On\u00a0CoinMarketCap, XRP has risen to sixth place as of today, July 20, with a market value of $17.63 billion. Being able to exceed not just Binance USD but also Cardano and Solana is a noteworthy accomplishment for Ripple\u2019s native currency.<\/p>\n
Ripple\u2019s native token, XRP, provides a means of payment settlement between banks and digital assets exchanges. It decreases the number of extra steps needed when transferring money internationally, which leads to lower fees.<\/p>\n
Related Reading |\u00a0Solana And Avalanche Poised For Gains As Crypto Market Enjoys New Tailwinds<\/p>\n
However, by breaking through significant resistance, XRP overtakes Binance USD\u2019s market cap and gains the upper hand by 8%. The primary factor contributing to XRP\u2019s placement in sixth place is the coin\u2019s weekly price increase of more than 21%.<\/p>\n
There is much more to be done for the battle between Binance USD and Ripple. However, both are still trying very hard to make headway which, under the right conditions, could lead to them taking fifth or fourth place- or even third and second place- in addition to keeping their original standings of sixth and seventh.<\/p>\n
Following news updates on the SEC v. Ripple lawsuit, the more optimistic investor attitude led to an increase in the coin\u2019s price. Fans and developers of Ripple are now closely following the U.S. SEC\u2019s continuing lawsuit against the business, which appears to be interesting, according to the\u00a0most recent news.<\/p>\n
XRP is currently trading at $0.36 on the daily chart | Source: XRPUSDT from Tradingview.com
\nAnalysis Of Ripple (XRP) Struggles to Regain its Value<\/p>\n
In terms of the lifespan of cryptocurrency, Ripple is one of the longest. When it was first introduced in 2012, it frequently traded for less than $0.10. However, when the crypto market experienced a boom in late 2017 and early 2018. XRP was one of them which gained much from this boom and recorded its\u00a0all-time high on January 4, 2018, at $3.84.<\/p>\n
The coin soon started to decline, and by the end of 2018, it was only worth $0.50. By then, XRP\u2019s value continued to decline. The coin was in the early stages of a bull run that ended on\u00a0April 14, 2021, when it touched an average high of $1.96.\u00a0<\/p>\n
Since the beginning of September 2021, the sixth-largest coin has struggled, dropping more than half of its value, while dozens of other cryptocurrencies have\u00a0collapsed\u00a0in this period.<\/p>\n
The situation worsened in January 2022 when a sluggish cryptocurrency market caused XRP to end the month at $0.6191. Following that, it fell even further, reaching $0.345 on May 12 due to the market turbulence caused by the de-pegging of the TerraUSD stablecoin and the demise of LUNA.<\/p>\n
Related Reading |\u00a0Why Bitcoin Must Beat $25,500 To Establish A Bull Rally<\/p>\n
It was valued at about $0.40 on June 10. Following that, the cancellation of withdrawals by the cryptocurrency lending firm Celsius confirmed that the cryptocurrency market is in a bear market, and on June 18, it dropped to $0.2906.<\/p>\n
However, it has already bounced back from its June low and is presently trading at $0.366650, up 12.6% in 14 days. In addition,\u00a0the Finder\u2019s panel\u00a0forecasts that the price of Ripple (XRP) will increase by almost 260 % in 2022 and reach $2.55 this year at the end of December.<\/p>\n
Featured image from Flickr, chart from Tradingview.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
On\u00a0CoinMarketCap, XRP has risen to sixth place as of today, July 20, with a market value of $17.63 billion. Being able to exceed not just Binance USD but also Cardano and Solana is a noteworthy accomplishment for Ripple\u2019s native currency.<\/p>\n
Ripple\u2019s native token, XRP, provides a means of payment settlement between banks and digital assets exchanges. It decreases the number of extra steps needed when transferring money internationally, which leads to lower fees.<\/p>\n
Related Reading |\u00a0Solana And Avalanche Poised For Gains As Crypto Market Enjoys New Tailwinds<\/p>\n
However, by breaking through significant resistance, XRP overtakes Binance USD\u2019s market cap and gains the upper hand by 8%. The primary factor contributing to XRP\u2019s placement in sixth place is the coin\u2019s weekly price increase of more than 21%.<\/p>\n
There is much more to be done for the battle between Binance USD and Ripple. However, both are still trying very hard to make headway which, under the right conditions, could lead to them taking fifth or fourth place- or even third and second place- in addition to keeping their original standings of sixth and seventh.<\/p>\n
Following news updates on the SEC v. Ripple lawsuit, the more optimistic investor attitude led to an increase in the coin\u2019s price. Fans and developers of Ripple are now closely following the U.S. SEC\u2019s continuing lawsuit against the business, which appears to be interesting, according to the\u00a0most recent news.<\/p>\n
XRP is currently trading at $0.36 on the daily chart | Source: XRPUSDT from Tradingview.com
\nAnalysis Of Ripple (XRP) Struggles to Regain its Value<\/p>\n
In terms of the lifespan of cryptocurrency, Ripple is one of the longest. When it was first introduced in 2012, it frequently traded for less than $0.10. However, when the crypto market experienced a boom in late 2017 and early 2018. XRP was one of them which gained much from this boom and recorded its\u00a0all-time high on January 4, 2018, at $3.84.<\/p>\n
The coin soon started to decline, and by the end of 2018, it was only worth $0.50. By then, XRP\u2019s value continued to decline. The coin was in the early stages of a bull run that ended on\u00a0April 14, 2021, when it touched an average high of $1.96.\u00a0<\/p>\n
Since the beginning of September 2021, the sixth-largest coin has struggled, dropping more than half of its value, while dozens of other cryptocurrencies have\u00a0collapsed\u00a0in this period.<\/p>\n
The situation worsened in January 2022 when a sluggish cryptocurrency market caused XRP to end the month at $0.6191. Following that, it fell even further, reaching $0.345 on May 12 due to the market turbulence caused by the de-pegging of the TerraUSD stablecoin and the demise of LUNA.<\/p>\n
Related Reading |\u00a0Why Bitcoin Must Beat $25,500 To Establish A Bull Rally<\/p>\n
It was valued at about $0.40 on June 10. Following that, the cancellation of withdrawals by the cryptocurrency lending firm Celsius confirmed that the cryptocurrency market is in a bear market, and on June 18, it dropped to $0.2906.<\/p>\n
However, it has already bounced back from its June low and is presently trading at $0.366650, up 12.6% in 14 days. In addition,\u00a0the Finder\u2019s panel\u00a0forecasts that the price of Ripple (XRP) will increase by almost 260 % in 2022 and reach $2.55 this year at the end of December.<\/p>\n
Featured image from Flickr, chart from Tradingview.com<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-3806","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=3806"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3806\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=3806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=3806"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=3806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}