XRP has become the unlikely white knight of crypto, thwarting its regulatory foes and dragging the market out of the doldrums.
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A run of favourable regulatory and investment moves has started to shift momentum in cryptocurrency markets.
The judgment is a landmark legal victory for the cryptocurrency industry and sent the value of XRP soaring.
It’s not just bitcoin. A number of cryptocurrencies are posting even gaudier numbers than the progenitor of digital money.
Cryptocurrency exchange Luno has added the ripple, or XRP, cryptocurrency to its platform in response to growing demand for so-called “altcoins”.
Japanese cryptocurrency exchange Bitpoint suspended all services after losing about ¥3.5-billion (R445-million) in a hack that involved ripple and other cryptocurrencies.
The slide in cryptocurrencies accelerated on Monday, with bitcoin piercing below the $5 000 mark for the first time since October 2017.
Ripple Labs is gaining new customers because financial firms are seeking faster, more up-to-date technology than the Swift banking network, CEO Brad Garlinghouse said.
The cryptocurrency widely known as ripple is on a tear. Problem is, that’s not its actual name. That would be XRP, a token created for use on the Ripple payment protocol back in 2012.
Cryptocurrencies surged on Friday as optimism surrounding Ripple Labs’ plans for using a digital coin spread, lifting peers that have lost more than $600-billion of value since January.