Ripple News Today – In the cryptocurrency space, transaction volume manipulation is a common thing. Recently, however, Ripple received backlash for not taking a strong stance against exchanges that manipulate their XRP transaction volume. In our previous XRP news, we noted that one of the main reasons why exchanges manipulate volume is to fool the digital asset investor into thinking that the exchange has a lot of customers and activities. Investors are more inclined to use top exchanges that have high transaction volume. Two days ago, Ripple cited a report by the United States Securities and Exchange Commission which stated that more than 95% of the data that exchanges make visible is manipulated. In our Ripple news and XRP news today, we would talk about how the Silicon Valley tech company intends to curb this problem and how it will affect the XRP price prediction 2019.
Ripple News Today – XRP News Today – XRP Latest Update – Ripple Takes Stance Against Volume Manipulation
Ripple said that it is important that players in the blockchain and cryptocurrency space are held accountable for providing correct metrics. The company has said that it would not solve this problem alone but would work with other partners to find out the extent of the problem and the root cause. This would allow them to come up with a more legitimate method of reporting XRP trading volume.
Among other things, Ripple will conduct an evaluation of data sources and their requirements. This would lead to a more conservative approach to recording XRP trading volume. When this happens, the volume of XRP will take a significant hit. The company acknowledged that the new method will certainly affect the volume that is reported for XRP. The volume may go down from 20bps to 10bps according to the XRP news on ZyCrypto. Ripple also noted that it would start a campaign to advocate for market-wide authentication of trading volumes to make sure that the public sees the real figures and not just what the exchanges want them to see. They stated that they believe in absolute transparency and would want the entire cryptocurrency ecosystem to follow this lead.
XRP News Today – XRP Trading Volume – XRP Current Price – Will This Move By Ripple Affect The Price of a XRP
In the cryptocurrency space, there is a strong relationship between trading volume and price. This is why a surge in trading volume is usually accompanied by a surge in price. Higher volumes typically show that there is increased demand for the token in question. So, if the volume is being manipulated, there is a high chance that the value of the token is not its real value. So, real trading volume may translate to real price. For now, it’s not clear how much damage these manipulations have caused.
XRP (XRP) Price Today – XRP / USD
At the time of writing, the price of XRP was $0.400498. This means that it is down by 3.29% against the USD and down by 0.04% against the BTC. The trading volume over a 24 hour period is $2,187,460,529 and the market capitalization is $16,893,819,460. It is struggling to hold its ground above the support at $0.40.
What do you think about the XRP prediction 2019 in our XRP news and Ripple news today? Will more transparent trading volume lead to lower prices? Share your thoughts in the comment section below.