By Gaurav S. Iyer, IFC Published : February 13, 2018
Ripple News Update
Regulators in Europe and China fired one other salvo in opposition to cryptocurrencies this week, warning of “high risks” related to crypto investments. Investors refused to take the bait.
Despite their worst intentions, bureaucrats in Brussels couldn’t knock the cryptocurrency market cap under $400.zero billion. Nor may they transfer Ripple (XRP) costs under $1.00.
Ripple (XRP) Price Chart
Is this the brand new regular?
It wasn’t so way back that XRP costs trembled on the point out of increased regulation. In truth, the XRP value crash in January started when South Korea entertained tighter controls on cryptocurrency buying and selling. We’re simply presupposed to neglect that occurred?
Apparently, so. Of course, it’s not attainable to know for positive inside this time-frame. But it actually seems to be like XRP traders sprouted a spine in a single day, provided that they’re standing tall in opposition to an onslaught of oppressive feedback from regulators. Here’s a fast reminder, in case you missed it:
- Christine Lagarde, Chairperson of the International Monetary Fund (IMF), says that more regulation of cryptocurrencies is “inevitable.”
- Three European regulators designate digital currencies as “high risk” securities whereas particularly mentioning XRP, Bitcoin, Ethereum, and Litecoin. (Source: “ESAS WARN CONSUMERS OF RISKS IN BUYING VIRTUAL CURRENCIES,” ESMA, February 12, 2018.)
- The identical European regulators say that crypto oversight is a high precedence for 2018. (Source: Ibid.)
- China tries to shut loopholes that permit over-the-counter crypto trades. (Source: “China’s State Media Takes Aim at Crypto Trading, ICOs,” CoinDesk, February 12, 2018.)
- China tries to crack down on ICO operations (once more). (Source: Ibid.)
Even after this flurry of dangerous information, Ripple costs remained comparatively upbeat. At the time of writing, the XRP to USD change charge was $1.05.
January was not a simple month to “hodl” by means of. Now, nevertheless, the market seems to be way more like October 2017, when costs moved sideways for weeks on finish, gathering steam for an epic bull run. As such, we preserve our $10.00 Ripple value prediction for 2018.