With the total market cap of all cryptocurrencies now exceeding $1 trillion, Ripple‘s price is also rising as it recovers from a Christmas week crash.
About Ripple (XRP)
RippleX makes it simple for developers and entrepreneurs to eliminate 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 us take a look at some of the factors that influence XRP and how you are able to 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
Furthermore, many useful articles on Ripple news now events and undertakings are offered in the news section also. The present price quotes for a lot of other cryptocurrencies may also be found here.
One of the things that affect the price of XRP is the overall sentiment of the community towards it. An essential aspect of cryptocurrency trading is determining the direction of the current trend and how investors are actually feeling about it. Sentiment refers to the general attitude of the individuals toward something which can either bring bad or good news. And with cryptos, sentiment can range from wildly optimistic to very pessimistic.
Ripple has publicly decried the SEC charges and has an initial hearing scheduled for later next month.
On Jan. seven, 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.”
However, some cryptocurrencies don’t have strong fundamentals and therefore need additional support to survive. Even 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 attempting to support the currencies by creating exchanges or even 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.