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)
RippleX allows for developers and entrepreneurs to take away 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, geography and network.
Let us look at several of the factors that influence XRP and precisely how you can use those factors to get the best bargain. XRP is actually a favorite of crypto traders, perhaps because it offers reliable liquidity and low cost.
Ripple In the News
The Ripple news now aggregators are actually overflowing with stories as of late. Ripple is actually entwined with central banks and government central banks, global economics, stock markets, international trade and commodity prices , government spending, and inflation.
year which 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.
Longer term, the market sentiment towards Ripple may be bearish as investors become weary of its legal prospects. It may then be predicted that short sellers will emerge with the short positions of theirs, driving up the spread even further. The market sentiment is still bullish at the prices and this point should start to reverse. This is known as the “flip”.
Nonetheless, some cryptocurrencies don’t have strong fundamentals and therefore need further support to survive. Also some national currencies including those from emerging economies like the Peru and Mexico, which are experiencing weak demand from wealthy investors. The governments in these countries are trying to support the currencies by creating exchanges or perhaps futures markets to provide liquidity and allow for secure trading.
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 actually indicative of the case’s seriousness. Buyer – and investor – beware.