R.I.P. Ripple

This is exactly the kind of out-of-the-blue event that scares me about the likes of crypto. I am referring to Ripple, which is at twenty cents, a price represented by this price action:

(Click on image to enlarge)

Of course, even though the graph above does represent the present price of 20 cents, the chart is from the beginning of Ripple’s success (2017) instead of its demise (right about now). More recent price action, which brings it full circle to the twenty-cent level, is like so:

(Click on image to enlarge)

This conceals the real meat of the story, of course, which is that $XRP lost about 97% of its value from its early 2018 peak, a time during which Ripple’s founder was, on paper, richer than Mark Zuckerberg. Rest easy that Zuck has secured his rightful place once more.

I just wonder if, in the future, some kind of government edict or action wouldn’t have the same effect on the likes of $LTC, $ETH, or, heaven forbid, $BTC. Let’s face it, Ripple was relatively big in the alt-coin scene, and all it took was one press release from the enfeebled SEC to torpedo XRP.

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Mike Nolan 3 weeks ago Member's comment

Holy Crap!!!