World News – UK – What is Ripple’s XRP and why is the price rising?

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The main difference between the two is that XRP is a coin while Ripple is the company behind it

For example, if you need to send Euros to someone using dollars, the Ripple Network will convert that to XRP

At the time of writing, an XRP coin is worth around $ 0, 66 according to the Currency Tracker Coin Desk

This is a far cry from its all-time high of $ 329 that it hit on Jan. January 2018 met

One of the main differences between XRP and Bitcoin is that a set number of XRP coins have been produced while new Bitcoin can be created

In total, Ripple has produced around 100 billion XRP coins, although not all of them are in circulation

It is believed that up to a billion XRP coins will be released every month, while Ripple will be 55 billion coins behind in case of market volatility

The price was likely pushed up after traders, according to CoinDesk, asked investors to “pump and dump” the digital tokens via telegram

It seems like an attempt to mirror the recent stock surge in sharply shortened companies like GameStop and Dodgecoin

In the past few days, GameStop’s shares are up over 300% to $ 325 after reaching out to the game retailer

In simple terms, “short selling” means when professional investors borrow stocks for sale and then buy them back at a lower price

When investors do this, they are essentially betting on the stocks falling in value so they can pocket the profit when they return them to the company they borrowed them from

They rely on the company to fail, which makes it a risky way of raising money With any positive news, stocks could rise and suffer losses

Firms offering other cryptoassets must now be registered with the FCA and anyone investing in cryptocurrencies should check before investing

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XRP Price