A quick glance at Ripple’s monthly chart shows how the cryptocurrency’s price evolved over the years. XRP became available for trading in October 2014, with a starting price of around 0.004545.
Just two months later, in December 2014, it had already jumped up to nearly three cents, offering initial investors massive gains.
Other notable Ripple price changes in U.S. dollars throughout the years include:
The highs and lows listed here are relative to the time prior. It’s also worth noting that there are many other price movements during these years, with some months experiencing extreme highs and lows in the same 30-day period.
An example of this is April 2021, where XRP’s highest price was $1.964997 and its lowest price was 0.559002.
Let’s explore some of the most notable reasons for Ripple’s gains and losses throughout the years.
Ripple’s highest price was at $3.841940 in January 2018. It didn’t quite go from lows to highs overnight, but it did happen quickly—in October 2017, Ripple’s high was a mere 0.301084. One month later, it had reached a monthly high of $2.854530.
Needless to say, Ripple reaching its all-time high wasn’t unique to this coin. Instead, nearly the entire cryptocurrency market experienced a boom in late 2017 and early 2018. So, it was following the trend.
The reason for this massive jump in the crypto industry was increased interest in the digital currency space. Many new investors came on board, from individuals learning about Ripple and other cryptocurrencies around the Thanksgiving table to large-scale institutions.
Nevertheless, reports indicate that price manipulation played a role in the cryptocurrency’s unprecedented upward trajectory in 2017 and the beginning of 2018.
In June 2019, Ripple managed to recover some of its losses since its all-time high. It reached a price as high as 0.505467 thanks to increased interest in the project from Japan and South Korea.
These countries decided to launch a test on how effective Ripple’s network is, hoping it could reduce the time and money it would take to transfer money across borders between their two banks.
The response from XRP enthusiasts was massive, with Ripple gaining around 7,500% from the start of the year to its 2019 yearly all-time high.
In November 2020, Ripple saw another jump to the upside, enjoying a 165% gain in one month alone. Although this was a period when Bitcoin and other cryptocurrencies were also thriving, Ripple’s extra impressive increase was likely due to the promised Spark token airdrop.
Another reason that experts theorize why Ripple gained so much during this period is because cryptocurrency was experiencing another wave of new investors. Many were likely unaware of the possibility of purchasing a fraction of a Bitcoin. So, Ripple’s under $1 price tag may have made it a more attractive asset to own.
Finally, Ripple’s most recent price increase in April 2021 was the result of it settling a dispute with the Securities and Exchange Commission (SEC). Shortly after, the company announced that it wants to go public on the stock market. The news brought massive gains to XRP holders, with the coin reaching nearly $2.
Ripple’s most notable issue during its existence is running into trouble with the SEC. The SEC filed its lawsuit against Ripple in December 2020, plummeting XRP’s price from the mid-70 cents to the mid-teens—a place that it had dropped down to one year prior.
Ripple’s argument with the lawsuit was that the SEC hadn’t made clear guidelines on the legalities of cryptocurrency in the U.S. market space. As a result, the SEC issued what some people called an unfair label as XRP being an unregistered security.
But we’re getting ahead of ourselves here. Backing up to 2018, Ripple experienced a major price crash. It went from its all-time high of nearly $4 in January to hovering below 60 cents in February.
Traders felt the “ripple” effect of this downward swing across the cryptocurrency market. Experts knew such an event was inevitable. As the saying goes, “What goes up must come down.”
While analysts compared the 2017 cryptocurrency market to the dot com bubble, people fed into the fear, selling their XRP coins in masses. While Ripple had some price fluctuations to the upside, it didn’t come close to its all-time high, and by August 2018 the coin was trading at around 25 cents.
In December 2019, Ripple experienced another painful drop, landing below 18 cents. The move correlated with a drop in Ripple’s sales—it went from $251.1 million in the second quarter to $13.08 million in the fourth quarter of 2019.
In December 2021, Ripple experienced another notable drop. However, it had increased before then, so its sub 62 cent price tag didn’t feel as painful for investors who had bought on the dip. Furthermore, this was a period when cryptocurrency prices were down across the board.
Many people with long crypto trades open became liquidated, creating a downward cascading effect in the market. Furthermore, short positions increased, with people betting on making money from Ripple’s price dropping further.
Despite XRP’s significant price drop in December 2021, many market analysts chalked it up to routine volatility in the crypto market.