Ripple, as the third crypto currency in the market capitalization, has been controversial lately and has recently suffered a third lawsuit alleging that XRP was sold as an unregistered security, which has affected ripple price to some extent.
From the ripple price chart history, we can see that the recent Ripple price has been declining, especially since the beginning of June has fallen 40%, the ripple price is currently close to the lowest price since December 2017, and fell nearly 90% from the record high.
In these controversies, Ripple is also striving to seek development and cooperation in an attempt to change the current situation. Ripple recently announced the formation of a venture capital firm, Xpring, which will “invest, incubate, acquire and fund recognized entrepreneurs and projects.” According to the site, they have “evaluated more than 100 companies and projects”.
In addition, Ripple also sees India as an emerging market for new users and has partnered with three Indian banks; Axis Bank, YES Bank and Kotak Mahindra Bank.
On July 13, according to ccn, Ripple’s vice president, Asheesh Birla, said at a recent financial summit that Ripple plans to win 50% of India’s financial market with low fees and efficient operating systems. A huge market may cost 2 billion XRP for public support. But if the market recovers, it is likely to reach $7 billion.
However, considering the actual operation, Ripple finally decided to cooperate with large Indian banks and actively seek other large banks to trade with India through Ripple’s network.
It is hard to say that whether these Ripple initiatives can really recover the market, but even if it takes effect, it will take some time, so in the short term, you may not see an exciting Ripple price chart history as you expected. So you should be cautious if you want to invest in Ripple now!