The value of the combined cryptocurrency market has surged to over 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)
Ripple is a real-time gross settlement system (RTGS) developed by the Ripple company. It is also referred to as the Ripple Transaction Protocol (RTXP) or even Ripple protocol. It can trace its roots to 2004 when a web developer called Ryan Fugger had the idea to make a monetary system that was decentralised and could effectively allow individuals to create their very own cash.
Let’s take a look at some of the factors that influence XRP and precisely how you can make use of those factors to get the best offer. XRP is a favorite of crypto traders, perhaps since it offers low cost and reliable liquidity.
Ripple In the News
The Ripple news now aggregators are actually overflowing with stories as of late. Ripple is entwined with government and central banks commodity prices, international trade, stock markets, global economics, and central banks , government spending, and inflation.
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 has publicly decried the SEC charges and has an initial hearing scheduled for later next month.
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 will be filing our initial response within weeks.”
The SEC is 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.