The Most Disappointing Cryptocurrency

The Most Disappointing Cryptocurrency

Analytical service CoinDesk called the Ripple-XRP cryptocurrency the biggest disappointment for investors.

It is noted that XRP in January was able to grow in price to a record for all time values ​​of $3.8, but then the exchange rate of the digital currency began to fall and fell below $1. According to data at 08:00 Moscow time on Monday, the price of one XRP was $0.86 (minus 80% to the historical maximum). Capitalization of XRP at the same time is about $34 billion, although at a peak the figure reached $138 billion.

According to CoinDesk, the reason for Ripple's growth in January was also the rumors about the addition of the asset to the Coinbase platform, but the platform did not include XRP in the auction. Such a decision, like the general fall in the Cryptocurrency market, hit the XRP rate.

Ripple, starting in 2013, produces the same-name California start-up, which develops a payment block-system for banks and other financial institutions. Participants in the Ripple network use XRP tokens for calculations. More than half (61%) of XRP tokens belong to the very startup. Total issued 100 billion XRP.

At the end of 2017, Ripple overtook the ether (Ethereum) and became the second regarding capitalization after bitcoin. On Friday, December 29, Ripple's capitalization went up by almost 33% - to $76 billion - about a third of the capitalization of bitcoin. Ether by this time moved to the third place, the capitalization of this cryptocurrency was then $72.3 billion.

The rate of Ripple a year ago, at the end of 2016, was less than $0.01. By mid-December 2017, the exchange rate rose to $1. Over the year, the Ripple exchange rate increased by almost 30,000%, capitalization - more than 20,000%.

Information Source: CoinDesk