Ripple and XRP News
FRMO Corp. Calls Ripple’s XRP One of the Most “Intriguing Cryptocurrencies”
After seeing the downturn in its value at the start of the year the world’s third-largest cryptocurrency is doing pretty great in the last part of the year as the world’s one of the most well-reputed financial risk management firm, has declared it “one of the more intriguing cryptocurrencies”.
As per the shareholder letter released by FRMO crop a financial risk management firm ripple’s cryptocurrency “XRP” is one of the world’s most interesting cryptocurrencies. Further, the report has shed light on the fact that the United States M-2 money supply had risen to $18.259 trillion at the time as this blog is written, which will put Cryptocurrency at the privileged level as it could prove beneficial to curtail the long-increasing inflation.
In this respect according to the report, XRP is special due to its deflationary characteristics. Letter stated:
“If the transaction velocity of XRP were to rise greatly, the number of currency units would decline greatly, thereby creating a substantial return even if the coin itself did not experience an increase in market capitalization.”
Moreover, the report stated, if the value of XRP has to increase, it highly depends on the fall of supply circulation. It also suggested that Ergo among with XRP which is not mined and its validation system is not disclosed to outsiders, has theoretically, the significant potential to provide high return to their users. Besides all the praises, the shareholder letter from FRMO crop admitted:
“One must remember that cryptocurrency, as an asset class, is far from an accepted position. Failure is still possible, which is why the FRMO investment has been modest upon a cost basis. The principle is to be able to survive abject failure in this area.”
As far as, XRP is concerned the things went quite satisfactory during the year 2020. Although the currency did not perform well at all during the first 10 months of the year during which it could only see a growth of 24% compared to 92% and 195% of Bitcoin and Ethereum respectively. But its price did skyrocket during November as it claimed its previously held position of being the world’s third-largest cryptocurrency.
Specifically, the price of XRP increased by an overwhelming 220% on the 24th of November, reaching the price level of $0.76 according to Coinmarketcap. Among the major factors which played the role in its price hike were the XRP’s $45.6 million buybacks and the increasing address shown in On-chain data.
To sum up, it would not be a wrong thing to say that the XRP is going to be one of the highly watchable cryptocurrencies in the year 2021.
SEC Draws Criticism as it Responds to Ripple’s Letter of Supplemental Authority
Ripple Move 120 Million XRP Tokens Following a Recent Price Hike
Ripple Gets Support from the Former Critic Ryan Selkis, the CEO of Messari
UK Government Brings Greater Clarity to Crypto Industry with New Tax Forms
Bitcoin Beats All Odds: Surges Past $26,000 Despite Looming Banking Crisis
Recent Press Release
Involving Bitcoin For Online Health And Wellness
The continuous discussion of cryptocurrency in the world of Corporate Wellness is initiated with a unit to create awareness. Before...
The Primary Challenges Limiting Bitcoin Adoption
The first step to overcoming any challenge is understanding what is at the heart of the issue. Bitcoin has been...
Why Comparing Bitcoin Prices Saves You Money?
For anyone interested in investing in cryptocurrency, surely the thought of deciding which asset to purchase must be maddeningly hard....
Makler Game. Play the game and learn trading
We want to tell you about an interesting game that has appeared on the Internet and which will not only...
Bitcoin Trading: Advice and Methods for Novices
You could be questioning how to begin trading, whether you’re entirely new to the Crypto assets field or have a...