Tag: Ripple (XRP)

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Crypto Markets

Ripple (XRP) And Ethereum (ETH) Could Be Nominated As Securities

Gary Gensler, the former director of the US Merchandise Futures Trading Commission, recently announced at the MIT Blockchain Conference that regulators have a “strong case” against Ethereum (ETH) and Ripple (XRP) cryptocurrencies. A case that aims to clarify the classification of these two digital currencies, because apparently there are those who claim that they are “unregistered financial values”.

Ripple (XRP) and Ethereum (ETH) should be considered values by the way in which they were issued

In the case of XRP, the currency is created by a central organization. ETH, on the other hand, was issued through an ICO (Initial Currency Offer), according to Gensler. These qualities, he says, are framed within the vision of issuing and trading shares of a company.

The representatives of Ripple and Ethereum Foundation have publicly rejected that XRP and ETH cryptocurrencies are financial values. Similarly, the researcher and lawyer Peter Van Valkenburgh believes that Gensler is not taking into account the evolution of these cryptocurrencies.

According to Van Valkenburgh, the Ethereum Foundation of 2014 and the actual company are currently distinguishable because, although the ICO carried out four years ago can adjust to the status of financial value, the way in which the network works at this time it has changed radically.

Ripple company denied having a direct influence on the Ripple (XRP)

However, the connection of the Ripple company with the cryptocurrencies market worries several exchange houses, as the Securities and Exchange Commission (SEC) warned that all cryptocurrency exchange platforms that accept assets rated as securities must be subject to the corresponding legislation.

Currently, the classification of cryptocurrencies as financial values in the United States is shallow. This is why we must take into account that Gensler’s statements take place in a complicated legal landscape and with an imprecise use of terms.

The verdict on the classification of these two cryptocurrencies is still uncertain, however, there are indications that the SEC might be receptive to Gensler’s argument. A possibility that could mean the illegalization of the use of both Ethereum (ETH) and Ripple (XRP) in all the cryptocurrency exchange houses that are not registered with the SEC.

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Crypto

Ripple (XRP), Bitcoin (BTC), And Ethereum (ETH) – How The Cryptocurrencies Market Looks Today?

The cryptocurrencies are trading mixed this Thursday, with Bitcoin (BTC) remaining at its lowest value against the USD in the last 3 days, Ripple (XRP) showing a slight recovery, along with the Ethereum (ETH).

Bitcoin (BTC) still at around its lowest value in the last 3 days

The Bitcoin is trading at $8,916, dropping by 0.71% in the last 24 hours.

The Chicago Board Options Exchange wants to reduce the increases on its futures contracts, according to a letter to the Commodity Futures Trading Commission. The decision would reduce the increases from 10 to 5 points, with a point equal to $1. Futures contracts were launched in December 2017, when Bitcoin stood at a record high of $20,000.

Among other news, Nasdaq announced yesterday the intention to launch its own cryptocurrency exchange in the future, as the regulatory environment evolves in the cryptocurrencies market.

Ripple (XRP) slightly recovering

The Ripple (XRP), the 3rd crypto coin in the market by market cap, marked a slim appreciation by 0.87% reaching to $0.82, at the moment of this article.

Massive sell orders made Ripple (XRP) lose its support and remained below the $0.85 level. Most probably it will struggle to jump back to around $0.90 in the upcoming days.

Ethereum (ETH) scores a small increase, despite the recent negative news

The 2nd crypto coin on the market by market cap, the Ethereum (ETH), gained about 2%, at the moment of this writing, reaching to $636.78, despite the recent MyEtherWallet hack.

Besides, Parity Technologies stated today that they will not alter the Ethereum (ETH) blockchain by changing the EIP-999 code to recover the $264 million lost due to a coding error in the wallets, back in November 2017.

“We have worked hard to contribute to the development of the Ethereum ecosystem. We’re not going to damage it. We find the right solutions through collaboration,” wrote the company’s representative on Twitter.

In conclusion, the cryptocurrencies market is not doing well since yesterday, mixed tradings being registered, with crypto coins scoring gains, such as Ripple (XRP) and Ethereum (ETH), while others scoring losses, the best example being Bitcoin (BTC) which today hit its lowest in the last 3 days.

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Crypto

Ripple (XRP) Will Reach $1 In Just A Few Days

Yesterday it was said that the sentiment surrounding Ripple (XRP) is positive and that the coin was sustained by communities. Today, it is clear that the uptrend of XRP is unstoppable now and Ripple (XRP) will reach $1 in just a few days.

The cryptocurrencies market rally

The situation of this generalized cryptocurrencies market uptrend was hypothesized by some cryptocurrencies holders and crypto investors, as well.

According to one of the hypothesis, this great influx of investors is because of the American tax season ending and thanks to the Americans who decided to invest their refunds in cryptocurrencies. Little probable but not impossible.

The second hypothesis says that all these gains are due to the Islamic scholar who stated that Bitcoin (BTC) and cryptocurrencies are acceptable by the Sharia law. A more plausible theory than the first one since the Bitcoin (BTC) spike of about $1,000 on April 12th came right after the declaration made by the Islamic scholar. Possibly, his announcement made religious communities of the Islamic world invest in cryptos.

Ripple (XRP) – Price

By taking a look at the XRP graph, is noticeable that the crypto has set a support level of $0.80 and a resistance level of $0.88, in the weekend. Yesterday, the XRP kept the community’s and investors’ support and these facts reflected in its uptrend today, as Ripple (XRP) passed over the $0.90 level, meaning that is on its way to $0.95 and even further to $1.

At the moments of this article, Ripple (XRP) is trading at $0.92, recording a gain of 5.05% in the last 24 hours. Yesterday, XRP closed at $0.87.

The 3rd crypto coin in the world, with a market cap of more than $36 billion, XRP has also registered a more than $1.2 billion traded volume in the last 24 hours.

We presume Ripple (XRP) will hit the $0.95 level somewhen tomorrow but that would not mean that XRP will jump right to the $1 level. However, after it will stabilize above $0.95, Ripple (XRP) will reach $1 in just a few days.

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Crypto

Ripple (XRP) To Reach $1 – XRP Is Sustained By The Community And Cryptocurrencies Traders

Since Friday, the cryptocurrencies market has gained a lot, with all the big crypto coins registering major gains. Bitcoin (BTC), for example, has raised over $8,800 and is trading now at $8,882, with a 0.41% loss. In general, all the other cryptos followed the BTC uptrend and traded higher than last week. The same is applicable to Ripple (XRP) which has a positive sentiment surrounding it. Can XRP reach $1?

Well, as almost all the crypto coins are trading higher, this might be seen as a gain as a market, more than a gain of a particular asset. However, some assets behave better, while others registered losses.

Just as a short reminder, today, Ethereum (ETH) is trading at around $639 and gained 0.14$, Bitcoin Cash (BCH) $1,368.49 and gained 10.60%, while Litecoin (LTC) has gained 0.52% and is trading at $150.

Ripple (XRP) Price

The positive cryptocurrencies market’s momentum helped Ripple (XRP) to rise above $0.90, a price above which XRP hasn’t been since March.

Currently, Ripple (XRP) is trading at $0.86, registering, at this moment, a 2.21% loss. Despite this slight downtrend, XRP is expected to go towards $1.

Some more optimistic analysts have even stated that XRP can double its price in the near future, so, it is clear that the Ripple (XRP) is recovering faster.

Ripple (XRP) is surrounded by a bullish sentiment

Many traders consider that XRP will consolidate above $0.90, in short-term, but, on the other hand, without maintaining the level above $0.83, Ripple (XRP) will fall towards $0.77.

Also, it seems that the cryptocurrencies traders consider that Ripple (XRP) will uptrend. More specifically, around 78% of them think that XRP is going to hit $1 level soon. Thus, the Ripple (XRP) is surrounded by a bullish sentiment which might indeed keep the coin in its uptrend.

In conclusion, Ripple (XRP) is sustained by the community and the cryptocurrencies traders and this is a very important piece of the puzzle for the coin to gain even more. Therefore, it is possible that XRP to trade around $1 soon.

Categories
Crypto

Ripple (XRP) Eclipses Its Top 5 Competitors, In Terms Of XRP Volume And Gains

Since its emergence, Ripple’s different ways to market Ripple (XRP) has encouraged liquidity providers’ activity and, as result, it managed to increase XRP liquidity and extended the general well-being of XRP markets. To abolish any form of concern regarding the XRP volume, Ripple company put 55 billion XRP in an escrow account secured cryptographically.

By this, Ripple (XRP) enthusiasts and holders, as well as investors, can simply see and check the XRP’s maximum volume, which can be flooded into the cryptocurrencies market.

Ripple company is only holding about 7,17 billion Ripple (XRP) tokens, while the disseminated volume is of about 39,1 billion XRP.

Ripple (XRP) scored better during the last 7 days

These numbers reflect the Ripple’s strategy, instilled to produce high growth for XRP and today we can see that in the cryptocurrencies market, where Ripple (XRP) scored better than its competitors in the top 3, Ethereum (ETH) and Bitcoin (BTC).

During the last 7 days, Bitcoin (BTC) has only increased its volume by 13.29%, while Ethereum (ETH) increased it by 20.60%. Ripple (XRP), as an absolute leader in this regard, scored a 34.77% increase in XRP volume, during the last 7 days.

These figures are totally reflecting that Ripple struggles to gain bigger trading volumes each day. Ripple (XRP) succeeded this in the last 7 days and placed itself in the leading position by trading volumes.

On the downside, Ripple (XRP) lack of consistency when it comes to both trading volume and value against the USD, make XRP lose a few percents in the last day.

Ripple (XRP) price

At the moment of this writing, Ripple (XRP) is trading at $0.86, recording a gain of 15.47% in the last 24 hours. Yesterday, the XRP closed at $0.79.

Also, Ripple (XRP) is, at this moment, the 7th cryptocurrency in the world taken by the last 24 hours gains and the 1st among the coins from the top 10, also in terms of gains.

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