Ripple XRP has had some significant activity in recent weeks. While some news on this major cryptocurrency has positive exposure in the market, others are causing concern. Some of the latest topics include:
• Class-action lawsuits surrounding an unregistered securities offering
• Legal regulations surrounding introducing XRP in India are complicated
• The unlocking of 1 billion XRP tokens in 2 separate transactions of 500 million each
• Expedia announced the ability to accept Ripple XRP tokens as payment
The Price of Ripple XRP in the Cryptocurrency Market
At the time of writing, the price of Ripple XRP is sitting at $0.1858 USD, which shows a definite upswing. As ranking 4th in market cap, XRP has maintained a solid standing in the cryptocurrency world. As the financial markets rebound from the latest COVID-19 pandemic, investors are hoping for another bullish run similar to 2018.
Since Ripple maintains its own exchange platform and holds its own cryptocurrency (XRP) it simplifies the investing process for users. This open-source exchange allows easy transactions that have the attention of major financial institutions like Barclays and Standard Chartered. Major interest, like banks, in digital currencies helps give potential investors the confidence they need to dabble in cryptocurrencies.
Worldwide Popularity Gives Cryptocurrency Weight
As the world becomes more familiar with cryptocurrency, many digital tokens like the Ripple XRP will benefit immensely. By generating more interest in crypto payments, worldwide investors will increase, forcing market prices to rise as a result. Increased platforms showcasing the abilities cryptocurrency can do gives investors a taste of what is to come in the future.
Big-name organizations like PayPal and Expedia are getting into the digital currency game, making the public take notice. Opportunities to purchase and use crypto tokens for everyday purchases give this market the worldwide exposure it needs to expand.
Regulations Surrounding Cryptocurrency Hinder Overseas Investing
Not every country is as open to digital currency as North America. The speculation about regulating digital currencies is abundant in how to keep investors protected from fraud and theft. Some regions like India have strict cryptocurrency laws, while others have either none at all or very relaxed rules. Ripple XRP has devised a model for India that surrounds the legal framework to help stimulate the crypto market there. But as of recent, India has yet to respond to their offer.
How a location handles their cryptocurrency regulations will either aid or hinder the popularity movement of digital tokens. Investors will be hesitant to invest with crypto assets if the threat of government fines or jail time is imminent. How a country handles its digital asset regulations is an essential piece of the cryptocurrency market puzzle.
Will 2020 be the year of successful breakthrough for Ripple XRP? Investors are hopeful that after a disappointing year in 2019, this will be the time for XRP to shine. Examining the current market movement, it seems that the XRP token is on its way up, giving investors confidence. The final months of 2020 could give Ripple XRP the popularity boost it needs to remain high in the market.