Ripple rose more than two percent, or nearly $ 0.01, on Friday to see its lowest rebound since July 12, while it is still poised for its first weekly loss in three weeks following the US Securities and Exchange Commission's asking for more information about Cryptocurrency or digital currency.
Securities and Exchange Commission's
At 0650 GMT, the digital currency RIBL rose 2.18% to $ 0.43970 compared to the opening levels of $ 0.43031 after hitting a three-week low of $ 0.42523, while its highest in today's session was $ 0.44600. Currently, the market value of the world's third-largest digital currency by market value after both BTC and etherum is about $ 44.1 billion.
Earlier this week, we followed some reports that the US Securities and Exchange Commission is seeking information on fees charged for trading in digital currencies. Brokerage companies that provide currency trading services should follow up on the report issued by the Securities and Exchange Commission. Trading, financial transactions and the initial offering process. The TRA also asked companies to clarify the agreements.
This came hours after coinebase announced that Ripple was in a trial phase for users to trade and allow them to finance their calculation and trade against regular paper money and other digital currencies. The CEO of coinebase , Diamond, "While we are excited about this launch, we are also aware that this wait was long."
"We appreciate the patience of everyone with us and we are committed to making better progress," said Diamond, citing the Canadian brokerage platform earlier this week. We would like to point out that although Ripple is the third largest currency, However, some stock exchanges were reluctant to include them due largely to skepticism about whether the asset is a guarantee and regulatory concerns.
It is noteworthy that the largest trading platform for digital assets coinbase refused to include Ripple, although it listed four out of the seven largest digital currencies in terms of market value, and disclosed their support for the inclusion of Fifth Stellar (XLM), we would like to point out that QuinSquare has a plan An ambitious expansion will allow it to take a foothold in the markets of Twinsheim by Queenspas, such as the United States, the largest digital currency market, and Britain.
We would like to point out that the digital currency Ripple was lunched on March 7, 2015 at $ 0.015 and lost about two-thirds of its value with the beginning of 2016 to $ 0.0059, and then achieved about 5% during that year to $ 0.0063 by early 2017 Which ended at $ 1.748, up 28,000%.
Ripple achieved its highest ever at $ 3.30 on the fourth of last January, before losing more than 85% of its market value with the closing of the first half of this year without a $ 0.5 barrier according to the price of the "Gatehub" platform.
However price of ripple continues to fluctuate near the pivotal support of $0.42, and we are still waiting to break this level to confirm the continuation of the bearish wave towards the next target at $0.30, to keep our bearish bias unless the price is breached to breach the level of $0.54 and stability above it.
The trading range for today is expected among the support at $0.30 and the resistance at $0.50.