Hank Uberoi, chief executive of cross-border payments specialist Earthport, has said that established banks might hold back on using Ripple’s service because they are “unsure” about how it is regulated. The crypto is currently worth just over $199billion, far ahead Ethereum at $102billion and Ripple at $62.5billion. The cryptocurrency has since dipped back to $1.64, but investors will be encouraged by today’s performance overall.ĩ.14pm: Bitcoin market cap near $200billion againīitcoin’s total market capitalisation is creeping back towards the $200billion mark, following this week’s crash. XRP briefly broke the $1.70 barrier this evening, pushing as high as $1.73.
Ripple has shot up by almost 78 percent since its collapse on Tuesday, making a remarkable recovery.Īll three cryptos continue to be in the green. XRP opened at $1.58 (£1.13) this morning and had climbed to $1.63 (£1.17) at 8.14am, surging by 19.14 percent in 24 hours - almost three times as much as Bitcoin and Ethereum. Latest XRP charts show a sharp downturn in price from about 1.15pm this afternoon.Ĩ.30am: XRP continues price rise opening at 20 percent higher than yesterday Ripple is currently holding out at 0.04 percent growth, but rivals bitcoin and Ethereum are already down two and 1.35 percent respectively. Nearly all the top-100 cryptocurrencies have started to depreciate at the same time. The news comes after the Chinese Government shut down crytpo exchanges in the country last September.ģ.33pm: Cryptocurrency market begins to fall Effective measures should be adopted to prevent payment channels from being used for cryptocurrency settlement.” “Service for cryptocurrency trading is strictly prohibited. The People’s Bank of China has ordered financial institutions to cancel all business dealings related to cryptocurrencies, the South China Morning Post reports.Ī statement issued by the central bank said: “Every bank and branch must carry out self-inspection and rectification, starting from today.” He added that he “doubts they can be both” because people are unlikely to spend their cryptos in a traditional transaction if they believe the price with be ten times higher the following year.ģ.54pm: China bank bans cryptocurrency trade The questions we have to ask ourselves is: are these genuine alternatives to fiat money for monetary exchange purposes, or are they turbo-charged speculation tools that create vast amounts of wealth?” “This is why I have some trepidation about the future of the asset class. “My personal view is that it’s problematic to group all cryptocurrencies together as most have vastly different features. He told .uk: “With at least a 50 percent retractment from the high in December, it does seem that the bubble has burst for some cryptocurrencies. Jordan Hiscott, chief trader at Ayondo Markets, said he has “trepidations” about the future of cryptocurrencies unless fundamental questions about the purpose of cryptocurrencies are answered. Its market cap now sits at just over $59billion, which is equivalent to 5,221,920 BTC, according to CoinMarketCap.ĥ.07pm: Is the boom over for Ripple, bitcoin and Ethereum? XRP is now trading at $1.52, a drop of nearly 5.8 percent over the past 24 hours. The global market cap now sits at $562,013,842,812, according to CoinMarketCap.Ħ.18pm: Ripple’s price falls to near $1.50 Ripple is down nearly seven percent in the last 24 hours, with bitcoin down 3.40 percent and Ethereum down 3.43 percent.
The biggest 10 digital currencies are all down today, following yesterday’s rally. Mr Adam said the threat of a crypto crackdown was a "recurring theme" in the cryptocurrency market because of its novelty. However, Bitaccess co-founder Mo Adam however dismissed concerns, claiming it would be impossible to completely ban bitcoin.
South Korea revealed plans to curb crypto futures to crackdown on criminal activity exploiting cryptocurrencies. The other top tokens are in the green at 9.43, with bitcoin and Ethereum up 8.96 percent and 6.18 percent respectively.ĩ.30am: Sebastian Kettley takes over live reporting from Joe Tambini.Ģ2.40pm: Bitcoin, ripple and ethereum have been under threat from the South Korean Government The token's price briefly peaked just after 5.30am, shooting up to $1.61 and has since traded around that price point. XRP entered the Saturday markets at $1.55, according to CoinMarketCap – down 8.8 percent on its Friday high of $1.7. 475K $XRP? LMAO!”ĩ.43am: Ripple kicks off on an uncertain foot Ms Hayden tweeted: “Lambo for sale in the hotel parking lot. The asking price for the sports car is 48 BTC, 545 ETH, 3,200 LTC, 475,000 XRP or 8.3million TRX. “One of seven in the world in this Tiesto Grigio colour. Tiffany Hayden, community manager at Edge Secure, tweeted out a photo of a Lamborghini up for sale for bitcoin, ripple, litecoin or Ethereum.Ī sign on the car reads: “For sale in cryptocurrency only.
3.51pm: Lamborghini on sale for 475,000 Ripple XRP tokens
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