Bittime - Signs of the launch of an XRP ETF are increasingly being heard. This time, it was Uphold's turn, through its Head of Research, Martin Hiesboeck, to provide "code" regarding this matter.
The cryptocurrency world is busy discussing the significant increase in the price of XRP. In the last week, the price rose more than 14%, even reaching a 22% increase to reach a price of $0.7.
This price increase has sparked speculation regarding the possibility of a new investment product for XRP, namely the XRP Exchange-Traded Fund (ETF).
Martin Hiesboeck, Head of Research at Uphold, also spoke about the increase in XRP prices. He believes that the hard work developing XRP after the legal case he faced has produced positive results.
Hiesboeck even provided "code" regarding the presence of an XRP investment product in the near future, saying "There is life in the old girl" (there is still hope for XRP).
Ripple CEO, Brad Garlinghouse, also supports the presence of an XRP ETF. He sees opportunities for diversification (shifting investments to various assets) in the cryptocurrency market with the XRP ETF. Ripple itself fully supports the presence of this investment product, because it is considered a natural development in the world of digital assets.
What is XRP?
XRP is a cryptocurrency and token used by Ripple Labs to facilitate transactions on its network.
The main function of XRP is to improve global money transfers and exchange of various currencies.
Apart from that, investors also use XRP to store value and profit from price rises and falls.
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History of XRP
The company behind XRP, Ripple , is a centralized financial technology (fintech) company that builds various products to solve global payment problems through money transfer, payment settlement and currency exchange systems.
Ripple was originally called Ripplepay, founded by software developer Ryan Fugger in 2004. This was even before Bitcoin, the world's leading cryptocurrency, came into the spotlight. Ripple was then co-founded by Chris Larsen and Jed McCaleb in 2012.
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The goal behind creating Ripple is similar to the vision of Bitcoin's creator, Satoshi Nakamoto , namely to create an easier, faster, and safer way to make transactions globally. The difference is that Ripplepay does not use blockchain and is centralized.
In 2011, McCaleb, David Schwartz, and Arthur Britto began developing the XRP ledger to overcome Bitcoin's limitations. At the launch of the XRP ledger in 2012, the native XRP token was also created to support its functions.
This team was soon joined by Larsen, who is now executive chairman and co-founder of Ripple.
The name Ripple itself underwent several changes between 2012 and 2015. First, in 2012, the name was changed from Newcoin to OpenCoin. Then, in 2013, it was changed again to Ripple Labs.
Finally, in 2015, the company changed its brand and became Ripple as we know it today.
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Why is XRP attractive?
Uphold, a cryptocurrency investment platform, has quite large XRP reserves, namely $1.53 billion. Data shows that approximately 27.62% of total transactions on Uphold involve XRP, with the number of transactions over 19.9 million.
The large ownership and transaction activity of XRP on Uphold shows that XRP is still in demand by cryptocurrency investors.
Cryptocurrency market players are waiting for further developments regarding the potential presence of an XRP ETF.
The presence of the XRP ETF is expected to be a big step to make investing in XRP easier and encourage wider adoption.
How to Buy Ripple (XRP) on Bittime
You can buy and sell Ripple (XRP) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ripple (XRP) is available on Bittime with the market pair XRP/IDR . To be able to buy XRP IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ripple (XRP) on Bittime .
Monitor price chart movements for Ripple (XRP), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
XRP Breakout: Latest XRP (XRP) Price Analysis and Predictions
XRP Whales Move Tens of Millions of XRP As Price Approaches $0.6
Tracing the Conspiracy Behind XRP
Bitcoin vs XRP, Which is Superior?
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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