XRP Parabolic Breakdown

As for the 6th of April, XRP is going to throw a curveball. Since the last two days, it gained 45% in price, and a token costs more than a dollar for now. Of course, it’s nothing close to the record established in 2018, which was $3.67. However, we saw this pattern already.

So far, XRP stays in the top 5 most popular cryptocurrencies, even despite some problems the coin faced in the past. Users named it a turbulent one after the separation from parent company Ripple and the following lawsuit against it. This status stays actual.

Five days ago, Ripple’s CEO, Brad Garlinghouse, appeared in the CNN newscast and discussed some problems related to cryptocurrency, particularly the environmental impact of digital transactions. On the other hand, he mentioned that speculations remain a major issue on price movements as well.

  • In 2018, XRP owners experienced a significant drop in the price right after it reached the highest peak.

Now, the situation is even more complicated. As the juridical process still goes, its outcomes and consequences may vary from highly positive to completely opposite for a regular cryptocurrency owner.

Of course, the price rise of XRP is a good occasion to rejoice, but also it’s a vivid signal to be extremely cautious, especially for newbies in the market. The digital asset now is on the ledge, following with an unknown. We do recommend not to make impulsive decisions but do a thorough analysis of the current situation.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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