The value of the combined cryptocurrency market has surged to more than one trillion as prices rise across the board. The surge over one trillion comes as smaller cryptocurrencies, including ethereum, Ripple‘s XRP, cardano and stellar, all make significant gains.
About Ripple (XRP)
RippleX makes it simple for entrepreneurs and developers to take away the pain and friction that comes with integrating blockchain technologies into the applications of theirs. Through tools, services and programs built on the XRP Ledger, RippleX enables developers and the users of theirs to send and receive payments across any currency, network and geography.
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
Furthermore, many helpful articles on Ripple XRP news events and undertakings are offered in the news section as well. The latest price quotes for many other cryptocurrencies can also be found here.
Among the things that affect the cost of XRP is the general sentiment of the community towards it. An important aspect of cryptocurrency trading is actually determining the direction of the current trend and how investors are actually feeling about it. Sentiment refers to the general attitude of the people toward something which can either bring bad or good news. And with cryptos, sentiment is able to range from wildly optimistic to very pessimistic.
Ripple has publicly decried the SEC charges and has an initial hearing scheduled for later next month.
On Jan. 7, 2020, Stuart Alderoty, general counsel at Ripple Inc., pointed out that legal processes take time. Garlinghouse commented: “Things may seem quiet, but there’s plenty happening behind the scenes. We’ll be filing our initial response within weeks.”
Some cryptosporters used the Peruvian and mexican situations to enter the highly volatile Cryptocurrency markets, but the foundation necessary to support a significant long position is not present.
While the bull market in cryptocurrencies will continue 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.