Our coverage:

Ripple (XRP.X) is down today: why?

Carla Olson | 6:47 am ET, 11 May 2018

Recently there has been a lot of positive momentum for Ripple (XRP.X)--the parent company of this cryptocurrency revealed the results of the first pilot study demonstrating lower transaction costs compared to traditional foreign exchange options.  The study showed a 40% to 70% reduction in expenses compared to legacy solutions.  What as even more impressive is the average Ripple payment time of two minutes, a stark contrast to three days, which is the time it typically takes to execute cross-border payments. 

But the cryptocurrency is down 16% despite the fabulous news.  What's driving the coin price down?  What's the Ripple price forecast?   

A week ago a class-action lawsuit was filed against the CEO of Ripple,  Brad Garlinghouse, as well as the parent company Ripple Labs.  The lawsuit claims that the cryptocurrency is scamming people. It was filed in California by Ripple’s very own investors.

The lawsuit was filed by Taylor-Copeland Law that focuses on crypto and blockchain litigation. The lead investor mentioned in the lawsuit is Ryan Coffee, who portends that Ripple is breaking both federal and state security laws, and is misleading the public regarding their services.

The market capitalization of all cryptocurrencies has dipped following the criticism from famous investors and entrepreneurs: Warren Buffett, Charlie Munger, and Bill Gates.  Gates opined that he would short Bitcoin if he could. 

The falling knife pattern of Ripple's price is concerning to traders.  For the latest price and news on Ripple, please check Finstead and search for "XRP.X price" or "XRP.X news". 

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Ripple (XRP.X) comeback: a bull case

Carla Olson | 1:21 am ET, 22 Apr 2018

Ripple (XRP.X) recently bounced from its 3-month low and is attracting speculators’ interest again.  For the latest news and price about Ripple, visit Finstead and type “Ripple news” or “Ripple price”. 

What do you need to know about Ripple?

Ripple is a blockchain solution with a promise to transform the banking system. It is a RTGS (real-time gross settlement) system, currency exchange and remittance network designed by the Ripple Company.

Many renowned banks and payment providers are the clients of the company. Ripple aims at enhancing the efficiency of cross-border payments for its clients who make transactions worth billions every day.

Ripple hit an all-time high of $3.30 in January but it reached a low of 47 cents on April 6th.   Since then Ripple's price has almost doubled.  

Why has Ripple surged recently?   Here are the top three reasons:

  • Several channels reported that Binance, a crypto exchange, would allow its users to purchase altcoins using US dollars, which might have contributed to Ripple’s gains. However, Binance denied that it had plans to allow fiat currency transactions.
  • Expectations are high that XRP will be listed on one of the top crypto exchanges this year.
  • The tax season in the US also may have contributed to Ripple’s surge. Many investors cashed out their cryptocurrencies to pay for their tax dues.  Now that the tax season is over, speculators are back to taking positions in Ripple and other altcoins.

It’s important to note that the entire crypto market is up and the general sentiment is that we’re finally coming out of a bear market and entering a bull market. 

However, be careful about investing in Ripple—cryptos are an unregulated market with an extreme volatility, so be prepared to lose all your money if you invest in cryptos.

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Try Finstead: the fastest way to get market data and insights on stocks, ETFs, mutual funds, and cryptocurrencies