Cryptocurrency

Ripple adds 1% away from two-week lows

2018-12-04 21:10:27 GMT (Economies.com)

Ripple climbed one percent away from November 26 lows on limited short-covering after a violent selloff wave. 

 

As of 08:32 GMT, Ripple climbed 1.25% to $0.35384, with a session-high at $0.36851, and a two-week low at $0.3400, with Ripple's market value amounting to $14.28 billion. 

 

Ripple rose for the first time in three days on short-covering after tumbling over 6% on Monday, erasing the gains made in the weekend. 

 

The Group of 20 has pledged on Friday after the Argentinean summit to regulate crypto trading in order to combat money laundering and terrorism funding. 

 

 

Earlier this month, International Monetary Fund head Christine Lagarde suggested on global central banks and their respective governments the possibility of issuing their own digital currencies to make them more stable and controlled and accessible for all sectors instead of the current mayhem in that market. 

 

Lagarde believes that payments through digital currencies would be instant, safe, and cheap, and while they would be anonymous, central banks will keep a database of all payments, cutting out fraud and money laundering operations. 

 

The Path of Ripple

 

It's worth mentioning that Ripple was first launched on March 7, 2015, to start trading at $0.015, with the virtual currency losing nearly two thirds of its value by early 2016 to $0.0059, before rising 5% during 2016 to $0.0063, and then skyrocketing 28,000% to $1.748 by the end of 2017, before marking unprecedented highs in January at $3.30, then losing up to 90% of value on a violent selloff wave that stormed crypto assets this year. 

 

Ripple then reversed nearly 80% higher in only a few days in September on positive news for the cryptocurrency and its standing between major financial institutions, before joining a mass decline in the crypto market in recent days and weeks. 

Risk Disclaimer : Enzious Limited would like to remind you that the data provided in this site is not necessarily in real time or accurate. All stock prices, indices, futures and foreign exchange rates are not provided by exchanges but by market makers, so prices may not be accurate, may differ from the price of the actual market, which means that the quotes represent an indication and are not suitable for commercial purposes. Therefore Enzious Limited does not assume any responsibility for any business losses that may be incurred as a result of the use of this data.
Request Desktop Site