What Determines Cryptocurrency Price?

Looking for a good crypto asset for investment, many people first check the top-traded coins, for they have the highest demand and trade volume. One of the most popular coins, which is also one of the most controversial, is XRP Ripple. Let’s discuss its essence, price, and news.

What is Ripple?

The Ripple company was founded long before the first crypto asset – Bitcoin – emerged. Initially, the platform was focused on financial corporations and banks to integrate its technology for facilitating their work processes connected with money transfers.

The SWIFT system has become outdated because it includes many middlemen, requiring high fees and taking a lot of time for currency conversion. The Ripple ledger came with the solutions to all these problems:

  • low commissions;
  • speedy work;
  • no intermediaries.

The platform is used by blockchain developers, financial companies, and individuals who want to avoid bank services and deliver money to any point in the world in a matter of a few minutes.

What is XRP Price History?

The XRP Ripple price does not show any dynamic because of the judicial process initiated by the SEC demanding the Ripple company to claim their token is security. This process pulls the XRP price down and does not allow the project to develop in full.

On the other hand, many large investors bought XRP and gold tokens long-term, waiting for the project to solve its issues with the SEC and grow.

The XRP peak price was over $2 in 2018. The next high was $1,58 in 2021. As of January 2023, the rate is $0.39, which is not very different from what it was in 2022.

The Ripple example shows that troubles with regulators primarily affect crypto prices.

How to Buy Cryptocurrency?

The XRP token is very popular and listed on all crypto platforms. If you want to take advantage of small XRP price fluctuations and use the daily trading strategy, use a reliable

cryptocurrency exchange, for example, WhiteBIT. It is a safe platform for trading with a variety of financial instruments and high liquidity for traded pairs. Register on this crypto exchange to use all its benefits.

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