The Ripple (XRP) market price has turned downward again, sliding to $0.92 on a general market downturn. Despite updates which could be seen as positive, the XRP market price may be moving according to its own speculative logic, and to be largely affected by automated bot trading.

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XRP slid a net 13.4% this week, losing around 5% just in the past 24 hours and sliding toward $0.90. Even in trading against the Korean Won, XRP reveals weaknesses, but the downturn against Bitcoin is also significant.


Some believe that after the downturn from the December peak, XRP has no chance on rising significantly just based on news of developments and potential use cases. While the wider public has appreciated XRP, many are left discontent as they bought at peak prices, expecting the asset to rise as far as $5.

In a recent case of niche adoption, the Mexican payment system Cuallix stated it was using XRP for international money transfers to the USA. However, there has been no indication that Ripple could displace the SWIFT banking payment system any time soon, beyond performing tests.

But Ripple is in no way a complete solution that could be unrolled soon. In fact, its network and ledger are a work in progress. One of the most promising services, xRapid, is still in beta.

"It has only been a few months since the first working version. When you're handling real money and rapid payments for enterprise customers, the reliability bar is very high. There are a lot of possible exceptional cases and you have to make sure they're handled correctly. There is very little margin for error," said the chief Ripple cryptographer David Schwarz in a recent AMA on Reddit.

In the past two months, the market lived through one big bout of hype about Ripple, and now skepticism is more widespread. However, expectations of minor or larger price rises, including automated bot-fueled pumps, are not out of the question. And while a rising price on paper may make XRP look attractive, in reality the time of easy price growth may have passed, and losses may be easy to accrue as XRP wipes out value within hours.