XRP Price Falls Again, Justin Sun Warns About Ponzi Schemes

XRP has not had an impressive 2nd quarter. The coin has struggled to surge but has failed like several other altcoins in the market. The parent company of XRP, Ripple, has continuously focused on promoting alternate modes of payments when it comes to banking. However, these efforts have not reflected in XRP price. The XRP price prediction is declining steadily with no signs of recovery. Will XRP recover?

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.334621
3.71%

XRP Price Prediction – How Has XRP Price Fared In the Past Week?

The XRP/USD pair has seen a downtrend in the last five days. There has been a 7% drop to $0.38180 from $0.41777. its low of the week was $0.37 even though it managed to roam around the $0.40 level for the most part of the week. There were also some quick surges and dips as well.

According to Coin Market Cap, the total market cap of XRP is $16,277,548,319 while the 24 hour volume is $1,477,943,339. The present ROI of the token is 6,386.92% while the circulating supply is 42,566,596,173 XRP.

Yesterday, XRP price closed trading at $0.38. this is the lowest value of the coin recorded in the day. The same pattern continued today and there was little or no movement in price.

XRP Price Prediction: Can XRP Recover?

XRP must break the loop and trade above the psychological hurdle of $0.50 to return to the bullish zone. Many members of the XRP community are optimistic that the coin will cross this resistance zone soon. By the week’s end. It may cross the $0.45 level. XRP price has traded within the ranges of $0.36 and $0.50. the price of XRP is expected to surge in the coming months and it may continue in the uptrend.

Tron Warns About Ponzi Schemes Perpetrated with TRX, uTorrent and BitTorrent

Frauds and Ponzi schemes have become a recurring problem in the crypto industry today. These schemes have made widespread adoption to reduce rather than spread. People who do not have a good idea of what the industry entails are easily fooled by the criminals and may end up losing their crypto assets.

Tron has been the preferred network for many scammers since it has such a large membership. The crypto has been used to dupe unsuspecting enthusiasts and take their tokens worth thousands of dollars. Most times, Social Media is used to push such schemes. The founder of Tron, Justin Sun is also aware of this problem and took to Twitter to warn unsuspecting community members to stay away from Ponzi schemes perpetrated with TRX, BTT and uTorrent. Sun mentioned that the network would never ask people to send money or tokens to be part of any competition. He urged them to be careful as they hodl their tokens.

The rate of fraud in the crypto space has been overwhelming. Binance was also hacked in recent times and some tokens were stolen. The best way to avoid such fraudulent schemes is to verify them before pouring money in. Some websites clone others such as Ethereum and Tron to ask for tokens, you must be diligent at all times.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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