3 Factors That Add Value to Ripple

Earlier today, the fifth largest cryptocurrency XRP rose to the $ 0.30 level. Here are 3 factors that add value to Ripple.

On Saturday morning, Ripple, the fifth largest unit of cryptocurrencies (XRP), fell after hitting the $ 0.30 level. Nowadays, it is trying to recover within the limits of 0.30. So what are the three factors that add value to Ripple? Here are the details. According to the news on CoinMarketCap, Ripple, which was in a very difficult situation in the morning, reached above the $ 0.30 level. The fifth most popular digital currency has gained 9 percent in value in the last 24 hours. Ripple was trading at the level of 0.302, according to CMC data. Here are the reasons why XRP is experiencing such a rise:   1- Ripple's Response to SEC On January 29, Ripple gave an official response to the SEC, the US security regulator who took legal action against it on December 21, 2020. Ripple's general council, Stuart Alderoty, made the news in XRP's latest blog post and explained the process for the audience. Company pointed out to the SEC that XRP is a digital currency, not a security, and therefore the SEC is not in a position to deal with it. Ripple has never had an ICO, and owning Ripple does not indicate that its owners have a right to receive any part of their XRP income and profits. In the defense made by Ripple, other claims of the SEC against XRP and Ripple were also discussed.   2- DOGE's Appreciation Famous analyst Luke Martin thinks that when Dogecoin (DOGE), known as the "joke coin" of the cryptocurrency market, is on the decline yesterday, the funds started to flow from Dogecoin to Ripple. Dogecoin managed to make it into the top 10 on CoinMarketCap twice yesterday. Then retreated twice. Currently, Dogecoin is ranked 13th on CoinMarketCap. DOGE was pumped by the r/WallStreetBets teams that bought the shares of GME and AMA, and the price gained a serious upward momentum.   3- Elon Musk tagging Bitcoin in his Twitter Bio One of the most important reasons for the increase in altcoins is the sudden increases in the prices of the leading cryptocurrency Bitcoin. On Friday, Bitcoin climbed from $ 32,250 to $ 38,092 approximately 6 hours after Elon Musk, the founder of Tesla and SpaceX and one of the richest in the world, tagged BTC in the biography section of his Twitter account. The community and market thought Elon Musk had finally adopted Bitcoin. Musk’s tweet, which was believed to be about Bitcoin, was recorded on the BTC blockchain. After this big jump, Bitcoin pulled up to $ 34,000.