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.
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“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.’’Over the past few months, Bitcoin and the other cryptocurrencies show similar movements. BTC showed weeks of stability but it later plunged by 10 percent. However, the current stability is not a guarantee for improved future performance. The crypto market shows a period of stability for the past couple of weeks. Ethereum made gains during today’s trading session. After the 12 percent surge in the price of ETH, crypto trader DonAlt said:
“Well, this is a proper moon. Not a big liquid spike but rather a nice controlled walk up. Didn’t expect quite this much action into the weekend but I’m not complaining. ETH as the top gainer on BitMEX. Right at resistance here – will be interesting if it can break through or not.”
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