Trading Conditions:
Axi Symbol: XRPUSD
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3 Day Financing: Friday
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The term "XRP/USD" denotes the trading pair involving XRP, which is Ripple's native cryptocurrency, and the United States dollar (USD) in the context of cryptocurrency trading. It indicates the exchange rate at which XRP can be traded for USD. It signifies the cost of purchasing one XRP in US dollars or the amount of US dollars received when selling one XRP.
Ripple was created in 2012 with the primary goal of facilitating cross-border payments and enabling financial institutions to transfer money globally with increased speed and efficiency. It aims to address the inefficiencies and delays in traditional international payment systems.
Since its creation, Ripple has been working to establish partnerships with banks, financial institutions, and payment service providers to integrate its technology and improve the global payment infrastructure.
XRP, which was introduced in 2012, traded at a fraction of a cent up until the end of 2017. Beginning in 2018, increased interest in cryptocurrencies and Ripple's partnerships with major financial institutions caused its price to skyrocket, reaching $3.80 on several cryptocurrency exchanges.
Following 2017's apogee, the entire cryptocurrency market endured a protracted bear market, during which XRP fell below $1. During the Bitcoin rally in April 2021, Ripple's price rose above $1 again.
Since early 2018, XRP's price has decreased by more than 85 percent from its peak.
Its expected circulation supply exceeds 50 billion units, which is less than fifty percent of the maximal supply of 100 billion units. In addition to lengthy court disputes with the Securities and Exchange Commission (SEC), the price of the coin had been depressed for eight years by one of the company's founders' ongoing sale of 9 billion XRP holdings, which he had been liquidating since leaving the company in 2014.
Regulatory actions and legal decisions can have a significant impact on the price of XRP. In December 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs, the company behind XRP, and two of its executives, alleging that XRP was an unregistered security, and that Ripple conducted an unregistered securities offering worth over $1.3 billion through the sale of XRP. This lawsuit had a significant impact on the XRP market and its price.
The progress of Ripple's technology and developments related to the XRP Ledger can influence its price. Upgrades, partnerships, and improvements can attract more users and investors.
XRP's price can be influenced by broader trends in the cryptocurrency market. If major cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH) experience significant price movements, it can have a spillover effect on XRP and other altcoins.
Ripple’s decision to go public through an Initial Public Offering (IPO) would have significant implications for Ripple, its stakeholders, and the broader cryptocurrency industry and could potentially push XRP/USD to new heights.
** Axi Group of companies