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 compromised Red Cross account stated that Ripple CEO Brad Garlinghouse has initiated an XRP airdrop.
Recently, another news of a clone of XRP, called the RP Classic (XRPC), has grabbed the attention of several investors. Many crypto participants are not aware of the suspicious activities of the XRPC token.
The Ripple boss hinted some optimism, stating that there may finally be a resolution to its legal battle with the SEC.
Ripple can perhaps acquire Ledger Holdings Inc from FTX at a lower price to help in its XRPL development plan.
Despite the headwinds, Ripple has not stopped staying relevant in the blockchain ecosystem and has maintained a very healthy business outside of the United States.
Since its launch in 2018 as an ERC-20 token, Stably has raised the standards of transparency and interoperability in the stablecoin industry.
Ripple published a new whitepaper explaining how the UK can take a lead in establishing crypto standards making it one of the attractive centers for the crypto industry, such as Dubai, Singapore, and the EU.
Judge Torres is doing all she can to leave no stone unturned in the lawsuit that has spanned close to 2 years now.
There are twelve different independent organizations currently pledging legal backing for Ripple.
In its filing, Coinbase raised the question of enforcing orders without any solid rulemaking by the SEC and deemed it inappropriate to adjudicate on summary judgment.
The firm said it currently runs 4 out of more than 130 validator nodes operated by the XRP Ledger.
The Ripple team believes the Hinman documents will reveal the SEC’s double-handedness in dealing with the case.
Ripple revealed it now has the long-awaited Hinman documents containing a speech about ETH, as it looks to secure victory against the SEC.
Developers will now be able to test the implementation of Ethereum smart contracts on the XRPL blockchain with a very lower entry barrier.
Garlinghouse previously noted that most cryptos trading on exchanges in the US would be deemed securities if Ripple loses the case.