Ripple, has struggled to support any momentum from its slight increase in value on July 18, while the other major cryptocurrencies have managed to maintain at least their levels of support.
Since July 19, the price of XRP has been in freefall, going from $ 0.52 to $ 0.46, more than 11.5%. After registering a large sell-off in the major stock exchanges less than 48 hours ago, XRP was unable to demonstrate signs of short-term recovery.
The short-term trend of XRP will probably remain negative in the coming days, as the July 19 sell-off was not sufficient to reverse the Relative Strength Index (RSI) of XRP and create an oversold condition for the Ripple market.
Ripple uses a hash tree (a persistent data structure that can be used to implement sets and maps) to group data at your fingertips into a single value. This is then compared between the validation servers to provide consent.
In theory, Ripple can be used by everyone, although it has been designed to be used by companies in a B2B capacity. Thus, person-to-person use is not its main goal.
According to some opinions, XRP may soon overshadow the other major competing cryptocurrencies, with concern over its centralization that would potentially exclude XRP from entering a regulatory framework that would affect the rise in prices of other digital currencies.
According to experts, in the long term XRP will simply become a digital asset owned by institutional investors, its level of centralization does not seem to be appreciated by users who instead prefer decentralized cryptocurrencies like Bitcoin and Ethereum, which by definition are not controlled by a central entity.
In addition, Ripple Labs, the company run by its CEO Brad Garlinghouse according to the latest news, seems to be in trouble right now after receiving the third court summons within three months.
According to these events it seems that users are preferring to invest in bitcoins to get rid of XRP that from its maximum of 3.40 dollars registered in early January has no longer managed to recover value.