What Is Ripple (XRP) And How It Is Different from Bitcoin?

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Ripple is a payment processing network that was created to meet the requirements of the financial services sector. XRP, a cryptocurrency designed to operate on the Ripple network, has regularly ranked 5th in cryptocurrencies in terms of market value. Ripple refers to both a cryptocurrency (XRP) and also an open transaction network via which that money may be exchanged. It is a decentralized, open-source payment method that is currently under development. According to the ripple system’s website, the system aims to allow individuals to break free from the “walled gardens” of financial networks – i.e., credit cards, financial institutions, PayPal, and other organizations that limit access through fees, currency conversion costs, and processing delays.

In What Ways Are Ripple (XRP) And Bitcoin Different From One Another?

The primary distinction between bitcoin as well as a ripple in its initial purpose. Firstly, Bitcoin has been created as a decentralized peer-to-peer replacement to the conventional payment system. The concept behind bitcoin has been that a third party or intermediary is no longer required to trade value. On the other hand, Ripple is being designed to supplement rather than replace banks’ existing payment systems. Ripple’s protocol may be used to send money.

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Bitcoin And Crypto Market Smashes Through $2 Trillion As The Price Of Ethereum, Binance Coin, Litecoin And Ripple’s XRP Suddenly Soar

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Bitcoin and cryptocurrency prices are soaring, pushing the value of the entire cryptocurrency market over $2 trillion for the first time (though some think the bull run could be just getting started).

With the bitcoin price hovering around $60,000 per bitcoin, the psychological $2 trillion barrier was broken by sharp increases in the price of smaller cryptocurrencies ethereum, binance coin, Ripple's XRP and litecoin, according to data from crypto price website CoinGecko.

The bitcoin and cryptocurrency market has more than doubled in value so far this year, rising from around $750 billion at the beginning of the year. Bitcoin, by far the biggest cryptocurrency by value, makes up more than half of the cryptocurrency market capitalization and has traditionally led the market.

Continue reading at forbes.com

Showtime for XRP As appointed bis chief tags traditional cross-border payments as very slow and expensive

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The digital token XRP has a mainstream means of adoption as the head of the Bank of International Settlements, Benoit Coeure, lists cross-border payment solutions as an urgent priority in the world of finance. He also rated traditional cross-border payments as very slow and expensive.

This could be an opportunity for XRP to thrive

Coeure, speaking at the World Economic Forum in Davos, shared his thoughts on the use case for stablecoins and digital assets. He believes there is little progress in issuing Central Bank digital currencies (CBDCs) around the world. He thinks it may take a while to materialize. But Coeure admitted that current cross-border payment solutions are very slow and expensive.

"… it's about having a technology that cuts across borders. Everyone agrees that [cross-border payments] are now very slow and very expensive. The top priority for the community is not CBDCs … the top urgent priority is to improve cross-border payments. In particular, for low-income and developing economies."

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Pornhub adds XRP, BNB, USDC, and DOGE to its payment options

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Adult entertainment website Pornhub has added four new coins to its list of supported crypto payment options — XRP, BNB, USDC, and DOGE — The Block has checked on Wednesday. 

The move means Pornhub's more than 120 million daily visitors can now pay for premium subscriptions in the four digital assets. Notably, Pornhub has removed the support of privacy-oriented coin Dash and PumaPay token, which were supported as of mid-December. That suggests that the changes have been made over the past month. 

The latest revisions increase the number of Pornhub's supported coins to sixteen from fourteen before (see screenshot). It should be noted that Pornhub only supports crypto as the payment option for some countries, including the U.S., the U.K., and Singapore. While for some EU nations, such as Germany, it supports bank wires.

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XRP Investors Take Legal Action After Ripple Charges

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For almost all conventional cryptocurrencies available on the market, 2020 was a great year. For most, 2021 looks very promising, but this is not the case with XRP.

The Securities and Exchange Commission (SEC) has officially accused Ripple Labs and two of its executives of selling more than $1 billion in unregistered securities. Now, former investors are suing the SEC. It appears that XRP holders do not approve of the token being labeled as a security by the SEC. As such, they are taking the government to court because of the damages they declare XRP a security cause them.

What does the petition involve?

XRP investors who filed this petition claim that the SEC is not doing its best to protect U.S. investors. These investors argue in the first point that declaring XRP a security is actually a disservice to the interests of investors. This result is the

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XRP Hangs While SEC Officially Files Charges Against Ripple

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XRP ( XRP-USD ), the third largest cryptocurrency in the world, lost nearly a third of its value on Wednesday, when investors responded to official accusations from the United States Securities and Exchange Commission (SEC) alleging that the token is an unlicensed bond.

The SEC filed lawsuits on Tuesday against U.S. company Ripple, whose founders created XRP. Two Ripple executives also face charges.

The SEC alleged that Ripple and its executives sold unlicensed securities, violating the rights of investors in the lawsuit. The watchdog said the group had illegally raised $1.3bn (£968m) since 2013 by selling XRP tokens without SEC authorization.

Read the entire story at: finance.yahoo.com.

Ripple Is Dealing With A Multibillion-Dollar Market With XRP Digital Assets

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Ripple is addressing a multi-trillion dollar payment market with its XRP digital asset, the company's head of global institutional markets said recently. Breanne Madigan believes that the usefulness of XRP in this market provides a driver for value creation.

In an interview with The American financial magazine Barron's, Madigan investigated why XRP will yield great value in the long run, the case of investing in Bitcoin and the investment strategy she believes can bring the best returns to investors.

For new players, Madigan encouraged them to intensely study some individual cryptocurrencies before investing. They should seek to understand the usefulness of these cryptocurrencies and their central value proposition. In addition, they should analyze the problem that these currencies are solving and the total market addressable. Ripple's XRP is an excellent example of a cryptocurrency that is solving a real-world problem, she told the outlet.

Read the full story at: crypto-news-flash.com.

Ethereum, Ripple’s XRP And Chainlink Are Defeating Bitcoin – These Smaller Cryptocurrencies Too

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Bitcoin has had an incredible 2020, more than doubling in price since the beginning of the year - with some predicting it will continue to rise. The price of bitcoin has recently skyrocketed to its highest record in 2017, but has failed to break the psychological barrier of $20,000 per bitcoin.

Now, after bitcoin's recovery helped catapult cryptocurrencies back into the headlines, investors are eyeing the sky-high returns of so-called smaller "alternative currencies" - including ethereum, Ripple's XRP and chain link.

These massive rallies are overshadowed by the returns recorded by a handful of other smaller cryptocurrencies. Yearn.finance, used by interest-like investors to move funds through the DeFi ecosystem, rose an astounding 2,600% last year alone.

Read the full story at: forbes.com.

Japanese Investment Firm Tests Ripple Use In The Foreign Exchange Market

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A major Japanese investment giant, SBI Holdings, and crypto startup FXcoin Ltd have begun testing Ripple's use of crypto XRP in the settlement of corporate credits and debts.

The cryptocurrency is leading the experiment, which involves Japanese investment and trading giant, Sumitomo Corporation, in the settlement of credits and debts to other companies of the Sumitomo Group with XRP.

Sumitomo Corporation will also "make a future transaction with [FXcoin] to protect the XPR price movement and sell XRP to [FXcoin] on a specific date", according to the cryptocurrency's press release, FXcoin.

Read the full story at: nairametrics.com.

Ripple Is Selling 33% Of Its Property On MoneyGram

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The world's emerging financial steamroller, Ripple, recently disclosed that it is selling about 33% of its stake in MoneyGram. It is the first sale of these shares since Ripple invested in the popularly known U.S. remittance company in 2019.

Data retrieved from Ripple's filing with the U.S. Securities and Exchange Commission revealed that Ripple owns 8.6% of the outstanding shares in Moneygram or 6.22 million shares, including a warrant to purchase an additional 5.95 million shares for a total equity position of 12.2 million shares or 17% of MoneyGram outstanding shares.

Ripple announced that it will sell about 4 million shares, approximately 33.3% of its entire stake. Following this sale, the fintech company will still hold at least 3.22 million shares or 4.44% of MoneyGram.

Read the full story at: nairametrics.com.