Ripple News Today – Ripple and XRP Gets Thumbs Up From the United States Bureau of Consumer Financial Protection – June 7th, 2020


  • United States Bureau of Consumer Financial Protection Says Ripple and XRP will Revolutionize the Global Remittance Sector
  • Ripple XRP is Still Struggling Against the USD Despite all the Positive Fundamentals 

Ripple News Today – Ripple has always made its intentions known. The blockchain company created XRP and many products to make sure that it fulfills its goal of revamping the traditional financial system. The company has gained a lot of recognition from leading financial industries. Last year the World Bank and IMF made positive comments about Ripple and the XRP token. The most recent thumbs up Ripple received were from the United States Bureau of Consumer Financial Protection (CFPB). The regulator body, in its recent publication, mentioned Ripple and XRP.

Ripple News Today – Ripple and XRP are Revolutionizing the Global Financial Industry

The CFPB recently enacted new laws to protect consumers. However, in the publication that released the new laws, the regulatory body also talked about the Ripple and its XRP token noting that this technology has what it takes to change the game. It stated that Ripple is an emerging player in the financial market. They acknowledged that the global remittance market is changing rapidly and the traditional financial system can’t meet up. Their fees are getting higher and the speed of their transactions is slowing down. So, consumers are looking for faster and more efficient ways to send money to loved ones. This is what Ripple provides. Part of the statement was as follows;

XRP (XRP) Price Today – XRP / USD

“Examples include the continued growth and expanding partnerships of virtual currency companies, such as Ripple, which offer both a payment messaging platform to support cross-border money transfers as well as a virtual currency, XRP, which can be used to effect a settlement of those transfers.”

In other news, the price of Ripple XRP is still struggling against the USD as it has for the last three years. Despite all the efforts Ripple is putting into the development of the blockchain and despite all the recognition the company is getting, the XRP token is still struggling. For the last few days, the token has been able to maintain the support at $0.2000 but moving above this level has been difficult. At the time of writing, the price of the token is $0.202598. It is down by 0.53% against the USD and down by 0.62% against Bitcoin BTC. The trading volume over 24 hours is $1,024,973,180 and the market capitalization is $8,937,157,760. There isn’t any indication that the XRP token will start rallying any time soon irrespective of the price action in the market.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.



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