Ripple is a cryptocurrency which has significantly underperformed. In the last one week itself, it has fallen by around 20%. However, not just for ripple but for the other cryptocurrencies as well, things are turning around. That is why many of the investors are actually asking the question whether it will rise more.
When you look at the month of March for most of the cryptocurrencies, you will realize that they have fallen by a significant amount. In many of the cases, cryptocurrencies even fell by up to 20%. That is why any small rise in currencies like ripple does not bring in much enthusiasm from the cryptocurrency traders as well as investors.
Currently, Ripple is up by 7%. However, many traders are trying to figure out if it can rise more. If indeed, it can rise more, the move you can be pretty significant. Ripple has fallen all the way from $ 3.53 to currently $ .53. As a result, any up move will be fierce as well. Moreover, like Litecoin, Ripple also has very strong fundamentals.
It is developing a payment protocol. The main advantage of this payment protocol is that you can send money anywhere around the world within a few seconds. As a result, it is being used by many corporates as well. In addition to that, the fees which ripple charges is much lower. As a result, more and more companies are utilizing ripple. The problem is that with the current downturn in the cryptocurrency market, Ripple is also falling.
However, since the fundamentals are strong, many experts believe that it will be swift to rise as well. Many investors are actually confused about the real value of Ripple. However, there is a general consensus that the current value of Ripple is actually undervalued. As a result, 30% to 40% gains are actually normal in the near future. However, 7% of those gains have come already. It remains to be seen whether it is a swift up move from here or whether Ripple falls back once again to its recent support levels and thereby rises slowly.
With the kind of fall which ripple is seen, it will be a good idea to wait it out currently. Only when there are strong signs of recovery, people should think about investing in Ripple as well as other cryptocurrencies. Till then, it will be a good idea to just observe the cryptocurrency to figure out whether it has gained the momentum back.