Ripple token or XRP is an independent digital asset, native to the Ripple Consensus Ledger. Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native currency (XRP).
Released in 2012, Ripple purports to enable “secure, instant and nearly free global financial transactions of any size with no chargebacks.” It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes. At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process.
The move has not only stirred speculation about the ongoing case but also the future price trajectory of the cryptocurrency.
A recent report regarding XRPL 2024’s first quarter performance revealed that the number of active users surged by 37%, and the number of transactions increased likewise by 113%.
Based on Jason Pizzino’s analysis, the top altcoin performers included Solana (SOL) with a notable surge of 180%, indicating strong growth momentum.
Garlinghouse revealed in the post that the artwork had been hanging on his wall for a while, and due to the market’s momentum, he felt like sharing it.
The renowned XRP whale has dumped 50.78 million XRP in the wake of the FIT21 bill’s passing into law.
Earlier, Ripple filed a motion to have the court redact evidence related to the remedies briefing that SEC filed on March 22.
The legal battle between the SEC and Ripple is approaching its final stages. Both sides have presented their final arguments concerning the remedies.
Ripple claims that publicly sharing documents outlining potential solutions and penalties could be harmful.
XRP price, which had already been showing signs of a pullback in the last seven days, experienced a further decline to dip below the $0.5 threshold.
SBI VC Trade aims to directly engage with the XRP Ledger, facilitating smoother transactions for its customers while actively contributing to the network’s growth by taking up the role of a validator.
The DeRec Alliance now has Ripple and XRPL Labs as founding members, as they develop a protocol for easy asset recovery.
The SEC says Ripple’s intention to issue a stablecoin, an unregistered asset, is further proof that it will continue to break the law.
The SEC’s lawsuit has influenced the trajectory of XRP price. The ongoing legal saga prevented a sustained rally and kept XRP on a downward trend from its 2021 peak of nearly $2.
With talks with investors continuing and Ripple valued at an astounding $11 billion, expectations for the company’s future IPO plans are growing.
Ripple has allegedly moved all US ODL customers from using XRP as the bridge currency, to USDT, in compliance with a 2023 court ruling.