Ripple dramatically falls after a huge growth of price and market cap

The cryptocurrency called Ripple has demonstrated a very good growth during the last days of 2017. Since then, during the first 10 days of the year 2018, Ripple is losing in price, showing the strong bearish trend on Coinmarketcap. As demonstrated by the statistics and graphics on this website dedicated to the capitalization of cryptocurrencies, it fell down -28.38% from 7 January to 8 January.

Possible reason might lie in the fact that the initial growth was caused by an indirect factor: bankers in Asia became interested not in the coin itself, but in the XRP payment system the same developers provide. The market, it seems, has deduced that even though the reputation of this cryptocurrency had grown, it does not necessarily mean all banks interested in the XRP blockchain would be interested in this altcoin as well.

The current position of Ripple in the Top Three of cryptocurrencies by Coinmarketcap has reverted to its stage first seen on December 28, 2017. Meanwhile, Bitcoin has not fallen beyond $10,000 and is worth almost $17,000. This means that this cryptocurrency had stabilized on the level between 15,000 and 19,000, and possible predictions on what happens next may vary greatly.