XRP Price Plummets as SEC Targets the Ripple-Backed Cryptocurrency
XRP has seen some turbulent price action as of late, with the recent SPARK airdrop giving it massive momentum that sent its price as high as $0.90 on some exchanges, with this proving to be a sell the news event that has caused it to see some serious downside. One black swan event that is […]
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Ripple Labs co-founder Jed McCaleb has announced his intention to sell his sizable stake in the company's native digital currency. Known as ripples, or XRP, the currency was created as a unit of account and spam prevention tool within the Ripple Labs payment network. In a post on XRP Talk forum, entitled 'Selling my XRP', McCaleb made his intentions known: "I plan to start selling all of my remaining XRP beginning in two weeks. Because I have immense respect for the community members and want to be transparent, I'm publicly announcing this before I start." Price drop. In contrast to the....
Photo by _Mo. The XRP price has trended upward over the past few months, which vaulted Ripple up the market cap charts (XRP is the Ripple platform's native currency). Thus far, the XRP price has avoided entering a cooling-off period. It may be time to certify Ripple as cryptocurrency's #2, at least by market cap. Also Read: Ripple Labs Cracks U. S. Banking with New Deal. XRP Price Rise Solidifies Ripple as Crypto's #2. In late September, Ripple passed Litecoin for 2nd-place on the cryptocurrency market cap charts. Since then, Ripple has widened the gap between the two cryptocurrencies to....
The XRP price correction is exacerbated by reports of a looming lawsuit against Ripple. XRP price declined by 21% in two days on Coinbase from $0.5695 to $0.4491. The drop was accelerated by reports on Dec. 22 that the U.S. Securities and Exchange Commission (SEC)’s is preparing a lawsuit against Ripple.Brad Garlinghouse, the CEO of Ripple, said the SEC “voted to attack crypto,” citing a Fortune article. He wrote:“Today, the SEC voted to attack crypto. Chairman Jay Clayton - in his final act - is picking winners and trying to limit US innovation in the crypto industry to BTC and ETH. We....
Recently, Ripple-the electronic payment protocol-has experienced a market cap surge due to an increase in the price of its native currency, XRP. Despite CCN's predictions, the XRP price has continued to march in the right direction. During the past month, the XRP price rose more than 200%, expanding Ripple's market cap and leaving litecoin in the dust. Now, Ripple has moved past Litecoin in CoinGecko's comprehensive cryptocurrency rankings, indicating that Ripple's market cap placement is well-deserved. Also read: XRP Price Rise Solidifies Ripple as Crypto's #2 by Market Cap. XRP Price....
Gold Bullion International, a precious metals provider, announced in a statement Tuesday that it was opening as a live gateway on the Ripple protocol, creating a new gold-backed cryptocoin. That currency, XAU, is effectively a token representing physical gold with all of the ease of transaction inherent in cryptocoins. Or, as the Ripple blog puts it, “You are buying gold balances issued by GBI that are backed by and redeemable for physical gold bullion.” This has two key effects, the statement says: Gold becomes easier to trade. Gold can be spent anywhere Bitcoin is accepted via the Ripple....