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.
Ripple’s partnership with Colombia’s central bank is another step towards its vision of “enabling the Internet of Value”.
The release of the Hinman documents comes amid rising legal pressure on Binance and Coinbase.
The US SEC has mysteriously deleted Hinman’s biography from its website ahead of the court’s imminent order to disclose unredacted emails from Hinman’s communications.
XRP’s lawyer thinks the outcome could be determined by September based on recent events. In light of this, Ripple is allegedly meeting with investors to discuss their interest in an IPO.
Similar to other phishing websites, the website for the LAW token asked users to connect their wallets. There haven’t been any reports of users falling victim to this scam or losing funds.
XRP price gained more than 34% YTD to trade around $0.45 as Ripple widens its portfolio in Europe.
Brad Garlinghouse said that many other jurisdictions have done a better job than the US in providing clarity to crypto players.
Observers believe Wednesday’s XRP price pump indicates that Ripple has the upper hand in its ongoing litigation with the SEC.
Ripple is opening an office in the heart of Dubai International Financial Centre (DIFC) and acquiring Swell Global 2023.
Garlinghouse expects the Judge to issue a summary ruling on the SEC vs Ripple case before the end of this year.
Ripple explained its current effort is to achieve carbon net zero by or before 2030.
The Ripple team is optimistic about a massive triumph over the SEC, despite the regulator’s victory in the LBRY case.
Following the announcement, among other fundamental factors, Ripple-backed XRP spiked over 20 percent in the last 24 hours to trade around $0.46.
Ripple coin XRP recently hit $20 billion due to the broader crypto market upswing from the banking crisis.
The Ripple chief had already earlier specified that the lawsuit with the SEC would reach a resolution in the first half of 2023.