We analyze the situation of Ripple, one of the cryptocurrencies that has managed to dethrone Ethereum for a short period of time and the one that has suffered the greatest value adjustment, after reaching its historical maximum.

Ripple has entered 2018 through the big door, reaching its historical maximum of $ 3.8 on January 4, since that moment its value has fallen and especially it has fallen in the last hours, along with the value of Bitcoin. All cryptocurrencies on the market depend directly on Bitcoin, since it is one of the values ​​together with Tether (a cryptocurrency that performs the functions of the dollar in the market), they are the two tokens that establish the value of a cryptocurrency. If BTC falls, everything falls, because Tether depends on the value of the US dollar.

Before the brutal rally that has taken it beyond $ 3.8, XRP had a value of $ 0.2, something that means multiplying its value by nineteen in just one month. This has been possible thanks to the fact that banks in South Korea and Japan have been operating in beta phase with cross-border capital transfers, the entry of Master Card or MoneyGram to the XRP association, among others. Chris Larsen, thanks to this he has become the eighth richest person in the world.

The other side of this strong rise is that a strong rise usually entails a strong readjustment in the value of a cryptocurrency, precipitated by the sharp fall in value of Bitcoin. We should not lose our minds either, since it is usually normal that during the third week of the year, there is a strong adjustment of this cryptocurrency.

A few hours ago, in many exchanges, XRP was below $ 1 in valuation, which is the first time it has dropped below the value of $ 1, after it crossed this threshold for the first time at the end of the month of December. In general terms, yesterday it lost 24% of its value and 74% of its total value since it marked the all-time high. Right now there are 38.300 billion XRP in circulation.

It should be noted that the great part of the world volume is concentrated in the exchange houses of South Korea, registering more than 50% of the operations in this country. It should be noted that South Korea is also known for a phenomenon called 'kimchi premium', which is a value of cryptocurrencies above the rest of the market, which is mainly reflected in Ethereum, Bitcoin and Bitcoin Cash.

The market has gone from more than 830.000 million dollars of capitalization, reached on January 7, to 450.000 million in which it oscillates in these, which represents a reduction of 48% in valuation. This has caught many off guard, but it is not the first time it has happened. Many are the first time they see themselves in this situation and are torn between waiting or performing a 'HODL', something that could solve a temporary problem and could allow them a long-term recovery and short-term gains.