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In the Ripple to EUR pair, XRP is the base currency and the EUR is the counter currency, which means the XRP/EUR chart shows how much Ripple is worth measured against the euro.
The Euro Is the official currency of the European Union. It has been adopted by 19 of the 28 Member States, who are thus part of the Eurozone. It is currently the second most influential currency in the world, representing about 21% of international foreign currency reserves held by central banks.
The value of the euro is directly affected by the European Central Bank’s policy and decisions regarding the interest rate. Outstanding political events, GDP and inflation numbers, economic growth forecasts could also affect the value of the euro.
Those, interested in the XRP/EUR pair trading, should keep a close watch of crypto market news as well as major political and economic events in the Eurozone.
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