Is Ripple (XRP) Dead?

Vinod Dsouza
is xrp ripple dead
Source: Pixabay

Ripple (XRP) was launched in 2012 and was touted to be the ‘next big thing’ in the cryptocurrency market. Back then, XRP was the ‘go-to’ crypto and enjoyed similar fanfare that the present-day meme-coins enjoy. Hundreds of blogs on why Ripple will change the crypto sphere were written and it spilled on over the years. The development made Ripple the star of the crypto market and an undisputed king among social media circles.

From its all-time low of $0.00268621 in May 2014, XRP went on an upward spree breaking all barriers of resistance up until early 2018. It hit an all-time high of $3.40 in January 2018 and was poised to grow further and reward investors with handsome returns. However, little did investors know that XRP’s glory days have come to a screeching halt and stormy days are ahead.

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After touching its ATH of $3.40 in early 2018, Ripple is going everywhere except upwards in the indices. The crypto is falling into a never-ending abyss of dismal performance and its ‘star value’ is now shattered.

To add to its troubles, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple in late-2020, accusing Ripple of conducting illegal security offerings from one of its XRP digital assets. The Ripple v/s SEC lawsuit is ongoing in courts and the two locked horns for more than 2 years.

Since then, Ripple’s price remains like a broken compass that barely moves forward. If it moved, it went backward. The crypto dipped all along this year falling below the $1 mark. XRP is struggling to breach the $1 mark but is unable to stand on its own feet and move ahead.

Investors Wonder If Ripple (XRP) Is Dead

The once-upon-a-time ‘go-to star’ is now the talk of negativity in the market. On all formats of social media, be it Twitter, Reddit, Quora, or Facebook among others, questions about ‘Is Ripple Dead?’ are splattered everywhere. The same question has been repeated innumerable times by multiple holders over the years riffling lots of feathers in the community. The snapshot is just the tip of the iceberg and there are a plethora of questions about the same subject.

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Source: Google

While some jumped in the comments defending XRP, the others claim that its days are over. Below is just a small amount of screenshots about how XRP is faring in the social media world. Even a simple Google search on ‘Is Ripple XRP Dead’ will deliver similar stories dating from 2016 to the present day.

Source: Twitter
Source: Reddit

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So Is It Really Dead?

The answer is no! Despite being on a downward spiral, Ripple is the 7th most popular cryptocurrency in the world with a large trading volume. Its market cap stands at a$35.8 billion and it stood like a rock under the ‘top 20 crypto list’ for 2 years. Analysts predict that Ripple could see better days ahead after it wins the Ripple v/s SEC lawsuit but could remain stagnant until the case is resolved.

Patience is the key to all XRP holders and someday, it might shed its ‘downward trend’ and end up being a star again. However, its highly unlikely that the event will occur anytime soon during the current market conditions.

At press time, Ripple was trading at $0.722125 and is down -4.8% in the 24-hours day trade. It is now down -78.1% from its ATH which it reached in January 2018.