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Amid intensified bearish sentiment in the cryptocurrency market, the price of Bitcoin broke down its important support trendline of $58,000. Furthermore, with the shares of Nvidia bleeding, Artificial Intelligence (AI) has experienced a major blow. On the other hand, top altcoins continue struggling to hold the values above their crucial support levels.
Ripple CEO Brad Garlinghouse has ruled out an immediate U.S. IPO, citing regulatory concerns and ongoing legal battles.
Bitcoin, the largest cryptocurrency by market value, plummeted to a low of $55,555 in the early trading session Wednesday, extending Tuesday's losses.
The XRP price has dropped by 2% today, slipping to $0.5556 as the crypto market loses a hefty 5% in 24 hours.
TL;DR Ripple's RLUSD stablecoin is set to launch in “weeks, not months,” according to CEO Brad Garlinghouse, marking a significant move into the stablecoin market. RLUSD will be fully backed by US dollar assets and operate on both the XRP Ledger and Ethereum blockchain, ensuring liquidity and stability.
Pro-XRP attorney John Deaton has secured the Republican nomination to contest the US election for the Senate in Massachusetts. Consequently, his victory sets up a critical November battle with incumbent Democrat Elizabeth Warren, who is known for her skeptical stance on the crypto industry.
Ripple is integrating Ethereum-compatible smart contracts into the XRP Ledger through a new sidechain.
Ripple CEO Brad Garlinghouse stated Ripple has “no interest” in a US IPO, citing SEC's challenging and inconsistent crypto regulation.
XRP is trading negatively as broader market pressure and internal wrangling have positioned it in the bearish spotlight. At the time of writing, XRP was changing hands for $0.5549, down by 2.53% in 24 hours.
The crypto market has lost $160 billion in a week as the market cap plunges to $1.98 trillion from $2.14 trillion. Leading cryptocurrencies Bitcoin and Ethereum prices today tumbled to a low of $55,606 and $2,306, respectively.
XRP price abandoned the rally planned on September 3 and shot down below a crucial support level as BTC's price slid below $57,000. Meanwhile, the Ripple community is embroiled in a heated debate over the launch of a new sidechain in 2025 by the XRP Ledger core development team.
Brad Garlinghouse made a “gentleman's bet” that Gary Gensler's time as SEC Chair will end, regardless of how the U.S. election unfolds.
Today's market crash has yet again raised concern about crypto assets movement in the coming months since it is expected that the market will break out in Q4. However, the relief is not on sight, especially in September.
Ripple's recent moves have left the XRP community with a lot of questions, and people are debating the company's long-term strategy as a result. Amid all this confusion, one of the most pressing concerns is Ripple's pivot toward supporting RLUSD on the Ethereum blockchain.
This coin has been extremely volatile in the past several years.
XRP edged ahead of Bitcoin today, increasing market speculation about a potential big move as trading tightens. XRP Price Gains Over Bitcoin According to information provided by Binance, the price of the widely used cryptocurrency XRP made a positive change in comparison to Bitcoin today.
In a recent tweet, Japanese cryptocurrency exchange CoinCheck announced the listing of the seventh largest digital currency XRP. Aside from that, the platform is listing five other cryptocurrencies – Ethereum (ETH), Shiba Inu (SHIB), NEM (XEM), IOST (IOST), and Enjin Coin (ENJ).
The RLUSD will be fully backed by U.S. dollar assets, tested with enterprise partners, and will operate on the XRP Ledger and Ethereum blockchain.
During his fireside chat at Korea Blockchain Week, Ripple CEO Brad Garlinghouse said the company will launch its new stablecoin in “weeks, not months.”
Ripple's release of 1 billion XRP tokens from escrow triggers a price drop. Ripple's escrow system aims to promote decentralization and transparency.
Discover what Garlinghouse thinks of a potential Ripple IPO in the United States.
Check the top 5 altcoins of September 2024, that are shaping the future of cryptocurrency with innovative features and strong market positions. Will they perform as expected?
Ripple's RLUSD stablecoin launch could significantly impact the stablecoin market, challenging existing leaders and enhancing payment solutions. The post Ripple will soon debut its RLUSD stablecoin, says Brad Garlinghouse appeared first on Crypto Briefing.
XRP's sideways drift continues after Monday's 4.35% Surge to $0.5681. What next? Crypto analyst Cryptoinsightuk, in his X post, has chimed into the XRP movement in the coming days. The market is rejoicing with the legal outcome of the Ripple vs. SEC case and expects a breakout within the next few months.
