Change The Way You Approach The XRP Price In The Coming Year
The value of the combined cryptocurrency market has surged to more than $1 trillion as prices rise across the board. The surge over $1 trillion comes as smaller cryptocurrencies, including ethereum, Ripple‘s XRP, cardano and stellar, all make significant gains.
About Ripple (XRP)
Ripple is actually a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., an US based technology company. Released in 2012, Ripple is actually built upon a distributed open source protocol, and supports tokens representing fiat currency, commodities, cryptocurrency, as well as other units of value such as frequent flier miles or mobile minutes.
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.
One of the things that affect the cost of XRP is the general sentiment of the community towards it. An important 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 good or bad news. And with cryptos, sentiment is able to range from wildly optimistic to very pessimistic.
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 because of 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 have been using the mexican and Peruvian situations to enter the highly volatile Cryptocurrency markets, but the foundation required to support a serious long position is not present.
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.