Economy

Ripple Is Up. So Why Is Its Cofounder Selling His XRP Tokens?

Ripple Is Up. So Why Is Its Cofounder Selling His XRP Tokens?

This led the crypto to fall to $0.46 today when compared to the $0.66 peak in the past week.

Ripple's currency has been the subject of hot debate over the past several months. Bitcoin and ethereum were up 4 percent and 8 percent respectively.

At the same time, there has also been some controversy at the helm. The listing of XRP sees the digital asset become the fifth virtual currency to gain listing on Remitano after Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and very recently Bitcoin Cash (BCH).

Though CEO Brad Garlinghouse has consistently asked Coinbase to list the currency, figures like Brad Armstrong and other executives behind the exchange state that they can not offer anything that may be subject to Securities and Exchange Commission (SEC) laws in the future. Coffey alleged that XRP is primarily a security thanks to the way it's been handled and distributed in the past, and thus it is in violation of various securities laws. Most recently, U.S. banking giant PNC to adopt Ripple's xCurrent product to handle cross-border payments, though xCurrent itself doesn't utilize XRP. But should XRP actually be listed on Coinbase in the next few weeks, the bull run could persist.

PNG plane overshoots Micronesia runway and sinks in lagoon
It remains unclear what caused the plane to crash. "Somebody has to look into that and let us now", he told the news website. A cargo plane belonging to Air Niugini went off a runway at Madang Airport in 2013, but there were no casualties.

Nevertheless, Ripple isn't allowing these little barricades to get in the way of its progress.

Companies that are testing xRapid include MoneyGram, Western Union, Cambridge Global Payments and IDT Corporation.

Tracking the broader market, Monday's late sell-off continued through the morning, with Litecoin sliding through the day's first major support level at $56.23 to an intraday low $54.33, calling on support at the second major support level at $54.49.

The surge of XRP was the result of Ripple stating that their new product xRapid will go live "in the next month or so".

Fortnite Season 6 has begun and it now features pets
There is nothing to replace them just yet, but you can be sure new weapons and items will take their place in future updates. So fans who want to keep in the know will need to keep an eye on the Fortnite Twitter account for the latest information.

Ripple as a company had faced mixed fortunes and publicity throughout the year, with various public comments from senior executives causing confusion among investors and the wider cryptocurrency industry. Many other systems for using blockchain to transfer fiat are in the works, including IBM's upcoming Blockchain World Wire (as previously reported by Crypto-News), which will offer the same service via the Stellar platform and the XLM token.

"The use of XRP is set to increase and naturally this will positively impact its price".

Ripple has announced a new addition to its growing RippleNet payment facilitation platform. The company is also scheduled to hold its Swell conference in San Francisco in October. Ripple's technology is now operating in 40 countries with the fintech revealing to the media that it now has over 100 clients around the world.

Some market analysts attribute XRP's sudden drop to Jed McCaleb selling of his XRP holdings.

US B-52s fly over South and East China Seas
Those purchases violated a 2017 law meant to punish the Russian government for interfering in US elections and other activities. -China relations, seen most dramatically in their escalating trade dispute, is spilling over into the military arena.


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