Home / Ripple / Ripple (XRP) is down by almost 20% in seven days – that's why

Ripple (XRP) is down by almost 20% in seven days – that's why

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Ripple (XRP) has had a phenomenal month in September, increasing by more than 100% the investors who have accumulated in the digital XRP chip, hoping that it would become the de facto way in which banks and financial services companies have transferred money across borders.

However, the price of ripple dropped from recent highs of $ 0.61 from the start of the Ripple Swell to just $ 0.48. From the long-awaited Ripple Swell event, the wind was somehow removed from the XPR wings.

The price of the ripple decreased by about 17% in the last week as & nbsp;the volume of XRP has decreased by over 50% in the last four days.

Ripple, the informal name of the XRP cryptocurrency, has seen a trade volume of over $ 4 billion per 24 hours in September, although this has dropped to only $ 500 million in the last 24 hours.

A & nbsp; visual representation of digital cryptocurrency, ripple (XRP). (Photo by S3studio / Getty Images)

Meanwhile, ripple and cryptocurrency analysts have speculated that XRP investors have been eager to profit from the recent ripple price hike. The ripple fell from & nbsp; $ 3.71 at the start of the year fell to $ 0.26 earlier in September. The price of the ripple started in 2017 for only $ 0.006.

However, there could be good news for ripple and Ripple Labs at the horizon.

It was reported this morning Ripple will be one of the new technologies that will be exhibited at the Swift Sibos conference this year, one of the biggest world conferences in the world of financial technology (fintech).

Ripple Labs, using its XRP digital token and nbsp; he's trying to deepen Swift's business, which is still the way most financial services companies and banks transfer money around the world. Ripple Labs thinks that blockchain and cryptocurrency will make it cheaper and faster to transfer money and value across borders.

Some have speculated that Ripple Labs could make some big XRP-related announcements at Sibos, potentially paving the way for another price increase.

The increase in Ripple prices in September was triggered by & nbsp;Ripple Labs (the company behind the rippled XRP token) teases the details of his & nbsp;new xRapid service & nbsp;& nbsp; – which will allow banks to make international transactions using XRP in "a matter of minutes."

Ripple Labs then revealed & nbsp;three companies – payment service providers MercuryFX and Cuallix and the financial cooperative Catalyst Corporate Credit Union – will be the first to launch the service, announced by Ripple CEO, Brad Garlinghouse, on the stage at Ripple's Swell Conference in San Francisco.

The price of the ripple (XRP) rose in September after months of losses.CoinDesk

As a result of the ripple wave, XRP briefly passed ethereum as the& nbsp; the second largest cryptocurrency in the world by total market capitalization – a place where ethereum has been fighting for several weeks. & nbsp;

Ripple has since lost ground for the ethereum. The market capitalization of XRP is now $ 19.1 billion, compared to $ 23 billion of ethereum. Bitcoin remains far ahead in terms of market capitalization, with an accuracy of $ 113 billion, according to the data of CoinMarketCap.

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Ripple (XRP) had a phenomenal month in September, climbing more than 100% with investors who have accumulated in the digital XRP chip, hoping it would become the de facto way banks and financial services companies have transferred money through borders.

However, the price of ripple dropped from recent highs of $ 0.61 from the start of the Ripple Swell to just $ 0.48. Since the long-awaited Ripple Swell event, the wind was somehow removed from the XPR sails.

The price of the ripple decreased by about 17% in the last week the volume of XRP has decreased by over 50% in the last four days.

Ripple, the informal name of the XRP cryptocurrency, has seen a trade volume of over $ 4 billion per 24 hours in September, although this has dropped to only $ 500 million in the last 24 hours.

A visual representation of the digital cryptocurrency, ripple (XRP). (Photo by S3studio / Getty Images)

Meanwhile, ripple and cryptocurrency analysts have speculated that XRP investors have been eager to profit from the recent ripple price hike. The ripple dropped from $ 3.71 at the start of the year and dropped to $ 0.26 at the beginning of September. The price of the ripple started in 2017 for only $ 0.006.

However, there could be good news for ripple and Ripple Labs at the horizon.

This morning it was reported that ripple will be one of the new technologies that will be exhibited this year at the Swift conference in Sibos, one of the world's largest conferences in the world of financial technology (fintech).

Ripple Labs, which uses its XRP for digital tokens, is looking to deepen Swift's business, which is still the way most financial services companies and banks transfer money around the world. Ripple Labs thinks that blockchain and cryptocurrency will make it cheaper and faster to transfer money and value across borders.

Some have speculated that Ripple Labs could make some big XRP-related announcements at Sibos, potentially paving the way for another price increase.

The rise in prices of Ripple in September has been triggered by Ripple Labs (the company behind the rippled XRP token) teases his details new xRapid service – which will allow banks to carry out international transactions using XRP in "a matter of minutes".

Ripple Labs then revealed three companies – the payment service providers MercuryFX and Cuallix and the financial cooperative Catalyst Corporate Credit Union – would be the first to launch the service, announced by Ripple CEO Brad Garlinghouse on the stage of the Ripple & # 39; s Swell Conference in San Francisco.

The price of the ripple (XRP) rose in September after months of losses.CoinDesk

As a result of the wave of ripple, XRP has briefly exceeded ethereum as the second largest cryptocurrency in the world by total market capitalization – a place where ethereum has been fighting for several weeks.

Ripple has since lost ground for the ethereum. The market capitalization of XRP is now $ 19.1 billion, compared to $ 23 billion of ethereum. Bitcoin remains far ahead in terms of market capitalization, with a tempting $ 113 billion, according to CoinMarketCap data.

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