This Monday’s crypto news show that there is a wide market recovery, led by the second biggest cryptocurrency in terms of market cap, Ripple (XRP). The XRP altcoin has almost touched the $0.4 margin and the coin’s market cap reached close to $15.61 billion, replacing Ethereum to become the world’s second largest cryptocurrency.
The surge is likely to come as an after-effect from the dialogue in which Ripple’s chief marketing strategist outlined all the reasons how XRP is better than Bitcoin, according to him. This definitely attracted potential holders and showcased how decentralized XRP is in comparison with Bitcoin’s centralization and the influence by the Chinese mining community, labeling it as a ‘poor’ technology.
-Bitcoin has some real technological limitations
-The digital asset that show fundamental use cases will develop a fundamental value
-XRP is being used more than Bitcoin being used as of today
— Steven Diep (@DiepSanh) November 23, 2018
The XRP correction took place in the absence of solid backings, which means that its sustainability cannot be guaranteed at this point. A bear pennant formation also indicates the continuation of the current downward trend, and no one knows if this rise could lead Ripple as well as the market to an extended upside recovery action.
Currently, Ripple’s $0.36 worth is providing decent support as the daily basis show just like the rest of the top 30 coins, which are all in the green and starting the Monday fresh with new gains.
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“We will never accept won or renminbi or francs or cryptocurrency, or any other currency. You have to relieve your debts to the state of Ohio with U.S. dollars. That’s what we’re currently accepting. This platform just allows for that exchange, basically before that debt is settled to the state of Ohio.”Sprague pointed out that the treasury is reviewing how the program can be expanded and they are looking into the potential risks that can come up by using this method of tax payments. Ohio is working hard to attract blockchain-related businesses to the state. The state has already passed a law allowing businesses to pay taxes in crypto but the State Treasurer Josh Mandel stated that the legislation ‘’pants a flag’’ in Ohio regarding cryptocurrency adoption. Two days ago, the County Auditors’ Association of Ohio announced the gathering of a group that will work to explore the benefits of blockchain in real estate and transfer of land titles.
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