The Sluggish Economy Has Not Changed The Outlook On 2021 XRP Price
With the total market cap of all cryptocurrencies now exceeding $1 trillion, Ripple‘s price is also rising as it recovers from a Christmas week crash.
About Ripple (XRP)
Ripple is actually a real time gross settlement system (RTGS) developed by the Ripple company. It is also referred to as the Ripple Transaction Protocol (RTXP) or Ripple protocol. It is able to trace its roots 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 create their very own money.
Why don’t we take a look at some of the factors that influence XRP and how you are able to make use of those factors to get the best deal. XRP is a favorite of crypto traders, perhaps since it offers low cost and reliable liquidity.
Ripple In the News
The Ripple news now aggregators are actually overflowing with stories as of late. Ripple is actually entwined with government and central banks commodity prices, international trade, stock markets, global economics, and central banks , government spending, and inflation.
Ripple’s objectives and its very 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 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 because of 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.”
Nonetheless, some cryptocurrencies do not have strong fundamentals and therefore need further support to survive. Even some national currencies including those from emerging economies like the Peru and Mexico, which are experiencing weak demand from wealthy investors. The governments in these countries are attempting to support the currencies by creating exchanges or even futures markets to provide liquidity and allow for secure trading.
The key to the strength and market sentiment of Ripple ecosystem is the presence of a reliable foundation. Without such a foundation, investors are actually likely to be attracted to strong currencies that have lower costs, greater liquidity and faster growth. Nevertheless, this type of investment will require an investor that has a specific idea of the way the protocol will function in the future and just how they intend to handle the funds of theirs.