Ripple News Today – A few days ago, the President of the United States, Donald Trump, almost broke crypto Twitter when he made a post about Bitcoin. The president made it clear that he knows exactly when Bitcoin is but he doesn’t like it. As soon as the President acknowledged the existence of Bitcoin, the price of the cryptocurrency spiked along with ETH, XRP and some other cryptocurrencies. Investors didn’t care if the President endorsed cryptocurrencies or not. The fact that he talked about them was enough to cause bullish pressure. Since then, the XRP army, just like the rest of the cryptocurrency community, has been talking about what Trump’s comments mean for cryptocurrencies.
Ripple News Today – XRP News Today – XRP Army Reacts To Donald Trump’s Comments About Cryptocurrencies
Ever since the inception of cryptocurrencies, one of the key factors that have hindered adoption is regulation. Among other things, getting the approval of government and regulatory bodies has been difficult. Many key figures believe that cryptocurrencies are against everything that an organized society stands for. Because the blockchain doesn’t require the presence of a centralized authority, cryptocurrencies are created solely through community consensus. So, many regulators believe that the advent of cryptocurrencies has promoted an increase in the occurrence of money laundering, terrorism financing and many other illegal activities. This is why many government agencies still don’t consider Bitcoin a legal medium of exchange.
Of all the cryptocurrencies that have to battle off regulators, XRP has had to fight the hardest. The XRP security status is one thing that the entire XRP community has been eager to clarify. While XRP is built on a decentralized ledger just like Bitcoin and Ethereum, the company behind XRP, Ripple, owns and controls more than 60% of all the XRP in circulation. This has been concerning to other members of the cryptocurrency community. Everyone is waiting to hear what the United States Securities and Exchange Commission has to say about the XRP SEC status. Recently, the UK declared that XRP isn’t a security but the United States regulators are yet to make such a declaration.
XRP (XRP) Price Today – XRP / USD
As Trump made his comments about Bitcoin, the entire cryptocurrency community started shilling. Members of the XRP army shilled more than others as they tried to convince the President and the rest of the world that blockchain technology has several benefits and that it wasn’t created to oppose governments and start a revolution. Members of the XRP army have been shilling XRP’s efficiency as an ideal payment settlement layer that is faster than other blockchains and traditional systems.
Ripple News Today – XRP News Today – Can Trump Eliminate Cryptocurrencies And The Underlying Blockchain Technology?
It’s not a surprise that the government is skeptical about blockchain technology. A world that is driven by blockchain technology is free from the manipulation and it ensures true democracy by giving power back to the people. Rather than leave the power to make key decisions to the government, the decentralized community will have the power to make these decisions. Every action on the blockchain will be visible for everyone to see. People are starting to realize that blockchain comes with a lot of benefits beyond the benefits in the financial market. So, no matter how much opposition the industry faces, it is going to keep pushing forward. Blockchain is in the future.
What do you think about Trump’s stance on cryptocurrencies? Do you think opposition from the government will be the end of cryptocurrencies? Share your thoughts in the comment section below.