The Hidden Factors Behind The Climbing XRP Price

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The value of the combined cryptocurrency market has surged to more than 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 actually a real-time gross settlement system (RTGS) developed by the Ripple company. It’s also known as the Ripple Transaction Protocol (RTXP) or even Ripple protocol. It is able to trace its roots to 2004 when a web developer called Ryan Fugger had the idea to make a monetary system that was decentralised and could effectively allow individuals to create the own money of theirs.

Let’s check out some of the factors that influence XRP and the way you are able to make use of those factors to get the best deal. XRP is actually a favorite of crypto traders, perhaps since it offers reliable liquidity and low cost.

Ripple In the News

In addition to this, many useful articles on Ripple news today events and undertakings can be found in the news section also. The current price quotes for many other cryptocurrencies also can be found here.

Last year, 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 5 “key questions” about the SEC’s suit against Ripple, even thought he warned 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 don’t have strong fundamentals and therefore need additional 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 actually attempting to support the currencies by creating exchanges or even 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 careful to look beyond the short term price predictions and consider the long term potential of the currencies involved.

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