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Ripple’s XRP Suddenly Surges Five Percent, Leading Crypto Market’s Modest Rally

  • Alex Dovbnya
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    The price of XRP has spiked by five percent, reaching its highest level since Aug. 26 

Ripple’s XRP Suddenly Surges Five Percent, Leading Crypto Market’s Modest Rally
Cover image via news.u.today

XRP, the native token of San Francisco-based crypto behemoth Ripple, is up by approximately five percent over the last 24 hours. The token, which has become a subject of controversy as of recently, posted a huge green candle at 12:00 UTC that pushed its price to $0.273.

XRP/BTC
Image by binance.com

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Ripple CEO Brad Garlinghouse Gives CNN Interview to Spread the Word About XRP: Key Takeaways

Meanwhile, Ethereum has finally surged above the $200 mark after enduring a brutal sell-off. Its price has posting green updates since the much-talked-about Ethereal Summit in Tel Aviv.

Bitcoin, on the other hand, remains dormant with its price hovering above the $10,000 level. As a result, the crypto king’s dominance has dipped to 68.8 percent.   

However, given that its descending triangle is inching closer to a resolution, there is a good reason to believe that it will make a decisive move in the upcoming days.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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