Market Summary: Ripple’s Rise and Bitcoin In A Holding Pattern
While most of the Cryptocurrency market is down, one coin in particular has been moving a lot this week, in fact up 15% from the 11/22/2014 levels. The currency in regards, of course being Ripple. With a 24h volume of over 2 and a half million dollars, Ripples price per coin slowly approaches $0.015 per Ripple, which is impressive, considering total supply is 99,999,979,958 XRP. This price increase and subsequently market capitalization increase, of course, sets Litecoin even further down, despite the temporary bump to above $4, with Litecoin now at the mid $3 price point. However, the....
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Ripple argued that XRP profits came from “market forces of supply and demand” rather than any contract between Ripple and XRP token holders. The U.S. Securities and Exchange Commission (SEC) and Ripple Labs have both called for a federal judge to make an immediate ruling on whether Ripple’s XRP sales violated U.S. securities laws.In separate motions filed on Sept. 17 by Ripple and the SEC, both have called for a summary judgment in the U.S. District Court Southern District of New York. Summary judgments are submitted to the courts when a party involved believes there’s enough evidence at....
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Bitcoin price is barely holding onto support at $30,000 and it could soon be lost for some time to come, if a pattern that has cut the cryptocurrency down to size confirms. The pattern itself has proven dangerous for Bitcoin in the past, and appears to be in the process of breaking down now. Here’s […]
Potential customers in the U.S. are apparently holding off from using Ripple’s XRP-related services due to regulatory uncertainty. As Ripple reportedly prepares to relocate its headquarters outside of the United States, it turns out that only 5% of the company’s clients are based in the country, according to the firm's CEO.On Dec. 2, Ripple CEO Brad Garlinghouse sat for an interview with CNN anchor Julia Chatterley to discuss Ripple’s regulatory hurdles in operating in the U.S.According to Garlinghouse, as much as 95% of the San Francisco-based company’s customers are located abroad. He....