Ripple v Bitcoin chart: How is XRP performing compared to BTC?

Ripple v Bitcoin chart: How is XRP performing compared to BTC?

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Ripple’s XRP digital currency has increased in value by more than 31,000 percent compared to this time last year, graphs from CoinRanking show. 

At the start of 2017 Ripple was trading at about $0.006 per token. Today XRP goes for just over £1.48 ($2), according to CoinMarketCap. 

(BTC), the biggest and best-known cryptocurrency on the market grew slower than Ripple in the same timeframe (1,762 percent), though it is worth considerably more. 

A single bitcoin is now worth more than £10,000 ($14,600), compared to about £580 ($785) on January 10, 2017.

However, both digital currencies have suffered huge losses in the past month. 

After, jumping from around $0.245 to $3.84 between December 12 and January 4, Ripple has collapsed back down to little over $2 in the past week. 

officials blame their currency’s shocking dip on CoinMarketCap’s decision to remove South Korean exchanges from its data. 

Graphs show a sharp decline in XRP shortly after the decision was made, followed by a slight upturn when the market tracking company made the news public. 

Read more:

Ripple price graphCOINRANKING.COM

Ripple price chart: XRP has skyrocketed in the past year

Bitcoin price graphCOINMARKETCAP

Bitcoin price chart: BTC has increased by more than 1,700 percent over the past 12 months

Ripple’s chief cryptographer David Schwartz criticised the decision on Twitter, accusing CoinMarketCap of “triggering panic selling”. 


Its price initially spiked because sentiment was high

Joe DiPasquale on Ripple (XRP)


He tweeted: “CoinMarketCap’s decision to exclude Korean prices from the displayed XRP price made the price appear to drop, likely triggering some panic selling.”

But Joe DiPasquale, CEO of BitBull Capital, has argued that Ripple crashed because it was “overvalued”. 

He told Forbes: “Its price initially spiked because sentiment was high; there were rumours of additional deals with big banks and its token, XRP, being listed on Coinbase.”

Ripple price chartCOINMARKETCAP

Ripple price chart: Ripple plummeted in value last week

“When those didn’t materialise, sentiment turned, and investors started dumping after it hit $3.”

Meanwhile, bitcoin experienced rapid depreciation at the end of last month, falling around 35 percent in just five days, according to CoinMarketCap. 

Graphs show bitcoin sitting pretty at nearly £14,800 ($20,000) on December 12, before its price tumbled to less than £10,000 ($13,000) by December 22. 

In that time, BTC’s market cap plunged from more than £244billion ($330billion) to about £159billion ($215billion).

Ripple vs Bitcoin graphGETTY

Ripple vs Bitcoin: XRP and BTC have both soared over the past year

Neil Wilson, senior market analyst at ETX Capital, said that the sudden crash was probably due to investors selling up before the end of the year. 

Speaking in December, he said: “Whilst there have been some hacks, public infighting in the mining community, lots of rumoured forks and regulatory pressure building on some fronts, this is likely to be a simple bout of risk-off selling as investors rebalance towards year-end.”

Mr Wilson added that bitcoin was likely to bounce back from the setback. 

Since New Year, bitcoin’s value has lurched from about £10,000 ($13,400) on the dollar, up to more than £13,000 ($17,600) on January 5, before sliding back to less than £11,000 ($15,000) today.

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