Ripple Beat Ethereum Market Cap

For the third time this week, the Ripple price has achieved a new all-time high at $1.87, surging by more than 36% overnight and obtaining a market cap of $70 billion
29 December 2017   3066

Today Ripple (XRP) beat Ethereum (ETH) and became the second largest cryptocurrency with a market cap of $70 billion, but after half an hour Ethereum returned its position.

CoinmarketcupCryptocurrency Market Capitalizations

For the third time this week, the Ripple price has achieved a new all-time high at $1.87, surging by more than 36% overnight and obtaining a market cap of $70 billion, becoming bigger than both Uber and Didi Chuxing, two of the largest technology startups in the global market with a market cap of above $50 billion.

Ripple ChartsRipple Charts

At the moment of press, these are the main Ripple market parameters:

  • Average price: $1,83
  • Market Cap: $70 755 885 889 USD
  • 24h Trading Volume: $4 409 850 000 USD

The most of the XRP is being traded at:

  1. Bithumb 33.54%
  2. Binance 8.53%
  3. Bitfinex 7.57%

Recently, we have reported that SBI Ripple Asia is forming an association whose participants intend to use blockchain technology to create a single transaction register made using bank cards.

Ripple to Write Open Letter to US Congress

Ripple's execs asked congress to support the development of the technology
29 July 2019   304

Brad Garlinghouse, head of California-based Fintech startup Ripple, and co-founder Chris Larsen, wrote an open letter to the US Congress on the eve of relevant hearings at the Senate Banking Committee. They asked lawmakers to decide on regulation, but at the same time not painting them with a broad brush.

So, Garlinghouse and Larsen are convinced that cryptocurrencies will complement fiat currencies, and not put their existence at risk, and the United States, in their opinion, should lead the development of the industry.

According to them, without proper regulation, there are risks for innovation, tax revenues and jobs in the blockchain industry.

We urge you to support regulation that does not disadvantage U.S. companies using these technologies to innovate responsibly, and classifies digital currencies in a way that recognizes their fundamental differences—not painting them with a broad brush.

Brad Garlinghouse, CEO of Ripple &
Chris Larsen, Executive Chairman and Co-founder of Ripple

Earlier, Garlinghouse agreed with US Treasury Secretary Stephen Mnuchin that cryptocurrency could not replace Fiat.

Probably, the head of Ripple fears that lawmakers will not understand the differences between cryptocurrency and Libra digital currency, and will introduce the same regulation for them.

Despite the fact that Ripple was able to significantly increase its customer base after the Facebook initiative was announced, Garlinghaus had already expressed fears that excessive attention to Libra could harm the industry as a whole.

On Tuesday, July 30, the US Senate will hold hearings on the regulation of cryptocurrency, during which the CEO of Circle company Jeremy Allair, a member of the Congressional research service Rebecca Nelson and a law professor at the University of California Mehra Baradaran will speak.