Connect with us

Hi, what are you looking for?

Mining

Devastating 92% drop for Ripple

Ripple faces criticism after price fixing allegations. Rumours of future use of XRP are thwarted leaving investors uncertain about this cryptocurrency.

XRP has struggled to make a comeback after the widespread dumping of crypto, owed to the coronavirus back in March, while BTC and ETH have made rapid recoveries.

In a recent interview Marcus Treacher, SVP of Customer Success at Ripple was questioned about XRP. He stated that Ripple would be expanding the On-Demand Liquidity (ODL) service which uses XRP as a bridge currency between two fiat currencies. XRP has already established On-Demand Liquidity corridors into Mexico, the Philippines, Australia and Europe, and this company is currently working on expansion by opening corridors to APAC (Asia –Pacific Countries) And EMEA (Europe, the Middle East and Africa) this year.

He also refers to the partnership between Ripple and Banco Santander that has developed a blockchain-based mobile app that offers speedy international payments.

Ripple

“ the bank uses RippleNet to offer same-day international payments with an easy mobile experience,” he added

But notwithstanding these endeavours, Ripple constantly faces criticism. Some crypto observers argue that the company deliberately tempers the growth of the XRP, they allege the massive XRP reserves  Ripple still controls are subject to controlled “dumps” on investors.

The last 48 hours have seen XRP rally, possibly due to the interview with Treacher, and the speculation that ODL services will be established in APAC and EMEA countries this year.

Rise and fall of Ripple (XRP)

However, will confidence in XRP recover? Will there be a return to the former COVID19 prices? Or will Ripple step in and ‘dump’ more XRP on the market in an attempt to manipulate the price?

BNA

Disclaimer: Opinions expressed at Bitcoin News Agency are not investment advice. Investors should do their own thorough research before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. Bitcoin News Agency does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Bitcoin News Agency an investment advisor. Please note that Bitcoin News Agency participates in affiliate marketing.

0 Users (0 votes)
Well written
Interesting analysis
News well timed
What people say... Leave your rating
Sort by:

Be the first to leave a review.

User Avatar
Verified
{{{ review.rating_title }}}
{{{review.rating_comment | nl2br}}}

Show more
{{ pageNumber+1 }}
Leave your rating

Your browser does not support images upload. Please choose a modern one

Advertisement

Trending

Ratings

    You May Also Like

    Cryptocurrency

    Swiss crypto banks merge with traditional banking system. SEBA talking about expansion into Abu Dhabi, Europe, Singapore and institutional investors.

    Cryptocurrency

    France is renewing its commitment to manage, monitor and restrain the access to cryptocurrencies by rejecting bitcoin atms on French territory.

    Technical-Analysis

    While new bitcoin investors FOMO at the mouth with exuberant buying more experienced traders take profits as the coming bitcoin price correction draws closer.

    Politics

    Cryptoasset and the FCA. Can we trust that our banks will not use our financial assets to dig themselves out of trouble as was...

    Copyright © 2020 Bitcoin News Agency, all rights reserved.