R.I.P. XRP
Tim Knight | Dec 29, 2020 11:37AM ET
This is exactly the kind of out-of-the-blue event that scares me about the likes of crypto. I am referring to XRP, which is at 20 cents, a price represented by this price action:
Of course, even though the graph above does represent the present price of 20 cents, the chart is from the beginning of Ripple’s success (2017) instead of its demise (right about now). More recent price action, which brings it full circle to the 20-cent level, is like so:
This conceals the real meat of the story, of course, which is that $XRP lost about 97% of its value from its early 2018 peak, a time during which Ripple’s founder was, on paper, richer than Mark Zuckerberg. Rest easy that Zuck has secured is rightful place once more.
I just wonder if, in the future, some kind of government edict or action wouldn’t have the same effect on the likes of LTC, ETH or, heaven forbid, BTC. Let’s face it, Ripple was relatively big in the alt-coin scene, and all it took was one press release from the enfeebled SEC to torpedo XRP.
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