US Congressman Slams Ripple – XRP Price Might Drop to $0.21

WASHINGTON, The United States – Tom Emmer, a congressman in the United States, says that he will consent digital assets as donations for the succeeding election campaign. It’s via BitPay because XRP can’t convince him for security. Another downside is the indicating pattern of XRP price at $0.2140, which might signal a drop.

The United States or the US congressman named Tom Emmer stated that he would entertain donations via digital assets for the election campaign via BitPay. The congressman expressed his thoughts regarding Ripple, and he doesn’t see the company’s cryptocurrency as “security.” He also admired Ripple for eliminating intermediaries. On the other hand, the network included a lack of clearness of legal rules. As per the congressman, his thought is excellent that this cryptocurrency is not “security.”

The PAC or Political Action Committee of Digital Chamber of Commerce helped organize the event “Cryptocurrency Town Hall.” It featured Brad Garlinghouse, the CEO of Ripple, Guy Hirsch, the CEO of eToro, and Stephan Pair, the CEO of BitPay. It also includes other big names from the digital asset industry.

Emmer said that the country is the lead on the revolution of various ideas in the blockchain industry, and many ideas have realizations in the sector of cryptocurrency. The congressman told industry professionals to work with Washington candidates on the acceptance of the technology of Blockchain.

Emmer wanted to accept the digital asset as his funding for the re-election movement. He’s been a supporter of the blockchain industry, and he expressed his thoughts on the uncontrolled money-printing of Fed. This congressman previously inscribed a letter to IRS regarding the organization of evidence for stocks, where he stated that he would entertain digital currency-donations if it’s via BitPay.

When it comes to the DeFi throughout the Cryptocurrency Town Hall event, Emmer talked about how surprised he was to establish typical funding instruments that companies or governments can’t control.

Aside from this happening, the XRP price dropped 8% as the traders took charge. These sellers worked on a precise bearish pattern on the chart that might put the price to $0.20.

Asheesh Birla, Ripple’s senior vice president or SVP for corporate and product development, said that the transactions in RippleNet are 20%, coming from XRP users.

The ODL, On-Demand Liquidity of Ripple, utilizes XRP as a bond for a fifth of RippleNet’s entire transactions. The settlement scheme of RippleNet doesn’t influence this digital asset, yet users have the choice to utilize it. The network’s transaction volume stays unidentified. Plus, the ODL solution of Ripple affects the altcoin, which is its default feature.

Ripple said that more than 24 of its customers utilize the solution. It includes some distinguished clients, like Viamericas and MoneyGram. On the other hand, significant clients stated that they received some incentive from the company to utilize the ODL.

Now, Australia, Mexico, and the Philippines support Ripple. The company previously declared that the solution would come to Brazil, along with other regions in APAC or Asia-Pacific, Middle-East, Africa (EMEA), Latin America (LatAm), and Europe. Also, Ripple’s ODL will come to these countries in the latter part of 2020.

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Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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