Ripple settles higher on limited short-covering

Ripple tilted higher on Monday off December 17 lows on limited short-covering after declining for three weeks in a row, and after a 4% tumble yesterday, while still holding onto second place in the ladder of world's largest cryptocurrencies. 

As of 06:57 GMT, Ripple 0.34% to $0.32239, with an intraday high at 0.32710, and a low at $0.31726, with Ripple's market value amounting to $13.13 billion. 

Ripple marked a 15% loss last week after the Ethereum Classic's network suffered a $1 million security breach. 

Ripple CEO Brad Garlinghouse, whose company owns over 60% of XPR codes, said 200 banks around the workd are using XPR for cross-border payment transfers. while expecting an increased usage in the current first quarter of 2019.

Bloomberg recently reported that an ECB member warned that the crypto bubble is starting to already burst. 

Ardo Hansson, governor of Estonia's central bank warned that cryptocurrency are heading to an end, with the world currently witenssing "the collapse" according to him.

It's worth mentioning that Ripple was first launched on March 7, 2015, to start trading at $0.015, with the virtual currency losing nearly two thirds of its value by early 2016 to $0.0059, before rising 5% during 2016 to $0.0063, and then skyrocketing 28,000% to $1.748 by the end of 2017, before marking unprecedented highs in January at $3.30, then losing up to 90% of value on a violent selloff wave that stormed crypto assets this year. 

Ripple then reversed nearly 80% higher in only a few days in September on positive news for the cryptocurrency and its standing between major financial institutions.