The wild child of the crypto world, XRP has earned both applause and flak from the mainstream economy scene. While heritage financial institutions like iconic banks have embraced XRP, the legendary US SEC has even gone to the extent of filing a lawsuit against Ripple- XRP’s parent company. This radical duality naturally leads to dramatic price fluctuations and XRP has not been immune to it. Put simply, the Ripple does witness strong price fluctuations time and again, leaving the investors to question the ROI potential of the coin. However, crypto analysts are optimistic about XRP, especially owing to its growing adoption rate and strong fundamentals. Crypto experts have predicted that the Ripple coin shows the potential to cross $5 by 2030, thereby beckoning magnum yields for current investors after 8-9 years.
Overview of XRP
XRP is launched by US-based leading fintech company Ripple Labs. Ripple is a cutting-edge international payments network that is used by several renowned financial institutions like banks. The company also serves as an advanced network for currency exchange. XRP, also dubbed as “Ripple Coin”, is the native crypto token of Ripple.
Must Read: Why Cryptocurrency rise in 2022
Launched in 2012, XRP used to be the 3rd largest crypto (in regard to market cap), after BTC and ETH. Currently, it’s in the 8th position in the list of top 10 cryptocurrencies.
XRP crash stirring concerns
XRP price is crashing- and crashing hard. In the last quarter of May 2022, the coin price was down by around 42 percent. The coin was hovering around $0.77 in April 2022- cut to June 2022, XRP price is around $0.32.
Crypto experts are especially worried because XRP has reached below its crucial support price which is $0.38. The coin has only plummeted down over the last one month and is suspected of entering a bearish phase lately. Some crypto experts have even been alarmed that the XRP price might plunge down to as low as 20 cents!