When Bitcoin was increasing significantly in November-December 2017 and January 2018, many other digital currencies were doing well too. Analysts have analyzed that whenever the value of Bitcoin increases significantly, other currencies also follow the trend.
Similar to other cryptocurrencies, XRP had difficulty in the better part of 2018, since its best success of $ 3.65 in January.
The prediction of Thomas Lee
Tom Lee, Managing Partner and Head of Research at Fundstrat Global Advisors, has predicted that Bitcoin (BTC) will reach $ 25,000. If BTC had fulfilled Lee's prophecy, it would also have allowed Ripple / XRP to skyrocket to $ 10 by the end of 2018 and hit $ 24 by 2022.
When BTC achieved its best success of nearly $ 19,000, XRP tried to reach $ 3.60. Unfortunately, for XRP and BTC investors, BTC did not reach the expected levels.
Bitcoin ETFs have been on the front page in the recent past. Some people even suggest that they are the cause of the recent downward trend in cryptographic markets. However, even after the SEC's refusal of the ETF, the prices of most cryptocurrencies had not been cheated as much as previously thought.
XRP is still facing the Problems
However, the triumph of BTC does not automatically guarantee the victory of XRP. This is because cryptocurrency is still facing some challenges. For beginners, the XRP is under review by the US Security and Exchange Commission (SEC). If SEC concludes that XRP falls into the securities category, then the currency will face the strict SEC regulations.
Many people have also raised issues with the company's appearance of being more central than other digital currencies. Critics of XRP have long argued that Ripple is partially decentralized as the company controls client accounts. This problem was raised when the management of Ripple froze 55 billion XRPs in Escrow to certify the inevitability of the total offer of XP.