Ripple (XRP) is a virtual currency that boasts the same popularity as Ethereum among altcoins. Many people who are starting to invest in crypto assets (virtual currency) will be wondering what kind of crypto assets they are. Ripple has been evaluated for its practicality as a tool to support the settlement speed of international remittances and currency conversion and is said to have high future potential.
This article presents the latest news about Ripple. We will also touch on features such as prices, charts, advantages, and disadvantages, so please refer to basic information and future trends.
What is Ripple (XRP) a cryptocurrency that attracts attention?
Latest news about Ripple
On November 9, 2021, Ripple announced on its official blog a new service, “Ripple Liquidity Hub,” which will be available to corporate customers in 2022.
The service is built for companies as a crypto asset liquidity platform and allows companies to efficiently procure cryptocurrencies from the crypto-asset market at optimal prices.
Companies can also provide their customers with the ability to easily buy, sell and hold cryptocurrencies on various exchanges.
At the time of general availability, it will support Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), and Ripple (XRP). In the future, it will be expanded to other digital assets, and will also support NFT (Non-Fungible Token) and staking.
In his blog, Ripple states that he envisions a “crypto-first future,” showing a positive attitude towards digital assets.
This is likely to have a positive impact on future Ripple prices.
Originally it was around 60 to 70 yen, but it reached the 200 yen level on the 14th due to the sharp rise in early April. After that, the rise subsided, and there were days when the price fell below 100 yen due to the plunge from May 19th to 23rd.
As of November 12, 2021, Ripple has been up and down in the 130 yen range.
Ripple’s popularity is deep-rooted, and as new cryptocurrencies are born one after another, it continues to maintain its top 10 market capitalization in cryptocurrencies. This is because, as far as the price movements so far are concerned, the price is steadily rising while fluctuating up and down.
With room for a significant price increase over Bitcoin and Ethereum, Ripple, which has begun to establish itself in cryptocurrencies, is now a chance to buy.
If you are buying Ripple for 500,000 yen now and it rises to the 260 yen level, it is not a dream that 500,000 yen will change to 1 million yen.
Ripple’s past and future soaring
Ripple has seen a sharp rise in prices in the past. From the following, we will predict future price movements from past examples.
Past soaring examples
In late November 2020, Ripple showed a big price increase. The closing price on the 19th was 30.504 yen, but as a result of showing a sharp rise from the next day, it has more than doubled to 70.296 yen on the 24th.
Since “AirDrop”, which is a free distribution, will be held in December of the same year, it seems that there was a flood of buy orders due to expectations. Bitcoin and other products also showed a large price increase at the same time, so it may have been affected by that.
In April 2021, there was a big price increase. At this time, the closing price on the 3rd was 64.309 yen, but on the 14th it jumped to 200.358 yen. April was an Easter holiday in Europe and the United States, and the rise of altcoins such as Ethereum and Tron was conspicuous. Ripple’s events and the economy of the cryptocurrency market seem to be affecting the market.
Possibility of future soaring
Ripple may continue to soar. This is because it is highly evaluated for its ability as a remittance network.
The success of other popular virtual currencies such as Bitcoin and Ethereum is also a point. If a popular currency soars, it could be multiplied by other varieties. Ripple is considered to have excellent ability to survive the market because its high remittance ability is evaluated by financial institutions all over the world. It can be said that not only the movement of Ripple but also the movement of the entire cryptocurrency industry holds the key to the soaring price.
Ethereum and Ripple
Ethereum is the representative of altcoin, boasting the second-largest market capitalization after Bitcoin among virtual currencies. It has become an immovable position in the altcoin world.
Ripple related news
Here, I will explain the latest movements regarding Ripple. While the expansion of alliances with financial institutions and rising demand are attracting attention, there is also the negative aspect that development companies have trials. It’s a good idea to think about each of them in a well-balanced manner and connect them well to predict the future.
Continued expansion of alliances with financial institutions
Ripple tends to talk about expanding alliances with financial institutions. On May 18, 2020, the National Bank of Egypt announced that it would start using the remittance network “Ripple Net”. It is said to be useful for international remittances from the UAE to Egypt.
In addition, it is news that Ripple opened a new base in Dubai in November 2020. Starting activities in the rapidly growing Middle East region will hold the key to further progress. As many financial institutions such as SBI and Bank of America have already partnered with Ripple, we are paying attention to the big news in the future
Demand as an international remittance system is increasing
Ripple’s growing demand as an international remittance system is likely to be news. In April 2021, its partner UK remittance company TransferGo revealed that its cash flow in the global market exceeded $ 3 billion.
The spread of the new coronavirus has had a major impact on the worldwide attention paid to cashless payments. As a result, there are more cases of payment companies such as TransferGo showing rapid growth. Ripple as a remittance network is considered to be easy to follow the trend of cashless payment prosperity. It will be a positive material for predicting the future market price.
In court with US Securities and Exchange Commission
Ripple is currently in court with the SEC (US Securities and Exchange Commission) over securities issues. On December 23, 2020, the SEC sued the company for selling unregistered securities with the cryptocurrency XRP.
However, Ripple has denied the SEC’s allegations. On May 6, 2021, the judge asked for evidence of the differences between Bitcoin and other cryptocurrencies that are not securities. This is considered to be a favorable trend for Ripple. However, some may take the fact that the development company is in dispute negatively. The outcome of the trial is likely to affect the market, and I would like to keep an eye on future trends.
What is the future of Ripple?
Generally, it is said that the future of Ripple is bright. This is because the increase in transaction volume is noticeable these days. Due to its ability to speed up remittances, it is attracting attention from financial institutions around the world and has the potential to increase its value.
The future is bright due to the increase in transaction volume
Ripple’s third-quarter 2020 financial results show that the average daily trading volume of XRP was $ 403.58 million. This is said to have increased by 206% compared to the previous quarter. It can be said that this is an event that shows the rise in popularity of Ripple. It is possible that the value will increase in the future due to the large growth among many virtual currencies.