Earlier today, India’s Supreme Court reversed a ban against Bitcoin, Ripple’s XRP, and other cryptocurrencies. While this is a huge development for all digital assets — from the market leaders to the small altcoins that few know of — some are saying this ruling could have an outsized effect on XRP, which has been struggling in terms of price action over the past year and more.
India Reverses Key Anti-Crypto Regulation
For those who missed the memo, first, a quick recap: on Wednesday, India’s top court struck down a directive from the Reserve Bank of India that banned banks from offering services to those that dabble in cryptocurrency, whether it be Bitcoin or XRP or otherwise.
A big win for the Indian crypto industry, who have succeeded in challenging the April 2018 ban from the RBI pic.twitter.com/1o5APDAV2V
— Su Zhu (@zhusu) March 4, 2020
Vaibhav Kakkar, a partner at law firm L&L Partners explained to Bloomberg on the matter:
“With this order, there is a likelihood of more mature and balanced regulation of cryptocurrencies and the fintech sector as a whole.”
Could Be Bullish for XRP (And Ripple)
According to Credible Crypto, a prominent industry commentator and trader, this decision by the Supreme Court to reverse the ban will be especially bullish for XRP. He explained:
“Regulatory clarity was the final piece of the puzzle that was holding Ripple back from going after the Indian remittance market aggressively. Great for XRP.”
The importance of India to Ripple can be further corroborated by the fact that Senior Vice President of Product at the company, Asheesh Birla, said in a panel at Wharton that digital payments and remittances will be huge for Indians in the future:
“Where’s the future? And so we realized in the next five years, one billion people will become banked in India, but they’ll be banked through their phone. So then we started targeting mobile phone providers and telcos.”
The regulatory clarity surrounding cryptocurrencies, which should follow upcoming hearings of the Supreme Court, is like to assuage fears that using a cryptocurrency-based international payment system like Ripple’s On-Demand Liquidity system is a viable option.
This comes at an important time; Ripple is in the midst of a push for the adoption of its products, including ODL, which uses XRP as a bridge currency between institutions and fiat currencies.
The company has successfully started to implement this product into the East-Asian markets, which are full of a need for remittances, making India the next logical step.
Featured Image from Shutterstock origin »
Crypto expert “The Great Mattsby” has found something interesting on the XRP monthly chart: the Bollinger Bands are the smallest they have ever been. This trend has shown huge price changes in the past, which has led to rumours that XRP is about to make a big rise.
Supply zones: $0. 32, $0. 33, $0. 34 Demand zones: $0. 31, $0. 30, $0. 29 XRP/USD Medium-term Trend: Ranging XRP/USD is on the ranging trend on the medium-term outlook. The crypto has been range – bound within the supply zone of $0.
Ripple has finally released XRP’s market report for the duration of the 4th quarter (Q4)of 2018, and things look rosy for the popular crypto. For one, it’s fair to say that XRP has been one of the most stable cryptos in the market.
Ever since Christmas eve, cryptocurrency markets have been changing directions every single day. After peaking at $0. 44 earlier this week, XRP has been looking for support ever since. Currently XRP is trading at $0.
If you bought $100 worth of bitcoin on December 3rd last year, you would sit on a “pile of money” worth $34. Similar story is with all other top coins with one exception – the “bankers” coin XRP is the only one that outperformed fiat and with $100 invested, you would now have $137.
CoinSpeaker
Mega Transaction Alert: Over $910M Worth of XRP Moved for Just 12 Drops
A huge sum of XRP was sent to one receiver’s address for a fee of 0. 000012 XRP. The community is trying to guess the real reasons.
XRParrot is a product launched by one of the members of XRP community, dubbed as WietseWind, that has already launched couple of apps in the XRP ecosystem. The founders see XRParrot as a mean that will serve either users new to XRP, without exchange accounts, or users wishing to make it easier to repetitively get some […]
The post XRP availability in EU gets a huge boost as XRParrot goes live appeared first on CaptainAltcoin.
It’s no secret that Ripple, the creator of XRP, has been on a charm offensive to rope in as many RippleNet customers as possible. With this strong effort, the company has seen its customer base explode and grow in huge figures.
Ripple’s token XRP is gaining much attention and more favorable user experience. Its performance has been rated higher than other cryptos in terms of funds movement. Ripple’s technology enables huge cross-border and cross-currency transactions with blockchain technology.
Months after sealing a $25 million deal with Ripple and other participants including Vivi Nevo, Founders Fund, Karlie Kloss, Omni is now integrating XRP. This is no doubt huge for Ripple demonstrating how their earlier initiative, Xpring, is paying off.
Yesterday, October 11th 2018, you may have heard of a little bit of a crash that occurred in the markets, seeing Bitcoin significantly dropping below the $6,500 mark. The third biggest digital currency saw a big change too as it moved from $0.
It only takes a few minutes for Bitcoin to lose $200 and that’s exactly was happened today. Not only has Bitcoin crashed earlier today but it took the whole market down with it including Ethereum, XRP, Monero, Stellar and so on.
The pursuit for cryptocurrency adoption seems to focus on three major cryptocurrencies, Bitcoin, Bitcoin Cash and Litecoin. Indeed, this isn’t to disregard the likes of XRP and Stellar, both of which also provide a solid use in mainstream society, however in terms of worldwide societal adoption, Bitcoin, Bitcoin Cash and Litecoin tend to be the go-to currencies.
The Grayscale Investments released new numbers which show which digital currencies are bringing in institutional investors. According to the company, over 12% of investors are leaning towards XRP in the companies Digital Large Cap fund, which is an increase on the previous 9.
Ripple has been making headlines for the past few weeks and is still making a push for the number two spot on the top 100 cryptocurrencies according to CoinMarketCap. In the last month, it took over for a short time but slunk back into the third spot on the chart.
Ethereum World News published a report in early August regarding Chris Franko (Expanse) who claimed that he was ordered to pay 400 Bitcoin – which is equal to around $2. 5 million – for a listing position on Binance.
This week marked the launch of Ripple’s xRapid service. This will be the first Ripple service which actually requires the use of the XRP token. XRP had a huge increase in price in the build-up to the launch of xRapid but has since started to depreciate.
Ethereum, EOS, Cardano and Iota got smashed while XRP, Stellar, Tezos and Dogecoin survived the big dip. September has not been a good month for crypto markets. Following the huge rout in August things got worse and new lows were reached once again.
XRP, the native token to the Ripple project is often seen as a less serious investment opportunity. Limits within the build, the market cap and the design of XRP mean that as an investment opportunity, it is unlikely to break a value of over $10.
Things aren’t looking very rosy for Ethereum (ETH) right now as it just briefly lost its market position to Ripple (XRP). In the last few hours, XRP attained a market cap huge enough to blow past ETH and grab position 2 – right behind Bitcoin.
FOMO fever (fear of missing out) is once again spreading among investors after a bearish month for cryptocurrencies has turned into a price surge. Ripple (XRP) has seen the biggest gains among top 50 coins rising 42% to $0.
Within merely 24 hours, the crypto market has added $12 billion to its valuation, surging to $212 billion. As the best performing cryptocurrency on the day, XRP, the native cryptocurrency of Ripple, has risen by more than 40 percent overnight.
Ripple has found itself in the center of huge controversy, the cryptocurrency regulation debate in the US hit Ripple, with claims that XRP is a security. While the company has consistently argued against it, there seems no denying that the standard Securities and Exchange Commission (SEC)’s definition when used in the crypto market, will hurt […]
Ripple Introduces XRP Ledger (rippled) Version 1.
Ripple Labs and XRP II LLC have reached an agreement with the R3 blockchain after a long and stretched out lawsuit across the past year over 5 billion token of XRP (worth around $0. 0085 each). The idea of such a huge sum of XRP was offered to R3 at such a massive discount shows the centralised nature of the business.
Institutional investment, high level investment from corporations and organisations that have a lot of money to spend. The benefit of this? Huge sums of money flooding into the markets. The draw back? None that we can think of just yet.
The enigma of the Chinese economy is hard to miss. From top tech firms to the most promising blockchain and cryptocurrency start-ups, entry to the Chinese market is a huge strategic step. Ripple, the company behind the xCurrent and xRapid payment platforms and the cryptocurrency XRP, is eyeing this market and hoping to bring its blockchain-based […]
China, Ripple’s Number One Priority was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
Stellar (XLM) is now most known as a direct competitor to Ripple and XRP. When it comes to cross border remittance payments, Stellar are working very hard to pip Ripple to the post, and indeed, over recent weeks it seems that Stellar really are going the right way about it.
XRP is set to be added to Coinsquare, one of the biggest cryptocurrency exchange platforms in Canada.
This is exciting news, especially as it falls in line within a period that is seeing extensive research carried out by the Canadian Central Bank into cryptocurrencies and blockchain technology.
One of Ripple’s senior executives has stated that the biggest risk they face is regulation. This has been the case with cryptocurrency for some time, but now companies like Ripple are realising this and taking steps early to counter this.
We have seen a number of reports recently that discuss how Google Trends can be used to prove there is a huge demand for Ripple XRP and TRON TRX at the moment. Because of this, we decided to run a little investigation into the topic.
This is frankly huge news. Coinbase is one of the world’s biggest and most notorious cryptocurrency exchanges.
Today, we have seen news that states (from Facebook directly) the company have lifted their blanket ban on cryptocurrency advertising.
Ripple, in its recent Twitter post, is carrying a highlighted statement by Cory Johnson at the Yahoo Finance Summit last week: “Moving money across borders might not seem that exciting, but if you think about what it means for the global economy, it’s huge.
At Ripple, we’ve always pledged our commitment to helping build XRP liquidity and a healthy and trusted market. Without question, we are huge fans. XRP is uniquely set apart. Proven faster (seconds vs.
In a strategic move that has captured the crypto industry's attention, Franklin Templeton has filed for a Solana-based exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC).
XRP news today suggests the prolonged legal confrontation between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is finally approaching its conclusion.
XRP has experienced a notable price surge, climbing 7% to reach $2.25, marking a strong recovery from recent declines. This upward movement has reignited investor optimism, with analysts speculating whether XRP price can sustain its momentum and target the critical $3 level.
Bitcoin (BTC), Ethereum (ETH) and XRP face carnage in response to Trump’s policies and announcements. The total market capitalization of crypto is down to $2.784 trillion on Wednesday.
Ripple price remains in a bear market after falling by over 35% from its highest level in January. Ripple (XRP) rose for the second consecutive day as cryptocurrencies rebounded after the encouraging inflation data. Most of them rose, with Bitcoin…
Друзья, готовимся к важному событию — уже в мае XRP получит сразу несколько ETF. SEC рассмотрит заявки от Franklin Templeton, Bitwise, 21Shares, Canary Capital, Grayscale и WisdomTree. Но проблема в том, что SEC тянет время.
XRP is at a crucial turning point as the cryptocurrency struggles to maintain support at the $2 level. A breakdown could trigger a significant decline, while a successful defense may pave the way for a bullish recovery. Here is today’s XRP news.
