Ripple rises for first session in four on short-covering

2018-08-09 20:34:55 GMT (

Ripple rallied three percent, or $0.01 on Thursday on short-covering after sustaining heavy losses recently, while plumbing December 12, 2017 lows yesterday on US regulatory curbs concerns. 


As of 06:18 GMT, Ripple rose 2.84% to $0.3417, with a session-high at $0.35712, and a low at $0.3278, with Ripple's market value now amounting to $34.2 billion. 


SEC Delays Crypto ETF Decision 


The U.S. Securities and Exchange Commission (SEC) has delayed its final decision on requests to set up bitcoin exchange-traded funds to late September, in another development that upset crypto enthusiasts in the States. 


The SEC stated: "The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission, ... designates September 21, 2018, as the date by which the Commission shall either approve or disapprove the proposed rule change."


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 85% of value rapidly in the last few months, and finally closing the first half of the year below $0.5.

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