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 easy for developers and entrepreneurs to eliminate the pain and friction that comes with integrating blockchain technologies into their applications. 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.
The price of Ripple’s XRP has been on a roller coaster over the last month after a late November surge was wiped out by a lawsuit brought by the U.S. Security and Exchange Commission against Ripple, casting doubt over XRP’s future.
Ripple In the News
Some of probably the latest Ripple news items of interest include unemployment figures, housing starts, new home sales, auto dealer reports, and mortgage applications.
year that 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 bitcoin and cryptocurrencies.
Several exchanges delisted or halted trading of XRP after the lawsuit was revealed.
At the end of 2020, Ripple hit back at the SEC, accusing the agency of creating more uncertainty due to 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.”
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.
The key to market sentiment as well as the strength of Ripple ecosystem is the presence of a good foundation. Without such a foundation, investors are likely to be attracted to strong currencies that have lower costs, greater liquidity and faster growth. However, this type of investment is going to require an investor who has a specific idea of the way the protocol will function in the future and how they want to handle the funds of theirs.