings (ICOs) would be forbidden on the platform.

In a statement, the company stated:

“We have added a new policy for Twitter Ads relating to a cryptocurrency. Under this new policy, the advertisement of ICOs and token sales will be prohibited globally.”

Adverts concerning to ICO tokens, exchanges or wallets will all be affected by the ban.

Surprisingly, 9.19 percent of millennials (18-34) would invest their cash in the market, compared to 4 percent of Gen Xers (35-54) and 3 percent of Baby Boomers.

While bitcoin (76 percent) and Ethereum ( 12 percent) proved popular among investors, Ripple managed to convince none of the millennials it is the currency to choose.

Bitcoin has become synonymous with cryptocurrencies, so it is no surprise that it scoops up most of the votes, but Ripple surprised many commentators.

For resolving this apparent lack of trust for Ripple, it is worth noting that it only fully became known completely last year and hasn’t been in the public sphere long enough to make an impact.