|09:00:00 IST, 12 Aug||₹32.91||↑0.02|
|06:30:00 IST, 12 Aug||₹32.89||↑0.11|
|04:00:00 IST, 12 Aug||₹32.78||↓0.42|
|01:30:00 IST, 12 Aug||₹33.20||↑0.28|
|11:00:00 IST, 12 Aug||₹32.92||↓0.14|
|08:30:00 IST, 12 Aug||₹33.06||0.00|
Cryptocurrencies are attracting more and more investors, even though the sector is not yet regulated. In terms of cryptocurrencies, the choice is very wide. The best known is probably bitcoin, but there are others including the Ripple. Access to this market is very simple and there is no need for significant capital to invest in these cryptocurrencies. The analysis of course evolution is nevertheless essential.
Regarding the price of the Ripple, it is evolving and is currently experiencing a fairly substantial increase against the dollar and Bitcoin.
Even though, In the past 8 months, XRP has seen quite a number of ups and downs, the price has more or less been stable throughout the period with a mild growth in price of about 19%. However, there were some noticeable spikes in the price observed in the period of May to early July. Notably, this was also the period when BTC price showed a positive market sentiment, which drove the prices up for other cryptocurrencies like XRP, ETH and others. However, that couldn’t be the sole reason why XRP recovered in the past few months as Ripple has constantly been building alliances with financial corporations and banking institutions, among which XRP’s association with Bank of America is one of the most prominent. Reportedly, Bank of America filed a patent to use Ripple’s blockchain for faster applications processing. Also, Facebook’s recently announced Libra coin has been fuelling the market for BTC and most altcoins, which explains the sharp spikes in price during the second half of June 2019, including Libra. Currently, XRP price sits at approximately Rs. 24 with a stable market.
In July, so far, the price of XRP has been declining. Starting from Rs. 30.41, XRP has been trading at lesser price everyday. As of 24th July, the price has declined more than 20%, hitting Rs. 24.19.
XRP price picked quite a bit the next day, the first day of June 2019, hitting Rs. 31.98. The highest that XRP touched in June was Rs. 35.03. Most of the selling action happened between 23 June to 26 June during which the price of XRP stayed above Rs. 24.00. XRP closed at Rs. 30.16, concluding the price action for the month.
Picking up nearly at Rs. 23.32, XRP prices went through the roof by 31st May, standing at a staggering Rs. 31.83. However, the highest price that XRP touched for the month was Rs. 33.64 on 30th May.
From the perspective of trading, April seemed like a good period. Even though the beginning of the month wasn’t too price aggressive, with XRP trading at Rs. 22.92 on 1st April 2019, on 7th April, XRP provided a good trading opportunity for sellers when it crossed Rs. 26.09 for the day. Eventually, the price closed at Rs. 23.41, which was slightly above the opening price for the month.
Picking up from about Rs. 23.79 again, there was only a slight price recovery in XRP price when the coin hit Rs. 24.03 and Rs. 24.05 on 6th and 7th March. But as destiny would have it, XRP took a fall, landing up at Rs. 22.85.
The first day of February began with XRP plunging even lower at Rs. 23.79. On 19th and 24th February, XRP price showed good recovery with prices standing at Rs. 24.90 and Rs. 24.88 respectively. However, XRP was back to square one for the month, returning to Rs. 23.75.
Price of XRP opened at Rs. 27.16 and saw a constant fall, landing up at Rs. 24.85. Interestingly, the change in price was not too steep, which means the market wasn’t too volatile by the end of the month.
If we look at the overall change in the price of XRP during the month of December, it would be surprising to find that the price change was almost nil. XRP traded at around Rs. 27.50 and closed nearly at the same price @ Rs. 27.31 on 31st December.
Price movement continued where it closed in October. Observed at INR 33.59 on the first day of the month, after noticeable ups & downs in the market, Ripple closed at INR 25.27.
With a slight bearish sentiment in October 2018, Ripple price opened at INR 42.36. October-mid saw price congestion with no significant troughs and peaks, leading to an eventual close at INR 33.61.
Until the middle of September 2018, Ripple flatlined the price graph, opening at INR 24.71. In the last 10 days, price recovery happened quickly with a minor bullish trend, pushing the prices back to INR 42.18.
With no significant price movements in the month of August 2018, Ripple opened at INR 30.56 and closed at INR 23.78, which show that the overall sentiment for the month has been bearish.
The Ripple market was very average in July 2018, mostly with sideways congestion seen during the month. Ripple traded at INR 31.45 on 1 July 2018, peaked at approx. INR 36.00, and concluded the month at INR 29.83.
On 1 June 2018, Ripple closed at INR 41.69, after which, few peaks were observed on day 5. However, the bears managed to keep pulling the market down and eventually close Ripple at INR 31.83.
The bull run for Ripple continued in May 2018, as Ripple opened at INR 55.93. Ripple peaking around INR 64.59, soon lost momentum and closed at INR 41.36 for the month.
Following a bearish sentiment, Ripple price stabilised in the beginning of April 2018. Kicking-off the month at INR 31.62, Ripple showed bullish trading throughout the month. April ended with a bang for Ripple, which stood at INR 55.52 on 30 April 2018.
With the beginning of March, Ripple price was observed at INR 60.70. The month continued to be bearish, and after a sustained fall, Ripple price on 31 March 2018 was INR 33.32.
Starting off on 1 February 2018 at INR 61.22, Ripple was trading at INR 60.01 on 28 February 2018.
Initial price on 1 January 2018 was INR 155.83 and then Ripple finally reached INR 72.55 on 31 January 2018.
Since the middle of the week, most crypto-currencies have undergone a slight market correction. Nothing violent but some investors unfortunately sold down what they had bought up. Ripple had started of with 13.86 INR nad finally reached 113.4 INR which was a consolidated move following the BTC correction. In the coming months the price of XRP is determined to go up.
Ripple started from 36.83 INR and fluctuated over the weeks to finally reach at 48.49 INR In end of November, the company behind Ripple(Ripple Labs) announced that Standard Chartered and Axis Bank were launching a new payment platform based on their technology. In November 2017, American Express had reported using Ripple's network to connect Santander's customers in Europe and the United States.
After reaching 11.43 INR in September 2017, Ripple fluctuated to market trends and finally reached 37.78 INR.This sudden surge in XRP in October 2017 was due to a succession of good collaborations for the Ripple banking system, the interest of investors for altcoins and of course the decline of bitcoin on the markets in recent days.
After reaching the threshold of 10.80 INR, there was a decline in the price of the Ripple. In addition, it rose and stabilised at 11.11 INR. The evolution of the price of the Ripple goes in the right direction. During the rise, the regressive trend stopped and the price ended at 11.24 INR. The price is now expected to rise gradually after it reaches 11.43 INR.
Ripple Consensus Ledger can handle 1,000 transactions per second and XRP payment channels allow transaction throughput to increase to tens of thousands of transactions per second, making scalability comparable to Visa.
XRP is not the main purpose of Ripple. Foreign currencies are at the centre of the protocol. Ripple is a global settlement network.
Since Ripple is primarily a payment network, XRP will be used to make the network as healthy as possible, which will likely involve liquidity management with XRP.
Ripple technology is adopted by companies such as UniCredit, UBS or Santander and payment networks as a settlement infrastructure. The Ripple protocol thus integrates the banks existing networks and allows free exchange and transfer of funds.
For starters, it's useful to look at Ripple as something completely different from Bitcoin. Ripple is a back-end infrastructure and not a consumer facing product. Ripple is not a currency. It's an open source, global exchange. Anyone can access it and everyone has the same right of use. Ripple, the company, does not control the network, does not collect fees or limit access.
Ripple is a distributed and real-time payment protocol for everything related to value. It is a shared public database, with an integrated distributed currency exchange, which functions as the world's first universal translator for money. Ripple is monetary agnostic and has a currency component integrated directly into the protocol. The Ripple protocol is designed to route each transaction to the cheapest price available on the market.
Ripple is the first functional blockchain in history. Despite an eventful start (problems of understanding between the founders, mistrust of investors due to the very important centralisation of XRP at the Ripple Labs team), the project is very promising for financial institutions that want to benefit from the advantages of the registers protocols distributed. While Ethereum offers a range of near-endless but still-developing possibilities, the Ripple Labs team focused on a distributed registry model with one simple goal: to make international and cross-bank funds transfers. The concept of "gateway" is important because it is really interface between the banking world and that of cryptocurrencies and other blockchains / DLTs.