With the total market cap of all cryptocurrencies now exceeding $1 trillion, Ripple‘s price is also rising as it recovers from a Christmas week crash.
About Ripple (XRP)
RippleX makes it simple for developers and entrepreneurs to remove the pain and friction that comes with integrating blockchain technologies into the applications of theirs. Through tools, services and programs built on the XRP Ledger, RippleX enables developers and their users to send and receive payments across any currency, geography and network.
The price of Ripple’s XRP has been on a roller coaster over the last month after a late November surge was wiped out by a lawsuit brought by the U.S. Security and Exchange Commission against Ripple, casting doubt over XRP’s future.
Ripple In the News
Furthermore, many helpful articles on Ripple news today events and undertakings can be found in the news section too. The latest price quotes for many other cryptocurrencies can also be found here.
year which is Last, a number of high-profile investors, led by the famed Paul Tudor Jones, began to name bitcoin as an emerging inflation hedge, using to it protect against what they see as the damage being done to the stability of the dollar by unprecedented government spending and money printing. This support helped institutional investors and Wall Street giants soften their sceptical view of cryptocurrencies and bitcoin.
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, however, he warned that he was limited in what he could say as the situation is ongoing.
At the end of 2020, Ripple hit back at the SEC, accusing the agency of creating more uncertainty because 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 do not have strong fundamentals and therefore need extra 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 futures markets to provide liquidity and allow for secure trading.
While the bull market in cryptocurrencies will go on to exist, Ripple market participants must be very careful to look beyond the short term price predictions and consider the long term potential of the currencies involved.