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Information about XRP (XRP)
Ripple (XRP) is a cryptocurrency created in 2012 by Ryan Fugger, Jed McCaleb, and Chris Larson. The Ripple project was developed to enable users to use financial institutions, banks, PayPal, and other services at meager costs and lightning-fast processing speed.
Ripple is a distributed peer-to-peer payment system that is open source. Ripple, like Bitcoin, uses blockchain technology to provide secure payment solutions that assist in the settlement of financial transactions between banks at meager costs.
Furthermore, the benefit of Ripple is that transactions are quick and do not require time to authenticate. Simultaneously, the Ripple platform enables users to trade everything from currency to gold to cryptocurrencies.
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President Trump seeks authority from the Supreme Court to remove senior officials, including Jerome Powell, challenging longstanding legal norms protecting the Federal Reserve’s independence from political pressure.
Ripple’s $1.25 billion acquisition of Hidden Road enhances XRP’s functionality in finance. CEO Brad Garlinghouse highlights this as pivotal for bridging between traditional finance and blockchain technology.
The 90% drop in XRP’s payment volume indicates a significant decrease in network utility and user engagement. This stark change has preceded past price declines, affecting investor confidence.
Currently priced around 1.17 USD, XRP must surpass 2.20 USD to challenge bearish sentiment. Historical support at 1.80 USD is critical for its recovery. Without intervention, further declines seem inevitable.
Recently, XRP whales have accumulated over 1 billion USD in XRP, contributing to a price increase of 11.7% above 2 USD. However, it is important to note that XRP faces resistance at 2.14 USD, which could trigger a decline if not surpassed.
With XRP’s NUPL dropping below the 0.5 threshold, a cautious sentiment emerges among investors. While the overall market dynamics show some improvement, continued vigilance is essential as XRP navigates volatile trends.
In light of the ongoing trade war and recent U.S. Tariffs, China is urging state banks to halt dollar purchases and tighten controls on private dollar transactions to prevent speculation and stabilize the yuan.
While a minor yuan devaluation may help competitiveness, experts warned against a sharp drop that could undermine market confidence. Predictions suggest potential outcomes for the cryptocurrency market, especially Bitcoin.
Ripple’s $1.25 billion acquisition of Hidden Road is set to enhance XRP’s utility in global finance. This move could revolutionize settlement processes and establish XRP as a key player in bridging traditional and digital assets.
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