Ripple cryptocurrency which is one of the very few cryptocurrencies which has fallen over 75% from the peak, has risen sharply in the last 24 hours. From the bottom, it is already up by more than 50%. It made a low of around $ .56 and since then has risen to around $ .95. Currently, it is even trading above $ 1. This marks a significant amount of gain from the recent bottom.
The earlier high from which it had fallen was around $ 3.35. Owing to this very reason, the fall has been pretty severe as well. Most of the investors who have invested in the cryptocurrency at the top are worried that it might not make new highs.
Gathering new clients:
Ripple is actually a protocol for transferring money anywhere around the world instantly.
The transaction verification times for ripple are as low as just 5 to 7 seconds. It has been consistently signing up new banks as well as payment processors from all across the world in order to use its protocol. This is one of the main reasons why ripple has been increasing consistently. Moreover, due to the rise in ripple the other cryptocurrencies are in buoyant mood as well. Bitcoin as well as Bitcoin cash increased in value as well. The percentage which they have increased by is on the lower side when you compare it with ripple.
Almost each and every month, there is news of ripple signing up a marquee and a high-profile client. This is consistently providing momentum. In the last few weeks, however, as the downturn continued, this news was ignored by the market as well as by the ripple investors. Some of the investors gathered the courage to buy when it was consistently falling as well. The tide seems to be turning up with the ripple cryptocurrency having almost doubled in the last few hours. Moreover, the cryptocurrency market is much more optimistic as well owing to which, it is gaining more and more momentum.
If you’re a potential investor in ripple, it is a good time to watch closely the movement of ripple and thereafter find out whether it is worth investing right now or whether you should wait for a certain period of time to find out if the current rally is actually real. Only once there is confirmation that the downturn is over and the rally is actually real, more and more investors would start investing in ripple.