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Ripple course: XRP collapses after intermediate high

Ripple currency XRP. (Image: Ripple.com)

The strong support of various online communities drove the price of the crypto currency Ripple / XRP to a new intermediate high on Monday. But then there was a heavy slump.

Within the past few days, the rate of Ripple / XRP, which at the end of December after a lawsuit by the US Securities and Exchange Commission collapsed, literally exploded. On Friday, Ripple Labs submitted a detailed response to the SEC allegations. Previously, users of the Reddit forum Satoshistreetbets had already called to buy Ripple. The campaign was supported by some Telegram groups, some of which had tens of thousands of users, and via Twitter – initially with great success. But then another crash followed.

Ripple / XRP: all-time high in the far distance

By the weekend, according to Coinmarketcap, the Ripple price had already exploded from 0.2455 US dollars to 0.4997 dollars. On Monday lunchtime, the XRP token went up to almost $ 0.75. This increased the rate by 160 percent within a week. At the same time, this meant a new intermediate high for Ripple / XRP. Since spring 2018, the cryptocurrency has not been worth as much as it is now. From the all-time high reached at the beginning of January 2018, which Coinmarketcap states at 3.84 dollars, XRP is still a long way off.

The cryptocurrency has not come any closer to this goal in the past few hours. On the contrary: The course went downhill rapidly on Monday afternoon. Within a few hours, Ripple / XRP lost about half of its value. On Monday evening, the price of the cryptocurrency was trading at around $ 0.38. XRP is still worth significantly more than at the beginning of the rally. In the middle of last week the token was under $ 0.25.

Also Dogecoin after price explosion with slump

The fun currency Dogecoin also suffered a slump. Before that, the price of Dogecoin / Doge had also been driven to an intermediate high. On Friday, the cryptocurrency, which is also supported by Tesla boss Elon Musk, was suddenly worth $ 0.08 – more than ten times as much as it was the day before. The trigger for this is likely to be, among other things, tweets from the Twitter user WSB Chairman, apparently one of the unofficial bosses of the Reddit forum Wallstreetbets, with around 300,000 followers. Wallstreetbets is causing a stir with its exchange of blows with hedge funds for the Gamestop share. Dogecoin / Doge was still worth $ 0.036 on Monday evening.

Also interesting: Story about Gamestop rebels comes to the cinema – Hollywood filmed Wallstreetbets

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