Ripple has slipped in red today despite the fact that other cryptocurrencies have improved to trading in green within the past few hours. Until now, Ripple was riding steadily but has not breached the $1 mark.
Why is Ripple Trading the Red?
Irrespective of the positive news from patterns, Ripple’s price still slumped today. The recent bull push in the cryptoverse wasn’t enough to keep the price on a steady rise. Ripple has fallen by 0.64% today but it wasn’t the only coin that fell, the entire cryptocurrency market dropped with Bitcoin trading at $7416, Ethereum at $574.83, and Litecoin at $117.41.
The price of XRP is expected to soar this year thanks to the partnerships the company had managed to seal over the months. The coin is expected to rise by 100% within the next few months.
While Ripple’s price should be rising today, the cryptocurrency has taken a dip and is now trading in red. The company just announced the debut of the 1.0.0 version of Ripple.
The announcement came after years and years of work to perfect the cryptocurrency ledger. This version improves many features of the Ripple blockchain which will allow more streamlined of the network. There are many other updates coming up in the next few weeks.
The release of the new version symbolises a growing maturity of the Ripple software and stability of the decentralized platform. It marks a new milestone for Ripple.
The new update enables transaction recognition and processing within 4 to 5 seconds. This makes it the fastest among cryptocurrencies.
Altcoins are gaining more popularity among cryptocurrency investors and alternatives to Bitcoin are starting to outshine the leading cryptocurrency thanks to the laborious process of performing transactions with Bitcoin.
Most investors put interest in these altcoins hoping that they will mature and sell as high as Bitcoin soon. It allows them to buy several coins with the same amount that would have been used for a single Bitcoin. Ripple is one of the best options for people trying to add to their portfolio.