Among the topmost cryptocurrencies, it can be argued that Ripple is the worst performing cryptocurrency. It is down by almost 80% from the peak levels. Still, when you look at the levels at which it was trading 1 year back, it is up multifold. However, in the year 2018, it has been the worst performing cryptocurrency. Currently, it is trading around $ .49.
Any sign of recovery which was visible in ripple 48 hours back has completely vanished. In the last 48 hours, it has fallen by more than 10%. This is similar to the other cryptocurrencies which have fallen by similar amounts as well. This is the reason why investors are not willing to touch ripple.
The entire cryptocurrency market is underperforming however, Ripple is the most underperforming cryptocurrency. This is the reason why there is a complete loss of momentum in Ripple as well as other cryptocurrencies.
Moreover, South Korea and China are consistently cracking down on cryptocurrency exchanges. In addition to that, Japan is also creating proper rules and regulations to invest in cryptocurrencies. Moreover, anonymous investments have been completely eliminated in Japan as well as South Korea. This is the reason why the demand of cryptocurrencies has gone down significantly as well.
Currently, even in significant falls, most of the investors are not coming forward to invest. This speaks volumes about the confidence of cryptocurrency investors.
At the same point in time, even the developed markets are not witnessing a significant demand when it comes to cryptocurrencies. This is the reason why there is a complete loss of momentum. Earlier, whenever there was even a small fall, there was huge buying. However, that is not been the case in 2018. This is one of the main reasons why many investors are confused as to whether they should hold their cryptocurrency Holdings or whether they should simply sell out their cryptocurrency Holdings.
With the Ripple going down each and every day, it remains to be seen whether it is able to rebound anytime soon or not. The low of this downturn is around $ .45. Ripple is trading just 10% of all those levels. As a result, many of the investors are actually nervous as to whether it will be able to hold those levels or whether it will break through those levels. Those levels will be crucial, any more fall below those levels will trigger a significant sell-off.
David is passionate about learning cryptography, tech and the Internet. He has years of experience working at international investment projects. Growing interested in Blockchain and cryptocurrencies in late 2015, he joined Smartereum as an editor.
