How Ripple (XRP) and Bitcoin benefit from the volatility crisis of the Turkish Lira

  How Ripple (XRP) and Bitcoin benefit from the collapse of the volatility of the Turkish lira
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The Balance of Crypto and the declining Lire

Turkey is in its second week of financial turmoil . The value of the Lira fell 25 percent last month and crashed significantly against the dollar in 24 hours. The turbulence is mainly due to the imposition of US sanctions and a new constitutional order that concentrates more power on the president.

In an attempt to balance the currency decline, the central bank, the finance ministry and the banking regulation and supervision of the country the agency has placed measures to limit swaps between the Lira and the foreign currency. In light of these developments, citizens are acting trying to protect themselves from problems with cryptocurrency.

@ C3_Nik, a popular Twitter user who regularly comments and follows the development in cryptographic space, noted that an encrypted exchange in Turkey, Sistemcooin, rose in the rankings regarding the volume of CRP. He tweeted:

Another question that arises from this situation is whether XRP could end up being a global currency. Currently, it has volume in relation to circulation to support global demand. Currently there are 39.299 billion outstanding XRPs and the total offer is 99.99 billion. Comparatively, there are $ 1.67 trillion in circulation, which means that each XRP should be $ 42. Another point is that Ripple has collaborated with over 50 global central banks, thus increasing the possibility that XRP can be used as a global currency.

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