June 24, 2024

XRP price history analysis

The coin entered the market costing $0.0058, the price held the same rate for several years. The first price jump happened in March-April 2017. Within a few months, the coin surged to $0.03. The growth was quickly followed by another price pump to $0.2 in May. The reason for such rapid uptake was the news that Bank of Tokio-Mitsubishi joined Ripple’s network. For your information, the Bank of Tokyo is the third largest bank in the whole world.

During 2017 the XRP price was fluctuating between $0.18 and $0.3 with some pumps here and there. The new XRP ‘rally’ started with the rise of BTC in December 2017. That time Bitcoin and cryptocurrency market experienced a bullish trend with enormous price growth. As a result, the Ripple’s cryptocurrency achieved $1 per coin and in January 2018 over $3.

The coin dropped to $0.07 in February and pumped again to $1 per XRP. For one month the currency held its price positions and then started dropping. In April it got to $0.5 again thanks to Bitcoin. Bitcoin managed to overcome the $8000 mark after its rate suddenly rose by more than $1000 on April 12th. Common for this market, most cryptocurrencies follow the movement of bitcoin, and Ripple is no exception. Then the coin started gradually falling and reached $0.26.

In September, Ripple announced the launch of xRapid – a platform for payment providers and financial institutions. Amid the announcement, XRP quotes started rising and at some point the asset even managed to temporarily move Ethereum from second place on the CoinMarketCap list, showing more than 100% growth. Till November the digital coin was traded between $0.5 and $0.39 and then fell to $0.28 in December 2018.

For almost half a year the rate of XRP was around $0.3. In April 2019 the market started restoring and the coin jumped to 0.4-0.45 USD in May. However, it was followed by correction and today XRP is traded for around $0.3.