Ripple prices spiraled downward last week, striking fear into the heart of many investors. But the fear left as quickly as it came, leaving newbie crypto investors short of breath.
How can a currency lose 25% in value and then make it back in less than a week?
This is just how fast cryptos move, dear reader.
To many newcomers, investing in cryptocurrencies is like walking on Mars.
Everything is different, from the atmosphere to gravity to plant life (or lack thereof). The language is especially foreign—terms like “hodl” and “PoS” are simply awkward on the tongue and ears.
“FUD” is another one. It is shorthand for “Fear, Uncertainty, and Doubt.”
We’ve all seen it before. An article pops up in your news feed. It carries a warning: “Crypto Crash Coming in January” or something similar. Two more pop up the next day, screaming the same thing. You start to worry.
Is there a bubble? Am I the last guy off a sinking ship?
Prices start to fall—soon top cryptos are down five percent or 10%. Don’t panic, you tell yourself. But then the bloodbath begins in earnest, with losses stretching to 20% or 25%. You sell.
Ripple Price Chart:
It’s not your fault. Fear, Uncertainty, and Doubt got the better of you. FUD gets us all.
But what happened afterward? Crypto prices recovered across the board. XRP shot back up above $1.00, eventually reaching $1.29 at the time of writing.
This puts the XRP to USD exchange rate approximately 14% higher than it was 24 hours ago.
Analyst Take:
We are unmoved by recent volatility. It is a movie we have seen time and time again, which is why we maintain our $2.00 Ripple price prediction for 2018.
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