The value of the combined cryptocurrency market has surged to over one trillion as prices rise across the board. The surge more than $1 trillion comes as smaller cryptocurrencies, including ethereum, Ripple‘s XRP, cardano and stellar, all make significant gains.
About Ripple (XRP)
Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company. Released in 2012, Ripple is built upon a distributed open source protocol, and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or even mobile minutes.
You will find a few things though that affect the price tag of XRP , for instance liquidity, intraday volume, and whether it’s bought or sold during the week. All of these factors are going to affect the price tag you can expect to earn from trading in XRP.
Ripple In the News
The Ripple news now aggregators are actually overflowing with stories as of late. Ripple is entwined with government and central banks central banks, global economics, stock markets, international trade and commodity prices , government spending, and inflation.
Ripple’s objectives and its very own financial reality have compelled it to actively seek to offer and sell XRP as widely as possible, while controlling supply and demand in the resale market to manage and control liquidity for an imagined, future “use” case.
Ripple tried to settle charges of conducting unregistered securities transactions with the U.S. Securities and Exchange Commission (SEC) before the federal regulator sued it in December, CEO Brad Garlinghouse said Wednesday. In a Twitter thread, Garlinghouse addressed what he described as five “key questions” about the SEC’s suit against Ripple, even thought he warned that he was limited in what he could say as the case is actually ongoing.
At the end of 2020, Ripple hit back at the SEC, accusing the agency of creating more uncertainty as a result of the “dangerous lack of regulatory clarity for crypto in the U.S.” The company blasted the lawsuit, saying it affected “countless innocent XRP retail holders with no connection to Ripple.”
Nonetheless, some cryptocurrencies don’t have strong fundamentals and therefore need further support to survive. Also some national currencies including those from emerging economies like the Mexico and Peru, which are actually experiencing weak demand from wealthy investors. The governments in these countries are attempting to support the currencies by creating exchanges or even futures markets to provide liquidity and allow for secure trading.
Given Ripple’s prominent business relationships and XRP’s market capitalization, the SEC’s case could have far-reaching implications. A flurry of moves by players in the crypto ecosystem since last week is indicative of the case’s seriousness. Buyer – and investor – beware.