Ripple’s XRP performance recap: A look back at token’s prices in the brutal bear market of 2018

Ripple and XRP have both had a very exciting year thus far in the brutal bear market when it comes to adoption and developments. The prices, naturally, have suffered the consequences of the bear market.

XRP, like all other cryptocurrencies at the start of 2018 was reminiscing the bull run so far, XRP in the first week of 2018 had just taken over Ethereum to become the world’s second-largest cryptocurrency. XRP was trading at a whopping $3.19 with a massive market cap of $123 billion earlier this year.

Source: CoinMarketCap

The prices took a major fall within the next three days, causing the prices to get slashed in half. XRP on January 11, 2018, were trading at a depreciated price of $1.75 and the market cap also followed the same trend and was at $66 billion.

XRP tried to get back up, as a result, the prices reached $2.10 mark, and the market cap at $81 billion, but this was ephemeral.

Furthermore, the prices took a critical hit at the end of the first week of February as the prices slipped into a free fall, reaching a low of $0.58.

The only significant rally that XRP saw after this point was on February 10, when the prices reached $1.25, post this point, all XRP saw was a boring sideways trend, which lasted all the way from mid-March to the current date.

The prices have hugged the $0.40 to $0.50 range very closely causing the entire markets for cryptocurrencies to consolidate.

The only major movement seen in this god-forsaken sideways trend was on September 30, 2018, when the prices reached $0.60 and the market cap hit $24 billion.

XRP remained patiently as the third-largest cryptocurrency all the way through mid-2018. However, there were a few times when XRP did overtake Ethereum, but was short-lived, although when XRP overtook ETH in mid-September, it was the last time XRP ever decided to fall back.

XRP prices as of December 16, 2018, were trading at $0.2910 with a measly market cap of $11.19 billion, and 24-hour trade volume at $326 million.

Most of the trade volume for XRP is coming from an exchange which is not among the famous exchanges, but from an exchange called ZB.COM through the XRP/BTC trading pair. This exchange contributes a staggering ~$40 million to the overall trade volume.

Following it is the Japanese exchange Bitbank, which contributes $38 million via the XRP/JPY trading pair.

The community and the prices for XRP deserves a break from the bear run and some sort of good news, which might already be on its way, with Ripple announcing partnerships with many financial institutions and banks.

The post Ripple’s XRP performance recap: A look back at token’s prices in the brutal bear market of 2018 appeared first on AMBCrypto.