Ripple price LIVE: XRP chart shows 20 percent rise in 24 hours Friday, January 19
2pm: Ripple remains steady.
XRP dropped slightly to $1.69 (£1.22) at 1.34pm after an earlier peak of $1.
70 (£1.23).
Ripple has leapt by about 8 percent in the past 24 hours, with its coin market capitalisation currently sitting at more than $65billion.
12.30pm: An epic Bitcoin crash is on its way from Japan, according to a Californian political economist
Dr Jack Rasmus, professor of political economy at St. Mary’s College in California, told global news network RT that most cryptocurrencies transactions take place in Asia – particularly Japan which makes up 40 percent of all purchases – and intense speculation would see a crash from Asia within the next 12 to 18 months.
Mr Rasmus said: “China has always been opposed to Bitcoin and Korea is now becoming increasingly concerned.
“Japan is going wild and I think the crash is going to come from Japan.”
The economist added that the lack of taxation and regulation had allowed investors to profit but forces were now going to shift.
Of Bitcoin, he said: “It’s not a currency; it’s a commodity like gold and gold futures.
“In my opinion, it will never become a true currency and if it threatens to become a currency you’re going to see the central banks issue their own digital currency as a way of driving down the price and taking the bubble out of commission.”
12pm: Prices steady as the UK workday hits midday.
Ripple has increased slightly to $1.67, having recovered by 10.48 percent in the last 24 hours.
Bitcoin is also up at $11,799, but with only a 1.
29 percent rise on the last 24 hours.
Ethereum is also steady at $1,075, up from $1,034, a 3.7percent increase on the day so far.
11am: A financial trader h as said Ripple and Bitcoin Cash offer the “best” opportunities for investors in the long-term, while Bitcoin is the “most exposed” cryptocurrency.
Jordan Hiscott, chief trader at social trading platform ayondo markets, spoke to Express.co.uk following a tumultuous few days for the markets
He said: “At this moment Bitcoin is the most exposed cryptocurrency, largely down to its intrinsic value as having the highest market capitalisation at $191 billion, and the fact that it is a victim of its own success. Currently, transaction times are slow and relatively expensive.
“On a longevity basis, Bitcoin Cash and Ripple are the best in my view.
Bitcoin Cash is the offshoot from the hard fork in Bitcoin last year, and importantly, it’s quicker and cheaper to transact.
In addition, Ripple is the electronic payment system that is already being used by many corporations and companies and given the press attention it has received recently, I can only see it going from strength to strength.”
10.10am: The US Securities and Exchange Commission (SEC) has demanded answers on cryptocurrencies
The US securities regulator SEC has raised serious concerns about the securities industry’s plans to use trade cryptocurrency.
SEC director of the division of investment manager, Dalia Blass, wrote a strongly-worded letter to two trade groups representing fund managers, Reuters reports.
He asked them to provide answers to 31 questions about how funds that hold large amounts of cryptocurrencies can provide necessary regulatory legislation.
Mr Blass wrote: “Until the questions identified above can be addressed satisfactorily, we do not believe that it is appropriate for fund sponsors to initiate registration of funds that intend to invest substantially in cryptocurrency and related products, and we have asked sponsors that have registration statements filed for such products to withdraw them.
9.30am Indonesian authorities are probing Bitcoin transactions in Bali after warnings raised
Bitcoin’s future in Bali is threatened after Indonesian authorities raised concerns that the holiday island had become a “haven” for Bitcoin purchases.
Undercover police and bank officials found the cryptocurrency being used in scores of businesses last month due its popularity with tourist and expat communities.
The country’s central bank banned the use of crptocurrencies as payment with futher investigations now on-going.
Causa Iman Karana, head of Bank Indonesia’s representative office in Bali said “We found out from some postings on social media that Bali appeared to have become a haven for bitcoin transactions.
“The next step is we will ban them as mandated by the law. We ask them not to use it anymore.
Along with the Directorate of Special Crime Investigation unit, we will enforce the rule that all transactions in Indonesia must use rupiah.”
9am: XRP continues price rise opening at 20 percent higher than yesterday
XRP opened at $1.58 (£1.13) this morning and had climbed to $1.
63 (£1.17) at 8.14am, surging by 19.14 percent in 24 hours – almost three times as much as Bitcoin and Ethereum.
Ripple has shot up by almost 78 percent since its collapse on Tuesday, making a remarkable recovery.
All three cryptos continue to be in the green.
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