Crypto Latest News: the most recent updates on Ripple’s cryptocurrency

Crypto Latest News: The Volatile Journey of XRP, A Historical Price Analysis

Crypto News– The current price level of XRP is comparable to that of October 2023, before the onset of the recent bull run. Interestingly, this is also the same price level as in June of the previous year, and it is lower than the price at the beginning of 2021. In fact, the current price mirrors that of October 2018, leading to the observation that the price of XRP has been fluctuating around the half-dollar mark for nearly six years. Despite these fluctuations, XRP has not remained static during this period.

Back in 2017, before the significant bull run that drove its price to an all-time high of $3.8 in January 2018, XRP was valued at just under $0.3. This means that the current price is only about 70% higher than it was seven years ago. Following the burst of the initial speculative bubble in 2018, XRP’s price first dropped to $0.5 before falling below $0.3. The situation worsened in the subsequent years, reaching a low of $0.15 in March 2020 at the onset of the pandemic.

Throughout the remainder of 2020, XRP’s price managed to recover to around $0.3, and by the end of the year, it surged to nearly $0.7. However, this upward momentum was halted by the SEC’s lawsuit against Ripple and XRP. Even during the major bull run of 2021, XRP’s price struggled to surpass $2.

When the second speculative bubble burst in 2022, XRP’s price fell back to around $0.3. Since then, it has oscillated between $0.3 and $0.7, with a brief exception in July 2023, following a favorable ruling in the lawsuit against the SEC. This history highlights the volatile yet somewhat predictable pattern in the price movements of XRP over the years.

Recent Trend

During 2024, the price of XRP has experienced several fluctuations. Initially, it dropped from $0.63 to $0.5, only to rise again to $0.71. However, this increase was short-lived as the price fell back to $0.48 by April. Over the past month, XRP has been trading within a very narrow range, fluctuating between $0.48 and $0.56.

Beginning on May 7th, XRP started a downward trend that saw its value decrease to $0.49 last week. This was followed by a slight rebound, with the price rising above $0.52 by last Friday. Yesterday, the price dipped slightly to $0.50, but it recovered to $0.51 today. Over the past twelve days, XRP has consistently fluctuated between $0.49 and $0.52.

Despite the small rebound last week, these movements are characteristic of the sideways trading range that has persisted for the past two months. Extending the analysis further, since July of the previous year, XRP has not managed to sustain a price well above $0.7. However, it is worth noting that for over a year, the price has not fallen below $0.48.

This extended period of fluctuation indicates that while there have been significant movements within a confined range, the price has remained relatively stable in the long term, without any dramatic drops or sustained increases.

Recent updates on Ripple (XRP) cryptocurrency

Over the past twelve months, the price of XRP has seen little significant movement, remaining stable without any major positive or negative shifts. Recent news has only managed to nudge it within its existing sideways trading range.

Last week’s positive news about inflation in the USA had some favorable impact on the price of XRP. However, this wasn’t enough to invigorate the broader crypto market, which has remained relatively flat for several weeks.

There has been one notable development, though. According to data from Santiment, XRP whales—wallets holding between 1 million and 10 million XRP—have significantly increased their holdings. In the last two weeks alone, these large holders have accumulated an additional 110 million XRP, boosting their wealth in this cryptocurrency by about $55 million. This suggests a period of accumulation among the largest XRP investors.

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