Cryptocurrency value

Ripple Price ‘Crash’: Cryptocurrency Value Plunges Following Devastating XRP Loss | City & Business | Finance

Ripple is currently embroiled in a dispute with R3 but lost the chance to have a home hearing after the San Francisco state appeals court dismissed Ripple’s claim.

XRP has accused R3 of misrepresentation while R3 accuses the crypto company of failing to pay 5 billion XRP coins under a partnership agreement.

Ripple’s price traded at $ 0.83 before falling more than 1% to $ 0.7760 on that day.

Since the loss, XRP has rallied and is currently worth $ 0.79.

Ripple appears to be in free fall – the cryptocurrency was trading at $ 0.96 a week ago, but has since fallen.

Despite the low market value – Craig Cole, of CryptoMap, explained that cryptocurrency still has the technology to “disrupt the industry”.

He said the cryptocurrency’s ability to handle a large number of transactions at once could set it apart from other crypto offerings in the market.

He said: “Its faster transaction speeds and lower fees make it easier for financial systems to adopt virtual currency, which is part of the reason why Ripple’s value has increased significantly this year.

“Ripple helps financial institutions save money and this is expected to become even more prevalent in payment streams.

“Virtual currency is certainly on the rise and has the potential to be the first token to really disrupt an industry, and if it does, expect XRP to hit Bitcoin-like ubiquity levels in the industry. the near future. “

Transactions can take place in as little as 10 seconds using XRP, however, a fee of 0.00001 Ripple coin is charged to those making the payments.

However, the transaction costs will likely stay the same even if Ripple’s value increases.

Ripple CEO reveals why Ripple will triumph in the long run

Low transaction fees could make XRP more attractive than other cryptocurrencies in the market like Bitcoin.

Unlike the most popular virtual currency, Ripple is not limited to 21 million coins.

Instead, 100 billion XRP tokens can exist, making it a larger supply than Bitcoin by 4,700 times.

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100 billion XRP tokens can exist

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Ripple’s price was trading at $ 0.83 before falling more than 1% to $ 0.7760 on the same day

Following Amazon’s decision to register the domains of amazonethereum.com, amazoncryptocurrency.com and amazoncryptocurrencies.com, rumors have spread that Ripple could be used on an exchange created by the trading giant.

If Ripple were part of a growing exchange, its prices could rise exponentially.

Despite Ripple’s incredible potential, it should be noted that cryptocurrencies are extremely volatile and are susceptible to extreme peaks and troughs over short periods of time.


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