Back in 2018, Ripple had it rough after the lawsuits because of the controversial ‘’securities discussion’’ but has since returned on the stage and now is the second best cryptocurrency in ranking with a market cap at about $12.8 billion. In today’s altcoin news we can see that the XRP ledger has officially crossed 1.5 million users.
With the increasing market cap, the XRP ledger also increased its user base since it was less than 1.3 million in June last year and has now seen a growth of more than 15 percent. Ripple is gaining a lot of appreciation from the banking industry and the South Asian Director of Ripple Navin Gupta said that Ripple has plans for further expansion in South Asia and the North African region. he pointed out that there are a lot of banks who are now working with Ripple for cross border payments:
“There is a very significant amount of movement from high street banks to join the network and we believe at different points in their lifecycle they will make this decision.”
The primary issue with the XRP token is that is a centralized one. A good chunk of controlled by Ripple itself and according to Chief Market Strategist Cory Johnson, Ripple’s XRP can’t be sold at any time since there is a cryptographic lock that still needs to be proven.
However, the high community support and technical advances such as xRapid are what boosts Ripple further and make it a very favorable choice. It still needs to find a way to ensure and prove the cryptographic lock so we are expecting more about that soon.
Binance Removes US Resident Ban: Launching In “A Month Or Two”
“3. Prohibition of use By accessing and using the Services, you represent and warrant that you are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list, designated as a “Specially Designated National” by OFAC (Office of Foreign Assets Control of the U.S. Treasury Department) or placed on the U.S. Commerce Department’s “Denied Persons List”. Binance maintains the right to select its markets and jurisdictions to operate and may restrict or deny the Services in certain countries at its discretion.”When comparing the wording to the one uploaded in June, it is clear that Binance removes US resident ban. The previous text read that "Binance is unable to provide services to any U.S. person," - which is why the difference is obvious.
China’s Digital Fiat Currency Is Not A Real Cryptocurrency
“Since last year, the staff at the Digital Currency Research Lab have been working 996 to develop the system. We can say the CBDC is now ready to launch at one’s call," was his speech, later shared by many best cryptocurrency news sites.The CBDC with this aims to replace MO, meaning cash in circulation through a two-tier system. The central bank will issue the digital yuan only to commercial banks, who will further issue it to the public. Meanwhile the PBoC and its Digital Currency Research Lab are the ones standing behind China's digital fiat currency - along with more than 50 patent applications which are all either invented or co-invented by Yao Qian. One patent application reads:
“The emergence of digital currency is an inevitable trend. So far, privately issued digital currency bears the features of anonymity and volatility. Central banks must take their impacts on the payments, monetary systems and financial stability seriously. As such, it’s inevitable for central banks to push for digitized fiat currencies to optimize their circulation.”However, physical cash is still arguably the only form of fiat money inside China that can remain anonymous. We can see that China's digital fiat currency is not close to cryptocurrency - and the only third-party methods which are compared to bank wire can be offered by companies like Alibaba or WeChat - both requiring real-name verification authenticated by users' IDs as well as additional banking information.
“Existing M0 (banknotes and coins) are subject to counterfeit and money laundering risks. … The [CBDC] system should follow the existing rules about anti-money laundering and anti-terrorism financing imposed on cash, and should report to the PBoC on large amounts and suspicious transactions,” Mu emphasized in a speech.
Market With Mixed Signals As Ether And Bitcoin Record Minor Gains
XRP Will Defy The Altcoin Apocalypse: Ripple Chart Analysis
"Although many of the technicals like RSI, and position relative to moving averages looks like XRP is severely oversold and could bounce, traders should be cautious because the token has been falling out of favor with many crypto market participants, and there are many competing projects with similar characteristics and arguably a much better value proposition that have come to market."
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