Cryptocurrency
Why has Ripple decreased recently?
The virtual currency of Ripple is called XPR. Like all cryptocurrencies, prices are very volatile and unpredictable, and Ripple is no exception.
Prices are also closely linked to events, which are not always of an economic nature, as we will see in this article. Indeed, a legal proceeding is enough to see stock prices plummet impressively. However, if we analyze the situation of Ripple over the few years of its existence, we can state that Ripple is a quite interesting means of transaction.
To help understand the prices of XPR, the virtual currency of Ripple, we will look into its history since its creation in 2013.
In its early days, XPR did not yet exist. The current Ripple was created in Canada and did not, at the time, aim to be a cryptocurrency as we know it today. It was simply a system created for peer-to-peer payments. It was not until 2012 that Ripple’s new leaders decided to pursue the path of digital currency that they named XPR in 2013. During that year, Ripple’s XPR was only trading at 0.008 euros. That’s not even a cent of euro, to say that its beginnings were really modest. Very quickly, the value of Ripple’s digital currency XPR saw a significant increase, reaching a 200% rise from its initial value, with Ripple trading at 0.246 euros in 2016. It’s quite impressive to see how, in just three years, prices increased so much. For these reasons, many are very skeptical about these currencies and their volatility.
To answer this question, we will look at the reasons. In 2016, the value of Ripple’s XPR currency reached truly unexpected heights, establishing itself at 200% of its value from three years prior. In 2017, Ripple continued to rise, reaching a value of 0.32 against the Euro. In 2019, it continued to climb to a value of 0.41 euros. In 2013, it was at 0.008 euros, and by 2019 it had reached 0.41 euros. This is far from stable and quite the delight of investors who had bet on this digital currency.
In 2020, Ripple’s prices dropped to trade at 0.20 euros. This is a considerable drop when taking the reference from 2019. Ripple with its XPR currency is highly appreciated across the globe for many reasons. The first and most obvious reason is economic. It’s cheaper to work with Ripple (i.e., XPR) than with other currencies. These transaction fee rates were and still are among the lowest in the market. This advantage has obviously attracted a considerable number of users to use this digital currency from Ripple.
Everything is relative, and it’s based on the reference that opinions differ. Compared to 2019, Ripple has significantly dropped. It was at 0.41 euros to arrive at 0.20 euros in 2020. The reasons are essentially external factors. The pandemic has affected the entire global economic system. Ripple is primarily a means of transaction. If economic exchanges decline, it is quite normal for transactions to decrease as well and with them, stock prices. The second external factor is the lawsuit from the U.S. SEC against Ripple that only amplified the already negative effects of the pandemic on the economy. To return to the reference, if we go back from the year of XPR’s creation in 2013 to the year of 2020, Ripple’s prices were at 0.008 euros, reaching 0.20 euros. Moreover, according to the latest figures from early April 2021, Ripple’s XPS is experiencing a considerable rise to reach 0.4795 euros.
Let’s recall the key values of Ripple’s XPR:
Prices are also closely linked to events, which are not always of an economic nature, as we will see in this article. Indeed, a legal proceeding is enough to see stock prices plummet impressively. However, if we analyze the situation of Ripple over the few years of its existence, we can state that Ripple is a quite interesting means of transaction.
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Why has Ripple dropped recently? History
To help understand the prices of XPR, the virtual currency of Ripple, we will look into its history since its creation in 2013.
In its early days, XPR did not yet exist. The current Ripple was created in Canada and did not, at the time, aim to be a cryptocurrency as we know it today. It was simply a system created for peer-to-peer payments. It was not until 2012 that Ripple’s new leaders decided to pursue the path of digital currency that they named XPR in 2013. During that year, Ripple’s XPR was only trading at 0.008 euros. That’s not even a cent of euro, to say that its beginnings were really modest. Very quickly, the value of Ripple’s digital currency XPR saw a significant increase, reaching a 200% rise from its initial value, with Ripple trading at 0.246 euros in 2016. It’s quite impressive to see how, in just three years, prices increased so much. For these reasons, many are very skeptical about these currencies and their volatility.
Why has Ripple dropped recently? Appreciated or not?
To answer this question, we will look at the reasons. In 2016, the value of Ripple’s XPR currency reached truly unexpected heights, establishing itself at 200% of its value from three years prior. In 2017, Ripple continued to rise, reaching a value of 0.32 against the Euro. In 2019, it continued to climb to a value of 0.41 euros. In 2013, it was at 0.008 euros, and by 2019 it had reached 0.41 euros. This is far from stable and quite the delight of investors who had bet on this digital currency.
In 2020, Ripple’s prices dropped to trade at 0.20 euros. This is a considerable drop when taking the reference from 2019. Ripple with its XPR currency is highly appreciated across the globe for many reasons. The first and most obvious reason is economic. It’s cheaper to work with Ripple (i.e., XPR) than with other currencies. These transaction fee rates were and still are among the lowest in the market. This advantage has obviously attracted a considerable number of users to use this digital currency from Ripple.
But then, why has Ripple dropped recently?
Everything is relative, and it’s based on the reference that opinions differ. Compared to 2019, Ripple has significantly dropped. It was at 0.41 euros to arrive at 0.20 euros in 2020. The reasons are essentially external factors. The pandemic has affected the entire global economic system. Ripple is primarily a means of transaction. If economic exchanges decline, it is quite normal for transactions to decrease as well and with them, stock prices. The second external factor is the lawsuit from the U.S. SEC against Ripple that only amplified the already negative effects of the pandemic on the economy. To return to the reference, if we go back from the year of XPR’s creation in 2013 to the year of 2020, Ripple’s prices were at 0.008 euros, reaching 0.20 euros. Moreover, according to the latest figures from early April 2021, Ripple’s XPS is experiencing a considerable rise to reach 0.4795 euros.
Let’s recall the key values of Ripple’s XPR:
- April 2021: 0.48 euros;
- Year 2020: 0.20 euros;
- Year 2019: 0.41 euros;
- Year 2013: 0.008 euros.
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