Crypto Xrp Ripple - Explained + Analysis
What is RIPPLE XRP?
Ripple is a technology that acts as both a cryptocurrency and a digital payment network for financial transactions. . Ripple is a very important project since it’s main process is a payment settlement asset exchange and remittance system, something similar to the SWIFT system for international money and security transfers, which is used by banks and financial middlemen dealing across currencies.
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Here are the most important things you should know about ripple before investing:
- Ripple is a blockchain-based digital payment network and protocol with its own cryptocurrency, XRP.
- It was first released in 2012 and was co-founded by Chris Larsen and Jed McCaleb
- Rather than using blockchain mining, Ripple uses a consensus mechanism, via a group of bank-owned servers, to confirm transactions.
-Ripple (XRP) ranks among the most valuable blockchain-based tokens by market capitalization. In the moment of writing this text Ripple is at 8th place among other cryptocurrencies based on market capitalization.
- Ripple transactions use less energy than bitcoin, are confirmed in seconds, and cost very little, whereas bitcoin transactions use more energy, take longer to confirm, and include higher transaction costs.
If we take a look at the coinmarketcap.com
XRP Ripple price is around $0.33 in the time of writing. With the market Cap of $16,428,712,533 and Fully Diluted Market Cap of $33,091,356,922.
Just a quick reminder: A fully diluted market cap is an estimate of what the market cap will be once all the tokens in a project are in circulation.
RIPPLE XRP Max Supply is 100,000,000,000 coins with the 50% that are circulating in the market and are in public hands already.
From All-Time High which was at Jan 04, 2018 (5 years ago) - $3.84 XRP RIPPLE COIN IS 91.39% discounted today.
More information about RIPPLE XRP you can find on their website https://xrpl.org/
The biggest question when it comes to RIPPLE today is whether should people invest since RIPPLE IS IN A LAWSUIT with the SEC.
The lawsuit, filed on 22 December 2020, alleges that Ripple raised over $1.3 billion through illegitimate means. The SEC complaint also holds accountable Christian Larsen, Ripple co-founder, and Bradley Garlinghouse, the current Ripple CEO, citing that they made significant gains in the process.
According to the document, the date for filing statements on undisputed facts and motion for summary judgment is September 13, 2022. The last date to file oppositions for the motions for summary judgment and responses is by October 18, 2022.
When talking about the latest XRP RIPPLE NEWS
CryptoLaw founder, John Deaton, believes the SEC would have been wrong if it had labeled ETH as security. The reason he gives is that ETH, like XRP, is an alphanumeric code.
The CryptoLaw founder is also of the opinion that cryptocurrencies like XRP, ETH, ALGO, ADA, XLM and others that have traded for 5 to 10 years should be treated as commodities, not securities.
If the SEC wins the case, Ripple will be considered a security rather than a currency in the US.
This could, in turn, set a legal precedent that results in similar cryptos being classified as securities as well. Therefore, the case against Ripple is important for all stakeholders within the crypto space, including investors, blockchain innovators, and lawmakers worldwide.
The price of XRP has remained stagnant in the past weeks amid the absence of rulings in the ongoing Ripple lawsuit.
XRP has been trading below $0.35 throughout the week as the entire cryptocurrency market is left at the mercy of the ongoing Federal Reserve tightening cycle.
To see XRP future price prediction for 2023-2025 and Ripple technical analysis, please watch our youtube video.
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Thank you for your time,
We wish you all the best in your ventures,
ADV Capital Academy Team
