The value of the combined cryptocurrency market has surged to over one 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)
RippleX allows for developers and entrepreneurs to remove 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 their users to send and receive payments across any currency, geography and network.
The price tag 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
Moreover, many helpful articles on current Ripple news events and undertakings are available in the news section too. The current price quotes for many other cryptocurrencies can also be found here.
One of the things that affect the cost of XRP is the overall sentiment of the community towards it. A crucial aspect of cryptocurrency trading is actually determining the direction of the current trend and how investors are feeling about it. Sentiment refers to the general attitude of the people toward something which can either bring good or bad news. And with cryptos, sentiment can range from wildly optimistic to very pessimistic.
Several exchanges delisted or even halted trading of XRP after the lawsuit was revealed.
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’ll 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.
While the bull market in cryptocurrencies will will begin to exist, Ripple market participants must be very careful to look beyond the short term price predictions and consider the long term potential of the currencies involved.