Ripple
Ripple’s Blockchain and Cryptocurrency XRP promises to provide
smooth and seamless payment settlement, asset exchange and
remittance systems for cross border transactions. This works to allow
users to be able to complete fast, direct and secure transactions on
the web.To express the primary purpose of the technology simply, it
was primarily created for banks and payment settlement, a money
transfer system and currency exchange.
SEC LAWSUIT
In December 2020, regulatory uncertainties surfaced regarding
Ripple. A complaint was filed by the United States Securities and
Exchange Commission (SEC), due to Ripple’s action or at least they
are attempting to define Ripple’s move of selling XRP to investors in
the U.S. and the global public falls under the category of being an
unregistered securities sale that garnered over $1.3 Billion.The
issue puts the blockchain technology and the cryptocurrency market
under a spotlight. This industry is fairly new and the innovative
technology and usage of it is still being understood by the masses.
Due to this there are no regulatory laws in place to Govern it. The
outcome of this case will determine and mold the future of
cryptocurrency and the blockchain industry as well as make more
people who were skeptical comfortable with making purchases
within this market. As of October 2021 the case is still being
decided.
CONCLUSION
XRP is very popular among the current cryptocurrency market.
Holders of the digital currency proclaim that Ripple has made many
pivotal partnerships with major banks, and big corporations that are
anchored in the money transfer business, therefore solidifying it as a
mainstay in the industry. Many predict and proclaim that the
cryptocurrency price will only skyrocket because of this and once the
SEC case is decided (if it is in Ripple’s favor) the Token will shoot to
the moon. Personally I do not hold any XRP and time will tell if the
XRP communities boast about Ripple’s business dealings will truly
create an unbreakable and unbeatable position at the top for the
XRP token. I do believe ( in my opinion, this is not financial advice)
that XRP will play a pivotal part if not a dominant part of the
unification of world currency based upon information I have observed
thus far.