Forecasts About The XRP Value From Trusted Sources
The value of the combined cryptocurrency market has surged to over $1 trillion as prices rise across the board. The surge more than $1 trillion comes as smaller cryptocurrencies, including ethereum, Ripple‘s XRP, cardano and stellar, all make significant gains.
About Ripple (XRP)
Ripple is a real time gross settlement system (RTGS) developed by the Ripple company. It’s also known as the Ripple Transaction Protocol (RTXP) or even Ripple protocol. It is able to trace the roots of its to 2004 when a web developer called Ryan Fugger had the idea to create a monetary system that was decentralised and could effectively allow individuals to produce the own cash of theirs.
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
Several of the latest Ripple news now 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 supply and demand in the resale market to manage and control liquidity for an imagined, future “use” case.
Ripple tried to settle charges of conducting unregistered securities transactions with the U.S. Securities and Exchange Commission (SEC) before the federal regulator sued it in December, CEO Brad Garlinghouse said Wednesday. In a Twitter thread, Garlinghouse addressed what he described as 5 “key questions” about the SEC’s suit against Ripple, even thought he warned he was limited in what he could say as the situation is actually ongoing.
Longer term, the market sentiment towards Ripple may be bearish as investors start to be weary of its legal prospects. It could then be predicted that short sellers will emerge with their short positions, driving up the spread even further. The market sentiment remains bullish at this point and the prices should begin to reverse. This is known as the “flip”.
The SEC is actually 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 careful to look beyond the short term price predictions and consider the long term potential of the currencies involved.