XRP is up 5% against BTC thanks to Biden


XRP News – Ripple Gains Massive Influence With Biden Administration

XRP is up 5% against BTC thanks to Biden

  • XRP is gradually recovering from a string of failures

  • Former Ripple Board Member’s Appointment to Head OCC Is Encouraging

  • Ripple hopes for “smart regulation” under Biden

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XRP is recovering after several weeks of a crash. Thursday Token As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More managed to grow by almost 6%, despite the sale of bitcoin

For the cryptocurrency fintech startup Ripple (XRP), 2021 did not start well. The coin not only fell sharply, but also dropped to the fifth line in the ranking of digital assets by market capitalization.

XRP is up 5% against BTC thanks to Biden

However, XRP supporters are finally having hope of a recovery. BeInCrypto previously reported that new US President Joe Biden nominated Michael Barr for the post of head of the Office of the Currency Controller (OCC).

Barr, a former U.S. Treasury official, was previously an advisor to Ripple. Moreover, he is known as someone who understands how cryptocurrencies work. In 2016, he wrote an article on Bitcoin, in which he described how banking services can be made more accessible to a wider audience..

Does bitcoin have a future in development?

– Michael Barr (@Michael_S_Barr) January 21, 2016

Not surprisingly, in the context of Ripple’s recent problems with the Securities and Exchange Commission (SEC), his appointment was taken as good news..

What’s next for Ripple

Ripple Labs Inc. seeks to get away from the unwanted and unfavorable context that has haunted her in recent months. The latest post on the company’s official blog states that it has significantly strengthened its position in the industry over the past 12 months, but tight regulation in the United States and globally remains a key problem..

Ripple’s legal advisor Stuart Alderoti says crypto regulation will be a top priority for the Biden administration.

“Thoughtful and competent regulation, properly voiced and implemented will help level the playing field, will promote innovation and massive distribution of cryptocurrencies in the United States,” he said..

For better (not worse) crypto will be on the shortlist of financial regulatory priorities for G20 countries. There is really no choice as these technologies move into the mainstream.

– Stuart Alderoty (@s_alderoty) January 19, 2021

XRP is recovering

XRP is up 5% against BTC thanks to Biden

All signs of recovery are evident. XRP rate against bitcoin has been growing for the fourth day in a row. The coin bottomed out three weeks ago and has gained nearly 39% since then..

XRP has great potential for further growth, which will be realized if the company manages to competently resolve its problems with the SEC. In general, the coin is entering a consolidation phase after a wave of sales..

Source: TradingView

Will the Biden administration bring good news for Ripple Labs? The company needs regulatory clarity more than ever.


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