Founders Dumping the XRP – Community Concerned

Bitcoin for Micropayments

Bitcoin has been influencing the movements in the cryptocurrency market for quite some time.  However, this trend is beginning to change.

Major cryptocurrencies like Ethereum, Litecoin, Ripple’s XRP and Bitcoin cash moved higher while Bitcoin remained on hold.

The price of the Bitcoin was up by 0.5% over the past 24 hour period.  Ripple’s XRP was up by 10%, Ethereum was up by 8%, Litecoin and Bitcoin Cash was up by 6%.

Ripple has been selling XRP to its clients and to fund different investments.  There was growing silence among the XRP community regarding this.  Ripple currently owns about 60 billion to 100 billion XRP tokens.

One of the Twitters explained his concern about the founders dumping the XRP community by tweeting:  “I’m thinking about forking XRP, so we don’t have to deal with the founders dumping, this will be a community effort.”

About 3,600 signatures were recorded in the last month in a petition that was meant to stop “dumping” of the XRP.

Bitcoin has improved by nearly 200% this year.  The token has been trading sideways over the past couple of months.  The market watchers were eyeing the global regulators and the activities of technological giants.  This they are doing to make out what might be happening with the Bitcoin and cryptocurrency market up next.

The sentiment among the cryptocurrency market has been boosted due to Bitcoin dominance in terms of the measure of Bitcoin value when compared to the rest of the cryptocurrency market.  The current improvement in the Bitcoin price trend is something that has not been seen in almost two years.

Mati Greenspan stated, “Bitcoin dominance is now comparable to where it was before there was even a developed market for Altcoins.”

Whereas, the Ethereum community are cheered by the news that the Ethereum network has processed the most activity since its launch.  Stellar ranking the tenth in the cryptocurrency market space has made strong gains over 10%.

Meanwhile, Deloitte is permitting their staff to buy lunch using BTC in an attempt to test its usefulness.

Deloitte’s are not prioritizing micropayments.  They are not even permitting their clients to purchase their services using the Bitcoin.

When it comes to micropayments, Bitcoin has been criticized for being very slow.  Therefore, it was not considered to be ideal to use Bitcoin to purchase either lunch or coffee. Most of the transactions were six blocks deep as the network tends to confirm them six times, which is too slow in terms of processing time. So, will the staff waiting to eat in Deloitte’s canteen be patient until the transaction is confirmed?

Marjory Lewis

Marjory is a science graduate with interest in new technological innovations. She has been attracted to blockchain from the very beginning and covers bitcoin and blockchain news for Bitcoin Journal.

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