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Ripple [XRP] succumbs to the bearish market pressure – Declines by 11% over the week

As the team has been clarifying from a long time about the distinction between Ripple and XRP both being independent of each other, Ripple, the company, has been doing great throughout the quarter while XRP, the digital asset, has had a very rough ride since the beginning of Q1.

The market is displaying signs of turning bullish again with handful coins being able to retain their values and positions going against the downtrend, XRP is favoring the downfall and has been declining over the week by an overall fall of 9.55%.

Anjali, a Twitterati said:“I am repenting to invest in ripple. Price always down. Ripple has lots of promotion than other coin but still .80 cents. Has number 3 rank but even could not go 10 USD. When BTC increase then its price increase. Depends on BTC price.”

Currently, XRP is trading at $0.83 with a further decline of 2.5% since yesterday. As the speculators were excited during mid-April, they saw XRP climbing the stairs towards $1 mark, it didn’t stand long. It has been fluctuating with its prices between $0.7-$0.9 zone all month long.

The market cap at $32 billion has kept its 3rd position intact.

Ravi Maheshwari, an XRP enthusiast tweeted:“XRP is fast and transaction costs are dead cheap, large supply and a small price per coin, then why not used as a currency?”

The team has arranged a Blockchain week get-together for the entire community which will be entertained by the world-famous rapper, Snoop Dogg. Brad Garlinghouse, the CEO mentioned this earlier during an interview with Cory Johnson, the Chief Marketing Strategist at Ripple saying this is organized as a celebration, a party for the community to enjoy and share the success of a wonderful quarter that Ripple has experienced so far.

He also stated that:

“Ripple has had one of the best quarters in the history.”

As a part of this huge meet-up event, Ripple’s team has been conducting various quizzes and contests through which they will pick winners from the plain audience who will be rewarded with free tickets for the event. Such a gesture has excited and lightened the mood of all its supporters.

Linda, one of the participants tweeted:

“I want to go this so bad. Thank you, team, for sponsoring such a cool giveaway. Really appreciate it, very cool. Rock it in the event, I am sure u all will.”

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