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Why is Ripple Coin relatively cheap (Why has Ripple Coin fallen so much)

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Why is Ripple Coin relatively cheap? Why is Ripple Coin relatively cheap?Ripple

Why is Ripple Coin relatively cheap (Why has Ripple Coin fallen so much)

Why is Ripple Coin relatively cheap? Why is Ripple Coin relatively cheap?

Ripple Coin is a cryptocurrency that operates alongside blockchain networks such as Bitcoin and Ethereum. While the value of Ripple Coin has decreased in the past year, its price has maintained a stable growth trend.

Despite being the second-largest blockchain token by market capitalization (currently around $2 billion), the technology behind Ripple Coin – the open-source software development company Ripple Labs – recently announced that it has begun offering a new platform based on XRP worldwide, allowing people to use their wallets to purchase digital assets. The company hopes to facilitate transactions and payments for users by launching a service called “RippleNet.”

However, Ripple Coin also faces some issues. Firstly, the project’s code is not secure, and it is unable to achieve integrity due to technical flaws. Secondly, the project is considering introducing an alternative solution to support smart contracts and faster cross-chain communication. Additionally, Ripple claims that it will be able to perform complex operations and make the protocol more efficient, reducing reliance on blockchain.

To address these issues, the Ripple team plans to establish a new decentralized financial ecosystem. Without this new functionality, the Ripple Foundation will not participate in the network. At the same time, we will also study how Ripple affects the development of Ripple in order to promote the development of the entire industry. So why is Ripple Coin relatively cheap? Simply put, Ripple Coin may have advantages over many other tokens. For example, when you own Ripple Coin, you can receive rewards from xRapid.

According to data from CoinMarketCap, the price of Ripple Coin rose by nearly 20% in May 2019. In the first quarter of 2018, this number soared to over $240,000.

In addition to Ripple, there are other popular cryptocurrencies in the market, such as EOS, TRX, or ADA. Historically, the price of Ripple Coin has been uncertain. However, Ripple still has potential because they have the ability to create encrypted assets like ETH and be adopted in the next few years.

Original source from zycrypto, compiled and translated by the Blockchain Knight, all English rights reserved to the original author, please contact the editor for Chinese reprinting.

Why has Ripple Coin fallen so much?

Editor’s note: This article is from BlockBeats (ID: BlockBeats), authorized to be reposted by Odaily Star Daily.

The market value of Ripple Coin (XRP) has reached approximately $14 billion, while its competitor Ripple’s token has fallen by nearly half in the past week, currently valued at $15.

Ripple Coin has recently enjoyed a bullish trend, rising more than 30% since June; however, it has been falling since July 4.

This time, it was shortly after the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple on March 16. The news had Ripple being sued by the SEC. When asked about the impact of this incident, Ripple Coin co-founder Jed McCaleb replied, “We are now discussing whether Ripple should submit an S-1 form to the U.S. Securities and Exchange Commission for registration?”

“If it is applied to SEC, I think this is a meaningful investment – because they want to get support from investors and regulators through this method.”

Regarding the question of why they are doing this, “if you need to register a company,” actually means working with a third party to issue digital currencies. “If you want to create a cryptocurrency, you need to register a company name,” and this name may resemble Bitcoin, Ethereum, XMR, etc. So if you want to publicly release your identity to promote a company or brand, you can use it to promote a company or brand, or even use software on other blockchain networks, such as DApps based on Ethereum, but you must first download the software before developing applications.

However, based on data from CoinMarketCap, the total market value before the publication of this article was close to $40 billion. According to this estimation, this data will likely continue for a long time.

In fact, the reason for the low price of Ripple Coin is mainly due to dissatisfaction from the Ripple community members with the Ripple project. According to previous reports, at the end of January this year, the price of Ripple Coin skyrocketed to around $1,000, but within an hour, it plummeted to below $1,500, eventually giving back all the gains.

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