XRP, the third-largest cryptocurrency by market cap, is currently one of the worst performers among the top 10 largest cryptos. While the coin does have a market cap of $9.6 billion and a daily trading volume of $1.4 billion, its price is currently at the lowest point in 2019.
XRP has always been surrounded by a lot of negativity due to its close connection to its parent company, Ripple. In the past, the coin was accused of centralization, being a scam, being fake crypto, and more. In truth, the coin was simply created as the fuel that would power Ripple's payment products.
Ripple offered its products to the banks and financial institutions around the world, and it managed to partner with more than 300 of them in the last several years. However, XRP itself managed to grow to the position of third-largest crypto due to this connection with Ripple. But, its price is far from perfect, as we are about to see.
XRP entered 2019 with a price of $0.37. Of course, this is far from ideal for the coin, and significantly below its ATH, but it is a starting point for this year, which will show us how the coin performed further on.
XRP's bad performance started rather quickly, and after a week or two of stability, it dropped below $0.32, which became a major resistance level. From January 24th until May 12th, XRP struggled to breach this resistance, even succeeding on a few occasions, although only briefly.