XRP: A Year in Review

It’s been a huge year for Ripple and XRP, many see 2018 as a good year for the company, whilst others will want to forget most of what has happened this year. For investors, XRP itself hasn’t been the kindest of cryptocurrencies as a result of it embarking on quite a journey. XRP started the year off known as Ripple, but through a rebrand involving Snoop Dogg, a whole new XRP brand was born. Through this journey, XRP has hit peaks and troughs through both value and market cap. It’s been one hell of a journey, so, sit back and relax as we take you through our year in review for XRP.

January

XRP peaked as a result of the cryptocurrency boom that took many cryptocurrencies to the next level at the start of 2018. As a result of this, the all time high for XRP still dates back to January, when XRP hit a value of $3.83. Like with many cryptocurrencies though, this peak seemed to be quite short lived, as heavy correction moved in, taking XRP down to $2.62 by the 8th of January 2018. This bull run marked a very inspiring time for cryptocurrencies and truly helped bring crypto to the mainstream. It is during this boom that a lot of investors made a lot of money. We must however consider that likewise, this time also encouraged lots of new investors to buy, bumping up the market cap of XRP whilst leaving lots of late buyers, eventually out of pocket.

March

By March, XRP really had levelled back out, starting the month short of $1.00 and embarking on a decline that sadly, XRP didn’t really recover from through the rest of the year. It was around March that a number of the late investors had decided that maybe they made a mistake, investing during the 2017 cryptocurrency boom. During March, XRP halved and stooped as low as $0.50.

April

As you most probably remember, April did bring a glimmer of hope to the markets during what promised to be a second coming for cryptocurrencies. Bitcoin started to climb back up to $10,000.00 and a very fresh faced XRP followed suit too, hitting a monthly high of $0.94, though sadly this achievement failed to be matched during the rest of the year. April still remained a very positive month for XRP as a result of some very big institutional movements from Ripple, the company responsible for the production and distribution of XRP. International banking giants, Santander, announced the launch of OnePayFX, a new smartphone app that has been designed to facilitate international and cross border transactions, using Ripples technologies. This was one of the first major use cases of Ripple’s technologies on a mainstream institutional level and was met by the community with a great deal of excitement.

Still, through 2018, Santander failed to adopt XRP, something that many investors hoped the launch of OnePayFX could eventually lead too.

May, June, July

It is during the months of May, June and July that the name of XRP started to appear in the headlines, for a number of reasons too. During May, XRP peaked at $0.94 and started to move back towards the $1.00 target investors painfully hoped for. As we know now, XRP never managed to move back past this threshold, though positivity still remained during the following months as XRP fluctuated around $0.60.

June seemed to see a bit of a snowball effect take hold within XRP, as Ripple were taken to court once again as a result of Ripple being suspected for their involvement in securities fraud. Long story short, 2018 brought with it heavy allegations against Ripple on the premise that they had been trading an unregistered security. This was a hot topic through the spring months, though as the summer came, nothing really came of it, other than the fact the reputation of Ripple had been damaged by these lawsuits. Still to the day, many investors now seem uncertain about the true status of XRP.

In an attempt to distance themselves from the ‘problem’ cryptocurrency, Ripple totally rebranded XRP, as… well, XRP. As we have stated earlier, prior to the rebrand, XRP was more commonly known as just ‘Ripple’. The rebrand came through a trendy conference which even saw Snoop Dogg perform to the Ripple community. Whilst the rebrand didn’t pull XRP back up to $3.00, nor did it allow XRP to see a listing on Coinbase, it did offer us all further clarification on the true status of XRP, a token that Ripple are very serious about.

September

After a quiet summer, filled with speculation surrounding XRP eventually seeing a listing on Coinbase (obviously, this didn’t happen), the next big turn in the story of XRP through 2018 came with the commercial launch of xRapid, one of the Ripple products that does actively encourage the use of the XRP token. During September, Ripple announced that xRapid would go live for commercial use sometime in October, the announcement resulted in a huge spike in the value of XRP, shooting the cryptocurrency up from $0.27 up to an eventual peak of $0.61. The spike was short lived, however it was just enough to pull XRP out of the downward trend it had experienced through the summer, which saw a quarterly low of $0.263 reached during August. The launch of xRapid eventually allowed XRP to reach a new base price of $0.45, which continued through October and November, prior to the November crash, which eventually resulted in yet another big down turn for XRP.

2018 has been a very big year for XRP. Whilst the value of XRP could have been stronger through the year and whilst the community could have no doubt expected more positive news from their beloved cryptocurrency, things could also have been much worse. As a result of positivity behind the XRP project, during November XRP managed to surpass Ethereum and reign tall as the second biggest cryptocurrency in the world. 2019 brings with it some great positivity for XRP and many of the Ripple projects.

By using XRP, Ripple want to change the way we all make cross border payments. This has huge implications for private investors and institutions alike and therefore, we don’t expect Ripple to sleep in 2019. As a matter of fact, 2019 could be the biggest year yet for XRP, and those involved in it.

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