In the ocean of green of the cryptocurrency market today, there is a red island that is the XRP of Ripple. This is one of the worst performances today, following mixed news.
The price of the vast majority of the top 100 cryptos by market cap rose today, with just five cryptos in the red at 10:41 UTC on Thursday morning. Zooming in on the top 10 cryptos, we see that all except XRP have appreciated over the past 24 hours. The fourth by market cap, however, fell 1% over the past day and 3.5% over the past week, to reach $ 0.29.
XRP Price:
This bearish move follows a series of moderately good news regarding the development of XRP and US firm Ripple. On the one hand, there are some positive developments, as Japan’s securities regulator, theFinancial Services Agency (FSA), stated that it considered XRP to be a cryptocurrency and not a security, based on the definitions of the Payment Services Act, as reported by The Block.
Otherwise, GateHub, an XRP wallet and gateway, said it will continue to support XRP “until the SEC’s complaint against Ripple is adjudicated and a final decision is made or until we receive a notice. of termination of the SEC “.
The US Securities Commission (SEC) filed a lawsuit in December 2020 against the company Ripple and two of its executives, alleging that they had raised more than $ 1.3 billion through an unregistered and ongoing digital asset offering. This action was followed by a number of exchanges which have suspended trading or withdrawn from listing on XRP.
In addition, the digital currency asset manager Grayscale Investments stated that he began to dissolve his Grayscale XRP Trust, which raised $ 19.2 million from 70 investors. He said the cash proceeds from the XRP liquidation will be distributed to the shareholders of the Trust. Recent actions by “major market players” in response to the SEC action, including delisting from XRP, have led the company to conclude that “it will likely be increasingly difficult for US investors, including the Trust, to convert XRP to US dollars and therefore continue the activities of the Trust ”.
In the meantime, Jake Chervinsky, general counsel of Compound Finance, argued that Gary Gensler becoming the new chairman of the SEC (as it was reported that he will be appointed by US President-elect Joe Biden) would actually be good for Bitcoin (BTC), but not for XRP as Ripple hoped.
Gary Gensler deeply understands crypto & has strongly supported bitcoin for years. His selection as SEC chair signals a policy shift in favor of a bitcoin ETF.
He also went on record in 2018 saying there’s “a strong case” that XRP is a security, signaling no shift on that issue.
— Jake Chervinsky (@jchervinsky) January 12, 2021
Separately, Ripple announced their partnership with Malaysian mobile wallet company Mobile Money on January 13, to feed wallet-to-wallet payments to service the remittances corridor between Malaysia and Bangladesh. He stated that through RippleNet, Mobile Money has connected to bKash, a mobile financial service provider (MFS) from Bangladesh.
________
Follow our affiliate links:
To buy cryptocurrency; SEPA Europe zone and French citizens:
To buy cryptocurrency in Canada:
To buy cryptocurrency by bank card or credit card:
To secure or store your cryptocurrencies:
To invest in mining or masternodes:
To transact your cryptos anonymously:
To generate interest from your bitcoins:
To accumulate crypto while playing:
- In poker on the CoinPoker gaming platform
- To world fantasy football on the Sorare platform
If you want to learn more about Bitcoin and cryptocurrency investing, here is the perfect book: “Investing in Bitcoin”.
________________
Here are the sources of information we offer:
Our free weekly newsletter: https://www.getrevue.co/profile/CryptonewsFR
Our audio podcast: https://www.buzzsprout.com/1111262
Our YouTube channel: https://www.youtube.com/channel/UCEu7E2wqP3t3QzAWTWF9weg
Twitter: https://twitter.com/cryptonews_FR
Instagram: https://www.instagram.com/fr_cryptonews
Facebook: https://www.facebook.com/cryptonewsFR
Telegram: https://t.me/cryptonews_FR
_________
