The cryptocurrency market push over $1 trillion comes as XRP, the digital token created by the company Ripple and the fourth largest cryptocurrency by value, added a staggering thirty% over the last 24 hours.

About Ripple (XRP)

Ripple is a real time gross settlement system (RTGS) developed by the Ripple company. It’s also called the Ripple Transaction Protocol (RTXP) or perhaps Ripple protocol. It can trace the roots of its to 2004 when a web developer called Ryan Fugger had the idea to make a monetary system that was decentralised and could effectively allow individuals to create the own money of theirs.

Let us check out several of the factors that influence XRP and the way in which you can work with those factors to get the best deal. XRP is actually a favorite of crypto traders, perhaps because it offers reliable liquidity and low cost.

Ripple In the News

Several of the latest current Ripple news items of interest include unemployment figures, housing starts, new home sales, auto dealer reports, and mortgage applications.

Ripple’s objectives and its own financial reality have compelled it to actively seek to offer and sell XRP as widely as possible, while controlling demand and supply in the resale market to manage and control liquidity for an imagined, future “use” case.

Ripple has publicly decried the SEC charges and has an initial hearing scheduled for later next month.

At the end of 2020, Ripple hit back at the SEC, accusing the agency of creating more uncertainty due to 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.”

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 go on 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.