The cryptocurrency market push over $1 trillion comes as XRP, the digital token created by the company Ripple and the fourth largest cryptocurrency by value, added a staggering thirty% over the last 24 hours.
About Ripple (XRP)
RippleX makes it easy for entrepreneurs and developers 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 the users of theirs to send and receive payments across any currency, network and geography.
Let’s look at some of the factors that influence XRP and how you can make use of those factors to get the best bargain. XRP is a favorite of crypto traders, perhaps because it offers low cost and reliable liquidity.
Ripple In the News
Some of the latest Ripple 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 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 5 “key questions” about the SEC’s suit against Ripple, nevertheless, he warned he was limited in what he could say as the case is ongoing.
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’ll be filing our initial response within weeks.”
Some cryptosporters used the Peruvian and mexican situations to enter the highly volatile Cryptocurrency markets, but the foundation necessary to support a serious long position is not present.
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.