2017’s Top Cryptocurrency Poised to End 2019 As The Worst Performer
The third-largest cryptocurrency is soon going to end 2019 as one of the top worst cryptocurrencies of the year.
But it is now down 95% from its all-time high of $3.92.
XRP has lost 40.61% against USD YTD and the situation is even worse in the BTC market where it is down 68.6% this year.
Currently, XRP/USD is trading at $0.213 with 24 hours loss of 2.47% as per Coincodex. From 2019’s high of $0.483 in June, XRP found ground at $0.25 level in September. But soon after, the next month, the digital asset started sliding down yet again. On Nov. 25, XRP fell to $0.217, a level was last seen in December 2017 during the bull run.
XRP’s Green Quarters Outstrips the Dominating Red Quarters
If we take a look at the historical performance of Chris Larsen and Jed McCaleb’s creation, it’s dominated by red.
The digital asset has traded for a total of 21 quarters, and out of this, it had 11 negative quarters and 10 positive quarters, noted crypto trader Josh Olszewicz.
However, while these negative quarters averaged at 32%, positive quarters averaged at a whopping 276%.
Just like in 2016, in 2017 XRP experienced a green year except for one red quarter but during this bull run, the profits recorded by the digital asset have been unprecedented at 900% and 1059%.
Since last year, however, XRP has been only losing by registering six out of eight quarters in negative. The two positive quarters meanwhile recorded less than 30% gains.
But the Market is Hopeful
The much anticipated annual Swell Conference that has been expected to lead to another rally didn’t materialize either. But the XRP community remains optimistic as ever about the coin’s future.
In the meantime, Ripple, the company behind the digital asset keeps on adding new partners to its expanding 300+ members’ list and more corridors with the likes of MoneyGram and Banco Santander.
But there are high chances that XRP would, in fact, end the year at a red note though commentators are calling out for a breakout in the digital asset in the near future.
— K A L E O (@CryptoKaleo) November 30, 2019
As we reported, analyst Magic Poop Cannon, who predicted XRP’s fall to $0.03 also said that he could be wrong because of the similarities between its current price chart and from late 2016 and early 2017 that says, XRP “maybe just at the point of launch.”