Crypto News

A Closer Look At XRP, The Market’s #3 Crypto

  • Despite being 85% down from its January 2018 high, recent price spikes have sparked noticeable interest in XRP as investors consider viable diversification candidates for their crypto portfolios.
  • Discussion about XRP often includes criticisms of Ripple, a blockchain payments firm that originally created the XRP token. Furthermore, XRP critics argue that Ripple’s ownership of the majority of the token supply, as well as its penchant for dumping “coins” on the market, is likely to erode any significant value for XRP holders.
  • In the absence of clear-cut regulations, U.S. investors appear reluctant to risk significant exposure to XRP and traders who bought above $1 back in 2018 might be expecting considerable selling pressure as they attempt to recoup their initial investment, likely keeping prices lower.
  • Meanwhile, several countries are working toward creating their own central bank digital currencies. Intergovernmental economic and financial establishments continue to espouse the claim that sovereign digital currencies are preferable to private cryptos.
  • With Ripple marketing XRP as a bridge currency for cross-border remittance, it remains to be seen what the future holds from a utility standpoint for the third-ranked crypto by market capitalization.
  • Read the full story here

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Corey Hansford

Corey has been involved in media and writing since graduating from the illustrious Howard University with a degree in Broadcast Journalism. While relatively new to the cryptocurrency world, he has been writing since 2012 with most contributions coming in the sports world on websites such as LakersNation.com and DodgerBlue.com. Corey is also an avid sports fan who closely follows the Lakers, Cowboys, Dodgers, WWE, and UFC.

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