Yesterday, Ripple XRP price seemed to have resumed running upward. But as with all other cryptocurrencies, today’s session also fell sharply for XRP. The XRP / USD pair is losing more than 2%. And it is currently trading around the value of 0.79 dollars. From March 5 to today, the downward trend is evident.
There was no upside action above $0.8000 in Ripple price against the US Dollar. The price is currently trading in a range and is preparing for the next move above $0.8000. The recent low was formed at $0.7630 form where the price started rising slowly. It is currently trading near the 38.2% Fib retracement level of the last drop from the $0.8300 high to $0.7630 swing low.However, in the near future, many things could change. And it is expected for the better.
Ripple CEO Spoke in a news conference at Yeouido, northern Seoul
According to the Korea Times, Ripple CEO Brad Garlinghouse said Wednesday that the Korean government needs to implement policy measures to regulate cryptocurrency trading, but “properly.”
“Having thoughtful regulations will help the industry mature”, then he continued speaking about volatility in cryptocurrencies “This is a reflection of earlier stages of market growth.”
“I have no doubt in my mind that we will be continuing to need regulations to protect consumers and businesses,” the executive told reporters.
Garlinghouse said Korea has been a very “exciting market” in terms of its activity and volume growth and added the market for digital assets is now at a stage to seriously think about the following question, “What is real versus what is hype?”
Ripple: the company loses the case against R3 HoldCo
The company that owns the XRP cryptocurrency is currently involved in a legal dispute against R3. However, the company led by Brad Garlinghouse lost the chance to have a court hearing. After the appeal court of the state of San Francisco rejected the request.
Ripple accused R3 of misleading representation. While R3 has accused the company of not being able to pay 5 billion XRP, as part of a partnership agreement.
The currency seems to have been in free fall for a couple of weeks. And among the intrinsic motivations, probably this is one too.
Despite its actual market value, Craig Cole, of CryptoMap, explained that XRP cryptocurrency still has the technology to disrupt the industry.
The ability of this cryptocurrency to handle a large number of transactions simultaneously could make the difference from other cryptographic offers on the market.
Already a lot of financial institutions and companies have adopted this currency among their payment systems. Perhaps, soon, Amazon could do it too. With the XRP price that, in this case, could fly.
The same CEO of the company, Brad Garlinghouse, continues to show its optimism about the future of the currency.
For the moment, the volatility on the instrument remains high. But investing in Ripple is still among the first choices of many investors. Precisely for the possible high future profits.