Just a few short months ago, XRP’s market cap meant that its position in the top three cryptocurrencies was secure. Unfortunately, a confluence of factors has plunged the altcoin’s standing into peril.
In the wake of the SEC’s lawsuit against Ripple, XRP tumbled from $0.50 to lows of just $0.20… with one analyst making the dire prediction that the embattled altcoin will be a “remnant of history” by the end of 2021. But if the headline-grabbing drama has affected Flare Networks, the project’s done a very good job of hiding it—with the start-up making a slew of announcements as it prepares for launch.
Bitcoin disappointed bulls on February 2 as a fresh attempt at flipping higher levels to support gained little momentum.
In the darkest corners of Crypto Twitter, on the r/WallStreetBets Reddit page, across a myriad of Telegram chats and in Discord messaging rooms, thousands of inexperienced investors were being sold a promise: buy at this time and riches will follow.
