Something big is brewing on the cryptocurrency market horizon. Ripple, a cryptocurrency long overshadowed by Bitcoin and Ethereum, is poised to unleash an economic tsunami. But what does this digital coin have that is worthy of causing such a stir? Join us as we explore the depths of Ripple and unveil why it has the potential to become the future face of the global financial landscape.
What is Ripple (XRP)?
Ripple was founded in 2012 by Chris Larsen and Jed McCaleb, who were previously involved in other crypto projects such as eDonkey or Mt. Gox. It uses revolutionary technology that aims to to simplify global payments and to accelerate.
The goal of Ripple is to offer a fast, cheap and secure alternative to traditional payment systems such as SWIFT or PayPal for cross-border transactions, among other things. Behind the project is a company called Ripple Labswhich uses the Ripple payment protocol and associated cryptocurrency, XRPhas developed.
Ripple is based on a Blockchain technology called XRP Ledger (XRPL)which, unlike PoW (Proof-of-Work) blockchains, is a Transaction speeds of just a few seconds are achieved and it is even more environmentally friendly.
the cryptocurrency, XRP, acts as a bridge currency on the Ripple networkto facilitate exchanges between different currencies. XRP has one fixed total of 100 billion unitsof which a certain number of XRP are emitted monthly.
Ripple’s consensus protocol is based on a network of validating nodes operated by trusted partners such as banks or financial institutions. These nodes vote on the validity of each transaction and update the common ledger.
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Ripple litigation: precedent won
Ripple today won a major lawsuit against the US Securities and Exchange Commission (SEC) over whether XRP should be classified as a security. The case is of immense importance as it has the potential to shape the legal framework for cryptocurrencies in the US and potentially worldwide.
Ripple’s victory over the SEC is a milestone for the company and the entire cryptocurrency industry. The court’s decision reiterated that XRP is a currency and not a security. This clarity in the regulatory landscape can help build investor and financial institution confidence in XRP and other cryptocurrencies.
The legal clarity gained through the case could lead to more institutional investors entering the crypto market, which could lead to wider adoption and an increase in market values.
Ripple CBDCs backed by the powerful World Economic Forum and banks
Ripple already has Partnerships with more than 300 financial institutions worldwide closed, underneath Santander, American Express or MoneyGram. Besides that Ripple works closely with the World Economic Forum (WEF).to encourage the development of central bank digital currencies (CBDCs).
CBDCs are digital versions of national currenciesissued by central banks. They are designed to increase the efficiency and security of payment transactions while promoting financial inclusion and being environmentally friendly.
Ripple’s platform offers central banks a secure, controllable and flexible way to issue and manage digital currencies. It also offers an efficient transaction and remittance system that is globally connected and capable of bringing CBDCs to any part of the world.
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New Ripple feature: Line of Credit
To his to give customers a competitive advantageRipple introduced a new feature called Line of Credit that allows them to to borrow capital on demandto fund their payments.
Customers only need one small fee pay to repay the borrowed XRP when it suits them. you need yourself no worries about the fluctuations of the crypto market to make as they pay back the same amount of XRP that they borrowed.
The Line of Credit feature is intended to provide the customer offer more flexibility and efficiencyby giving them the easier access to capitalwithout having to rely on traditional lenders.
This can help them grow their business, enter new markets and serve more customers. Ripple claims that its Line of Credit feature has already shown positive results for some of its clientswhich they used for their payment needs.
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Ripple price prediction 2023 after court case
By precedent, Ripple price has one strong increase of almost 99% at times recorded. XRP was able to do this $0.9376 almost the significant psychological mark of $1 to reach.
Because many have waited for the decision of the Ripple judgment before investing in one of the most promising cryptocurrencies. Thus a investment backlog formed, which could now find a pressure equalization.
Admittedly, some profit taking done, however such important news could also provide great optimism on the crypto market in the next few days. This was probably just the starting shot for an even bigger rally in the altcoin space.
On the other hand, it should be kept in mind that Ripple grossly overbought is. At the same time he has RSI on the daily chart has reached levels that historically have led to heavy sell-offs.
It would be much safer now to wait for price setbacks, but then you could also miss a possible continuation of the rally. The Key resistance lies in the $0.93 and then $1.00 area.
If these key levels are sustained, the rally may continue. The next resistances are then located at $1.03, $1.12, $1.25, $1.32 and $1.41. Should there be any corrections again, lie Supports and buying opportunities at $0.78, $0.68, $0.61, $0.54 and $0.47.
However, the facts suggest that the Ripple price will continue to rise in the coming years and possibly breaking new records. Some analysts predict that the Ripple price could rise to as much as $9 per XRP by the end of 2025what from today’s level of a Yield of 1,054% is equivalent to.
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About the author: Simon Feldhusen first came into contact with the stock market 17 years ago and has been dealing intensively with trading, cryptoassets, stocks, P2P, corporate finance, finance and entrepreneurship on a daily basis for more than 8 years. He has also been working as a copywriter and ghostwriter in the financial sector for several years. During this time he has acquired a diversified knowledge through various training courses on the financial markets and following the daily news. Since then, not a day has gone by that he hasn’t engaged with the markets. He publishes for Finanzen.net, ETF-Nachrichten.de, Coincierge.de and P2E News.com.