The value of the combined cryptocurrency market has surged to more than one trillion as prices rise across the board. The surge more than one 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 actually built upon a distributed open source protocol, and supports tokens representing fiat currency, commodities, cryptocurrency, or other units of value such as frequent flier miles or mobile minutes.
There are some things though that affect the price tag of XRP such as liquidity, intraday volume, and whether it’s bought or even sold during the week. All these factors will affect the price you are able to expect to make from trading in XRP.
Ripple In the News
Several of probably the latest current Ripple news items of interest include unemployment figures, housing starts, new home sales, auto dealer reports, and mortgage applications.
year that 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 has publicly decried the SEC charges and has an initial hearing scheduled for later next month.
On Jan. 7, 2020, Stuart Alderoty, general counsel at Ripple Inc., pointed out that legal processes take time. Garlinghouse commented: “Things may seem quiet, but there is plenty happening behind the scenes. We will be filing our initial response within weeks.”
Some cryptosporters used the mexican and Peruvian situations to enter the highly volatile Cryptocurrency markets, but the foundation needed to support a major long position is not present.
While the bull market in cryptocurrencies will continue to exist, Ripple market participants must be careful to look beyond the short term price predictions and consider the long term potential of the currencies involved.