The value of the combined cryptocurrency market has surged to more than $1 trillion as prices rise across the board. The surge over 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 (RTGS) developed by the Ripple company. It is 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 create a monetary system that was decentralised and could effectively allow individuals to produce their own money.
Why don’t we take a look at some of the factors that influence XRP and the way you can make use of those factors to get the best bargain. XRP is actually a favorite of crypto traders, perhaps since it offers reliable liquidity and low cost.
Ripple In the News
Some of probably the latest Ripple news today items of interest include unemployment figures, housing starts, new home sales, auto dealer reports, and mortgage applications.
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 bitcoin and cryptocurrencies.
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 actually 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.
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.