News Crypto and cryptocurrencies

Ripple reverses course, loses more than 10% in one day

Ripple is the sure protagonist of the last four days. The cryptocurrency XRP has in fact ended up at the center of the attention of users of some Reddit groups, who have chosen to skyrocket the cryptocurrency prices, in a way not unlike what they did with the shares of Gamestop, the well-known sales chain of video games, on which hedge funds were betting on the downside.

Il price of Ripple so it grew very steeply over the weekend, only to reverse the course today. As we write, the Ripple quotes they are up 39% on a weekly basis, but are down nearly 15% from yesterday's peaks.

In this sense, the behavior of Ripple's values ​​seems to be very similar to what happened in Dogecoin, the other cryptocurrency placed at the center of Reddit's attention, which has been the protagonist of an unprecedented boom, and an equally remarkable collapse.

We obviously don't know what will happen to Ripple's prices in the coming days. However, it is certainly more likely that XRP quotes could end up undergoing the same treatment we noticed in Gamestop before, and Dogecoin. Therefore, we would not be surprised to see XRP prices plummet drastically in the next few hours, returning to previous levels.

In a sector as volatile as that of cryptocurrencymoreover, it is certainly easier to go through these swings, especially if access to cryptocurrency encounters some difficulties, as has happened in some exchange which in fact made it impossible to carry out the transactions requested by many users, due to the difficulty in finding useful cryptocurrencies.

We will see if the decline in XRP will stem in the short term or, as increasingly likely, will end up lasting much longer.

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Roberto Rais

A great cryptocurrency expert and a long time collaborator. He actively follows several specialized Blogs in the cryptocurrency sector as Editors

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