XRP breaks after intermediate high
Ripple currency XRP. (Image: Ripple.com)
No time right now?
The strong support of various online communities drove the price of the crypto currency Ripple / XRP to a new intermediate high on Monday. But then there was a heavy slump.
Over the past few days, the price of Ripple / XRP, which collapsed in late December after a lawsuit filed by the US Securities and Exchange Commission, has exploded. On Friday, Ripple Labs submitted a detailed response to the SEC allegations. Users of the Reddit forum Satoshistreetbets had previously called for Ripple to be purchased. The campaign was supported by some Telegram groups, some of which had tens of thousands of users, and via Twitter – initially with great success. Then, however, another crash followed.
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Ripple / XRP: all-time highs a long way off
By the weekend the Ripple course was up according to Coinmarketcap has already exploded from $ 0.2455 to $ 0.4997 in the meantime. On Monday lunchtime, the XRP token went up to almost $ 0.75. This increased the rate by 160 percent within a week. At the same time, this meant a new intermediate high for Ripple / XRP. Since spring 2018, the cryptocurrency has not been worth as much as it is now. However, XRP is still a long way from the all-time high reached at the beginning of January 2018, which Coinmarketcap states at 3.84 dollars.
The cryptocurrency has not come any closer to this goal in the past few hours. On the contrary: The course went downhill rapidly on Monday afternoon. Within a few hours, Ripple / XRP lost about half of its value. On Monday evening, the price of the cryptocurrency was trading at around $ 0.38. XRP is still worth significantly more than at the beginning of the rally. In the middle of last week, the token was below $ 0.25.
Dogecoin also fell after the price explosion
The fun currency Dogecoin also suffered a price slump. Before that, the price of Dogecoin / Doge had also been driven to an intermediate high. On Friday, the cryptocurrency, which is also supported by Tesla boss Elon Musk, was suddenly worth $ 0.08 – more than ten times as much as it was the day before. The trigger for this is likely to be, among other things, tweets from the Twitter user WSB Chairman, apparently one of the unofficial bosses of the Reddit forum Wallstreetbets, with around 300,000 followers. Wallstreetbets is currently causing a stir with its exchange of blows with hedge funds over the Gamestop share. Dogecoin / Doge was still worth $ 0.036 on Monday night.
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