[속보] Ripple Cryptocurrency Finally “Exceeds $1”… New York Stock Exchange: “SEC Lawsuit Withdrawn, Gensler Resigns”

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[속보] Ripple Cryptocurrency Finally “Exceeds $1”… New York Stock Exchange: “SEC Lawsuit Withdrawn, Gensler Resigns”

View larger imageNew York Stock Exchange virtual cryptocurrency Ripple price

[속보] Cryptocurrency Ripple is finally “surpassing the magic dollar”… New York Stock Exchange “SEC Lawsuit Withdrawn, Gensler Resigns” |

Cryptocurrency Ripple finally broke through the $1 mark. In the New York Stock Exchange, rumors are circulating about the resignation of the Chairman of the SEC, Gensler, the withdrawal of the lawsuit against Ripple, the approval of the Spot Ripple (XRP) ETF, and the Garlinghouse-Trump meeting. Ripple is a virtual digital currency preferred by Koreans. Korea has a bigger demand base than Ethereum and Bitcoin, the main virtual currencies. It is more popular than Dogecoin, led by Tesla’s Musk.

According to the New York Stock Exchange on the 16th, the price of Ripple seems to have been affected (. Since the Chairman of the SEC, Gensler, has been in a legal dispute with the company behind Ripple for four years, it may Gary Gensler Resignation Chairman of the US Securities and Exchange Commission (SEC) Gary Gensler to be a supporting factor for Ripple , “It seems that Gensler will retire,” and said e, “The new head of the securities regulator is someone with pro-currency tendencies.” Previously, the artificial intelligence chatbot said that most analysts expect XRP to break through​​​​ as early as today, Ripple has crossed the last $1 mark.

On the New York Stock Exchange, Ripple whales have been rallying strongly in recent weeks, with Ripple’s total shares reaching their highest level in 6.5 years. Ripple (XRP), the favorite coin of Korean investors, is jumping ahead as a leading digital currency stock as transactions have recently increased and the price has increased. The price of Ripple based on the domestic exchange also recovered to the price of three years ago. In 2021, the price of Ripple went up and exceeded 2,000 won, but it has continued to decline and remained between 500 and 800 won for several years. With the election of Trump, trade volume is increasing rapidly and prices are rising dramatically.

Ripple is a coin that is especially heavily traded in Korea. Ripple ranks 7th to 8th in market capitalization, accounting for only 1.2% of the global coin market, but in Korea, its trading share exceeds 12.5%. It was also second only to Bitcoin (BTC). The reason Ripple is preferred in Korea is because the price per unit is cheaper than other coins and a large number of investors flocked to it due to news of cooperation with domestic banks in the late 2010s when its ‘ market flourishes.

The recent rise of Ripple started in part due to the election of Donald Trump as president of the United States. Ripple is in litigation with the US Securities and Exchange Commission (SEC) over security issues. There are predictions that Ripple’s judicial risk will be resolved as Trump promises to replace the head of the SEC, which is unfriendly to virtual assets. In addition, the possibility of an initial public offering (IPO), the issuance of a stablecoin, and the authorization of an exchange-traded fund (ETF) are discussed.

Ripple also has its disadvantages. A large amount of distribution and unclear usability has held Ripple back. The total amount of Ripple produced is 100 billion, of which 45% are distributed in the market. The rest is managed by the Ripple Foundation. The foundation distributes 1 billion of these each month and collects them again if they are not sold. Since such a large quantity is issued and the volume is released every month, it is difficult for the price to rise suddenly. It has been reported that the amount of the foundation has been gradually decreasing recently. It is not yet known to be used as a means of payment and payment. Ripple has a fast processing speed and was launched with the promise of ease of use as an international payment method, but there are still few issues regarding its use in interbank transactions.
The price of Ripple is exploding because it is reported that the virtual cryptocurrency Ripple Spot ETF will soon be listed on the New York Stock Exchange. Cryptocurrency leader Bitcoin is declining.

According to the New York Stock Exchange on the 15th, the price of Ripple is rising by more than 15%. According to the New York Stock Exchange on the 14th, cryptocurrency media Crypto News reported that the CEO of Ripple Garlinghouse met with President Donald Trump and his associates to discuss the registration of the Ripple ETF According to this report, Bitcoin, Ethereum, as well as Ripple Prices are also variable. After this report, the price of Ripple is exploding.

Ripple (XRP) went up after the confirmation of Trump’s victory in the US presidential election. After the presidential election, the cryptocurrency XRP rose almost 50%. Among the top 20 virtual coins, it showed the highest increase after Dogecoin (DOGE). Several favorable factors are believed to have influenced the rise in XRP, including applications for several XRP ETF spots in the US and expectations of deregulation by the US Securities and Exchange Commission (SEC).

Ripple CEO Brad Garlinghouse has directly mentioned the possibility of allowing a spot XRP ETF. The prospect that the Securities and Exchange Commission (SEC) will bring back non-fraud related cryptocurrency cases in the future is also acting as a catalyst for XRP’s rise. Ripple (XPR) is one of the virtual assets that use blockchain technology. Ripple aims to build a global payment and payment system.

The Ripple Coin cryptocurrency unit is XRP. Unlike other blockchain projects, it is run through a centralized consensus without mining. As a private blockchain, anyone can access the ledger and generate transactions. Ripple was first developed by Ryan Fugger in 2004 as a service for real-time money transfers between banks around the world under the name RipplePay. Ripple Pay was developed as an international payment service and had nothing to do with blockchain-based cryptocurrency.

Daeho Kim, Director of Global Economic Research Institute tiger8280@g-enews.com