The coin XRP by Ripple has continued to take s series of beatings amongst the various cryptocurrency markets. After falling to a two-week low of $0.99, the coin has depreciated by around 12% in the last day or so as of the first of February. The third largest coin by market capitalization has continued to drop in price for around a month now as a series of hardships in the larger market and with the coin continue to effect it widely. The coin did have some recovery, but then ran out of steam somewhere around $1.72 as of January 18th.
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Many investors have decided to leave the coin in the hopes that it will soon bounce back and then they will get back in. With many large financial firms expressing interest in the technology from Ripple, it seems as though the coin does have a bright future ahead of it. Ripple is not the only coin losing a large amount of value in the cryptocurrency world. Most of the coins in the space and most notably the top 100 coins, have mostly all managed to drop in the tens of percents as of the first of the month.
Cardano and Stellar, two of the top coins in the space have both dropped by around 14% while bitcoin continues to drop. It does seem as though the price action for Ripple will continue to be bearish as long as the market is in shambles, but hopefully it will be able to pull through once the market bounces back. Given that the cryptocurrency world is so new, the massive amount of volatility seems to constantly plague the pricing of coins. The hopes are high that the market can begin to stabilize in the near future.