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)
Ripple is actually a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., an 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 perhaps mobile minutes.
You will discover a few things though that affect the cost of XRP , for instance liquidity, intraday volume, and whether it is bought or sold during the week. Each one of these factors will affect the cost you are able to expect to make from trading in XRP.
Ripple In the News
Several of probably the latest Ripple coin news items of interest include unemployment figures, housing starts, new home sales, auto dealer reports, and mortgage applications.
Ripple’s objectives and its own financial reality have compelled it to actively seek to offer and sell XRP as widely as possible, while controlling demand and supply in the resale market to manage and control liquidity for an imagined, future “use” case.
Ripple has publicly decried the SEC charges and has an initial hearing scheduled for later next month.
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 that it affected “countless innocent XRP retail holders with no connection to Ripple.”
The SEC is taking the stance that Ripple engaged in this illegal securities offering from 2013 to the present, even though Ripple received legal advice as early as 2012 that under certain circumstances XRP could be considered an “investment contract” and therefore a security under the federal securities laws.
The key to market sentiment and the strength of Ripple ecosystem is the existence of a good foundation. Without such a foundation, investors are actually likely to be attracted to strong currencies that have lower costs, greater liquidity and faster growth. Nonetheless, this kind of investment is going to require an investor who has a clear idea of the way the protocol will function in the future and just how they plan to handle the funds of theirs.