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 deceptive video, featuring a voice closely resembling Garlinghouse’s, falsely presents an XRP giveaway, asking them to transfer a minimum of 1000 XRP.
For several hours, the iShares XRP Trust appeared on the ICIS Delaware website suggesting that BlackRock had filed to list an XRP ETF, which was confirmed to be fake.
The price of XRP is responding positively to Ripple sealing agreements to several institutions who need varying services from the firm.
With the current positive news surrounding XRP, the prevailing sentiment, and the increased participation of crypto whales, it is expected that the price will continue to rise.
Deaton’s perspective aligns with the prevailing sentiment in the cryptocurrency community, which generally regards the proposed $20 million settlement as a favorable resolution for Ripple.
Ripple CEO Brad Garlinghouse reminds how Jay Clayton has pushed the case against Ripple while exposing his hypocrisy against the recent SEC actions.
The collaboration with Uphold comes shortly after Ripple celebrated a recent triumph in its ongoing legal battle with the US SEC.
Morgan asserts that XRP sales fail to meet at least two of Howey test prongs, making the SEC’s case weak. With the facts apparently not aligning with the Howey framework, he sees little room for the SEC to overturn the earlier judgment.
The US SEC moves on the backfoot as Ripple registers yet another victory in their legal battle.
The situation first arose when BitPay posted a tweet stating that Ripple (XRP) could now be used to buy items in games that use BitPay, including Roblox and Smite.
While it is unclear if Campbell’s departure is related to the continued battle between Ripple and the United States, there are no indications of such.
Per Hogan, considering where the case currently stands, only two outcomes are possible going forward.
This ruling marked a crucial victory for Ripple, instantly boosting XRP’s price by almost 5%. When Ripple achieved its first victory, although a partial one, in July, the price of XRP spiked from $0.46 to $0.93 in just 10 hours, a stunning 100%+ increase.
For reasons best known to Ripple and CEO Garlinghouse, the deal to acquire Fortress Trust is now off despite enthusiasm shown weeks ago.
Ripple’s expansion plans come months after its partial victory in its ongoing legal battle with the US SEC.