The cryptocurrency market is flying this morning, with most posting strong gains mid-week.
Ripple rose 4.84 percent this morning to trade at $0.918 a of 12:30pm.
The market is seeing a big bump this week, with Bitcoin trading at $9,316, Ethereum at $690 and Litecoin going for $161. Bitcoin Cash is trading at $1,512.
The cryptocurrency market appears to have survived a difficult Q1 which saw 50 percent total market cap being wiped off.
Is Ripple going to be worth a dollar again?
The likelihood of Ripple hitting a dollar back in March seemed bleak.
The entire cryptocurrency market suffered a difficult winter, losing half its market value in three months.
The dreary outlook appears to have been reversed as prices soar, and XRP inches closer to a dollar value again.
Ripple has a not-insignificant mountain to climb in order to reach $1, but current bullish trends suggest it could happen soon.
XRP has long stated that $3 is the intended target value.
$3 makes it a more affordable option for new investors, while also making it a simple conversion option for everyday purchases.
That goal seems achievable with the wealth of positive news surrounding XRP.
Santander will be entering the finch market in the form of Open Pay FX.
The service guarantees same day settlement in the countries of Spain, UK, Brazil and Poland. Expansion of the service to other jurisdictions is being worked on by the Santander group.
They are also working on almost-instant settlements based on the 3.3 Ripple transaction speeds.
Also, rumours of a Santander mobile App that does the same, are rife in the Ripple community.
The only negative that could potentially damage Ripple is its ties to securities.
Gary Gentler, the former chairman of the Commodity Futures Trading Commission (CTFC), said that both Ethereum and Ripple, could be classed as securities, bringing them closer to potential regulation.
Bitcoin, Litecoin and Bitcoin Cash probably wouldn’t be classified as securities, which are regulated in the U.S. by the Securities and Exchange Commission, Gensler, who is now a senior lecturer at the Massachusetts Institute of Technology, said during a blockchain conference at MIT on Monday. The CFTC has called Bitcoin a commodity.
Gentler said: “Ether and Ripple are like securities in that a common enterprise is behind the asset.”
For Ripple, that would be Ripple Labs.
If Ripple is recognised as a security, over a commodity, it could potentially lead to court appearances to design regulation.
Ripple has been unable to shake this connection, but prices have been rising in the face of adversity, and look set to continue doing so.