Ripple Dips 15% Amidst The Falling Cryptocurrency Market

Aug 8, 2018 at 13:33 Update Date :Feb 27, 2019 at 07:46 UTC

Cryptocurrencies across the board such as Bitcoin, Bitcoin cash, Ethereum, Litecoin, and Ripple have all registered a downfall in their prices by 5% to 15% over the past 24 hours.

The price of cryptocurrencies is influenced by a number of factors including factors as random as sentiment and news flow among others so nothing can be said about the reason behind the price falls today. Although Ripple can be seen registering a mild hike of just 0.351 U.S. dollars towards the end today.

The cryptocurrencies don’t generate any cash flows to owners and hence cannot be valued using the conventional methods. Hence the valuation of any cryptocurrency is one factor which doesn’t much affect the price of cryptocurrencies.

Although, some cryptocurrencies can, to a restricted extent, be utilised to trade in for goods and services, which gives them a relative value but, the crypto giants argue over the fact that their finite amount gives them an edge over the traditional currency which is susceptible to corrosion due to inflation.

Given the issues currently faced by the cryptocurrencies, it is evident that tarring in crypto-assets is not for the faint-hearted or serious investors. Although, it’s wild and ever-growing popularity is indicative of the fact that prices of digital currencies move higher over time.

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