You run, you can hide, but you can’t escape the crypto community talking about XRP[1]. The coin has been through varied phases of stagnation, drops, and even pronounced dead or a zombie coin, but all those tags seemed to disappear as it has been noting a boost of 89.94% in the past 24-hours. However, in the past few hours the coin did face a minor correction and was trading at $0.679.
Source: XRP/USD[2] on TradingView
This escalation in price can be seen in the chart above.
XRP and its phases
Source: XRP/USD[3] on TradingView
The above chart highlighted different phases of XRP price since the 2017-2018 bull run. The XRP price had peaked at $3.54 in January 2018, after which it had been slipping, reporting new lows consistently since.
In March 2020, when the coin hit another low, the market had lost all hope from the price re-visiting its 2018 high. There were vast speculations of XRP’s price being controlled and dumping of the asset to keep its price low. The market was speculating that Ripple was dumping XRP on the market, however, Brad Garlignhouse, the CEO of Ripple had clarified[4] that:
“Yes, Ripple owns a lot of XRP, we’re very interested in the success of XRP, but the accusations of us dumping, that’s not in our best interests to do that […]. We would never do that and in fact, we’ve taken steps to lock up most of the XRP we own in escrows so we can’t touch it.”
While this did not stop the speculations, many members of the community remained optimistic about its future and focused on the development aspect. Similarly, Ripple has over time collaborated with developers like Wietse Wind and given a platform
