Ripple Takes Large Dip Since Beginning of the Year

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Although many of the largest cryptocurrencies in the space had a fantastic 2017, the year of 2018 has not been kind to crypto as of yet. With over $1 billion invested, Ripple’s XRP coin is one of the hardest hit cryptocurrencies in the most recent selloff that has taken place in the market. At first, many thought the price drop of XRP was only characteristic of some beginning of the year frights, but the selloff has continued into February.



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Many investors stated that XRP was one of the least hit of those to be affected early in the year, but the coin managed to catch up to those that had fallen in value. XRP has been working for quite some time to become a future-proof cryptocurrency by securing a large amount of partnerships with many banks across the world in the hopes of providing the future of payment systems across borders and in the digital space in general. This optimism was not able to help the price of the coin as so many others in the space had fallen short of price expectations.



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Another factor that should have impacted the price was the possibility of listing on the popular exchange known as Coinbase. This partnership was not able to happen, and coupled with a broader weakness throughout the market, the coin was not able to meet expectations. The coin currently stands at around $0.89, being down around 80% from its record high. Given that the market on cryptocurrency is still relatively in its infant stages, no one can predict what will happen to the price action of any coins in the space. The hopes are high that as the market develops, it will be able to stabilize enough to become a possibility for a future payment system in the digital age.

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