RIPPLE's price has soared into the green this afternoon as cryptocurrencies start recovering from a lengthy slump that wiped out large swathes of the market. Here is the latest Ripple price live news and latest updates on XRP, bitcoin and Ethereum.
Ripple’s XRP cryptocurrency opened at $0.77 price tag on Wednesday after falling 21.97 percent in 24 hours.
XRP suffered massive price losses along with other cryptocurrencies Bitcoin and Ethereum last week, but all three cryptocurrencies are now posting double-figure gains today.
The CoinMarketCap crypto tracker below shows XRP’s price and market cap value in real time.
Here are all the latest Ripple updates from CoinMarketCap, CoinDesk and leading crypto experts.
5.39pm: Ripple adds new partnership with Hong Kong firm
Ripple has just announced a business deal with LianLian, which it hope will allow it to power instant payments to China.
LianLian will use Ripple’s xCurrent service to process real-time cross-border payments on behalf of merchants and consumers, including invoice payments and e-commerce payments, into China.
Emi Yoshikawa, director of joint venture partnerships at Ripple, said: “Cross-border payments related to China’s e-commerce market reached $1.07 trillion in 2017.
“There is a huge opportunity to make these payments quicker and more cost-efficient.
“With RippleNet, LianLian will now be able to provide merchants and consumers with on-demand payments, which they weren’t able to before. We look forward to connecting other RippleNet members to LianLian.”
3.50pm: Ripple hits $0.80
XRP may still be far below its record high, but the cryptocurrency is storming in price today.
Ripple inched past the $0.80 mark this afternoon as it continues to make gains.
The third biggest crypto on the planet has dipped back to $0.77, though the overall trend today is positive.
2.11pm: US could tighten crypto regulations
The United States is considering imposing tougher regulations on the cryptocurrency market, in a move experts hope will improve stability.
Jay Clayton, chairman at the Securities and Exchange Commission (SEC), said: “We may be back with our friends from Treasury and the Fed to ask for additional legislation.”
Many traders will argue that the whole point of cryptos is too eliminate regulations, though others would no-doubt welcome the increased stability.
1.02pm: Ripple CEO worth ‘$400-$500 million'
Brad Garlinghouse, Ripple’s CEO is worth between $400 and $500 million, according to Forbes.
The 47-year-old reportedly holds a 6.3 percent stake in Ripple and has enough XRP tokens to push his net worth into the nine figures.
12.30pm: Joe Tambini takes over live reporting from Kat Hopps
11.25am: XRP continues climb after early-morning tumble
Ripple is enjoying a steady ascent after a dip in the early hours which took it from $0.78 at opening to $0.70 at 4.14am.
XRP is currently at $0.79, while Bitcoin is also faring well at $8,272
11.15am: Public more enthused about cryptocurrencies than banks, according to ECB
Financial institutions in the European Union are less bothered about cryptocurrencies, such as Ripple, than the public, according to a European Central Bank (ECB) representative.
ECB president Mario Draghi told the European Parliament on Monday that the ECB was not seeing a "notable holding of cryptocurrencies" among banks in the region.
He said: "Actually, the credit institutions established in the European Union are showing a limited appetite for digital currencies like bitcoin, notwithstanding the high level of public interest," he added.
9.39am: XRP rises to $0.77
Ripple has swung back upwards following its downward blip early this morning.
XRP is currently at $0.77 and its market cap is $29.8 billion.
Mario Draghi has called out bitcoin as a "high risk" investment
Speaking at the European Parliament Mario Draghi, president of the ECB, said cryptocurrencies are “high risk” and “unregulated” investments.
He said: “Virtual currencies are indeed subject to high volatility. Their price is entirely speculative.”
8.15am: XRP down 21.97 percent in 24 hours and is at $0.74
XRP has had a volatile start to Wednesday.
After opening at $0.77, it slumped to $0.70 at 4.14am but has regained some of that loss, moving back up to $0.74 (7.49am).
7.50pm: India pressing on with crypto ban
Indian officials have doubled down on threats that cryptos will soon not be eligible as a legal “payment system”.
New Delhi’s economic affairs secretary, Subhash Chandra Garg said: “The government will take steps to make it illegal as a payment system. As well as having a regulator in place.
“We hope now within this financial year the committee will finalise its recommendations… certainly, there will be a regulator.”
5.44pm: Ripple price back below $0.70
XRP’s surge seems to have been short lived, with the cryptocurrency dropping back below $0.70.
4.20pm: Ripple hovering around $0.72
XRP is currently trading at about $0.72, but seems to be on a slight upward trend this afternoon.
The cryptocurrency fell as low as $0.58 just before midday, but has rallied over the past four hours or so.
Ripple’s market cap is now sitting at just over $28billion.
4pm: Joe Tambini takes over live reporting.
2.00pm: Ripple’s XRP seems to have suffered the worst of the crypto crash
The third-largest cryptocurrency by market cap is down almost 80 percent from its January high of $3.3153, falling to just $0.672 per token on Tuesday morning.
In a note to clients Tuesday, Steve Strongin of Goldman Sachs' said: "The high correlation between the different crypto currencies worries me.
“Contrary to what one would expect in a rational market, new currencies don't seem to reduce the value of old currencies; they all seem to move as a single asset class.”
12.46pm: Cryptocurrencies are haemorrhaging money in a ‘cryptopocalypse'
More than 150 billion dollars has disappeared from the cryptocurrency market within the last 24 hours, according to Twitter user Kristian Lien who posted: “The #Cryptopocalypse is upon us.”
The continued collapse has been described as a “bloodbath”, and a “massacre”.
XRP reached prices of $3.29 on January 4 this year, an all-time high.
But with the crypto crash hitting hard, Ripple prices crashed to lows of $0.56 earlier this year - now hovering at around $0.63.
While Bitcoin slid another 13 percent to below $6,000 on Tuesday, bringing the world’s best-known cryptocurrency’s losses to more than half since the start of 2018.
Other cryptocurrencies have also dropped sharply in value this week.
10.23am: Ethereum, litecoin, bitcoin cash, and ripple are all posting double-digit percentage losses on Tuesday morning.
Bitcoin is down 11 percent, Ethereum is down 15.8 percent and Litecoin is down 13 percent.
Tuesday's slump follows carnage in the crypto market on Friday amid chaos as the Dow Jones plummeted on Monday.
9.18am: Ripple XRP price drops almost twenty percent
As of 9am on Tuesday morning, the Ripple (XRP) price has plunged to lows of $0.63 - a drop of 19.48 percent.
The market cap price is valued at $24,900,518,691.