Ripple News Update
Volatility is a normal feature of capital markets, but trapeze-like swings in XRP prices are enough to terrify even the toughest investors. The only solution is to keep an eye on the long-term trends driving XRP adoption.
That said, it can’t have been easy for investors to see Ripple prices fall 7.8% in the last 24 hours. The XRP to USD exchange rate dropped below $1.00 for the first time in over a week, bringing the rate to $0.987.
Ripple (XRP) Price Chart
To help cope with this tension, I’ve drawn up a brief list of important Ripple news that might have slipped under your radar.
- Ripple releases important research on XRP. Criticisms abound when it comes to Ripple’s relationship with XRP. The company hopes to put those rumors to rest with two new academic papers, one of which has a mathematical proof of the company’s technology. (Remember that more confidence often equals higher prices.)
- Ripple beefs up security plans. The second academic paper teased out Ripple’s long-term defense strategy. According to their data, only state actors pose a threat at the moment, but they want to eliminate even that possibility by improving the quality of the network. Once again, this could improve technical confidence in XRP.
- JPMorgan thinks Ripple can threaten SWIFT. Taking down the leader in cross-border payments is Ripple’s stated goal, and now an unlikely party thinks it has a chance to make that happen. In a recent report from JPMorgan Chase & Co. (NYSE:JPM), two analysts note that “…Ripple’s creation has the potential to create competitive disruption for an existing service (Cross border payments between banks via SWIFT)…” (Source: “Decrypting Cryptocurrencies: Technology, Applications and Challenges,” J.P. Morgan Perspectives, February 9, 2018.)
There are, of course, many more tailwinds for XRP prices, but I’ve covered them in previous Ripple news updates.
The current slump in XRP prices is both unexpected and a little disappointing. However, I try not to let emotions cloud my reasoning. Nothing of consequence has changed in our valuation of XRP prices. Therefore, we will not adjust our $10.00 Ripple price prediction for 2018.