(XRP) Ripple Price Update: Slow and Steady Downtrend

Ripple has been known for their innovative technology that is helping change the way we know international payment processing to be. While the technology is being considered a major breakthrough, amid all the partnerships and tie-ups, Ripple prices continue falling down a down-trend. Ripple, which recorded gains of 36,000% last year is suffering a major slowdown of late.

Ripple has been caught in a slow and steady downtrend and has been one of the most volatile currencies so far this year. It began the year with an all-time high $3.7 price and a market cap of over $100 Billion – but soon collapsed to below $1. Let us take a closer look at Ripple’s more recent performance:

(XRP) Ripple Price Over The Past 24 Hours:

Ripple, over the past 24 hours, have fallen by 4.3%. The currency opened the day at a price of $0.96 and thus began the downtrend which stopped only at the end of the day at $0.922. However, for a brief period of time, Ripple managed to touch $0.967 – its highest point of the day. The market cap at the end of the day was $36 Billion for Ripple.

(XRP) Ripple Price Over The Past 7 Days

Over the week, Ripple showed a gradual fall as the currency fell from $1.06 to $0.922 in seven days. The market cap too fell from $41 Billion to $36 Billion over the week. This comes as a rather surprising fall as Ripple’s payment network signed multiple partners this week, including the biggest payments institute in Brazil and Latin America.

(XRP) Ripple Price Expectations

XRP Ripple price update 28 February 2018
Expected movement of Ripple price | Image; Tradingview

Ripple has been caught in a downtrend – but appears to be approaching a breakout soon. It is expected that this downtrend will continue for another day or two before prices can rise again. For now, market analysts expect Ripple price to reach a high of $1.35 before meeting another major resistance in mid-March. It is also advised to set up stop losses in case of a price fall.

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Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advice.

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