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Breaking News / Cryptocoins

Why Is The Price Of Ripple Falling?

Ripple has not had a good start to the week, and was down 7.5 percent, without any obvious signs of recovery. This is the fourth consecutive week that cryptocurrencies have been in the red, but what is more worrying is that there is not anything obvious in the pipeline that will bring it into the black.

The big question is though, why is Ripple falling in price; with the question on everyone’s lips that the bubble is about to burst. One problem that keeps being brought to the forefront of everyone’s attention is the promise of stricter regulations from the Securities and Exchange Commission, due to the increased threat of more widespread hacks. On top of this, a Japanese Bitcoin investor, known only as ‘Tokyo Whale’ reaped panic on investors with a shocking crypto-firesale.

Ripple also suffered like many other cryptocurrencies, when Twitter released a statement informing investors that they would be following in the footsteps of Facebook and Google, and would be putting a ban on all advertisements that relate to Initial Coin Offerings.

Ripple has been among the top three cryptocurrencies for some time now, so only time will tell whether this cryptocurrency will start to pick up again before long.

Featured Image Source: Pxhere
 

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Frances is a writer for Crypto Daily, and she is responsible for bringing you the latest news on everything that is related to the Crypto world. She has a keen interest in Cryptocurrencies, and has many years of experience writing in all different roles. She is incredibly passionate about writing, and this combined with her interest into the finance, and virtual currency sector means that you are kept up to date with all of the latest news and information regarding all cryptocurrencies.