A Puerto Rico-based company dubbed Bitcoin Manipulation Abatement LLC has filed this recent lawsuit accusing Ripple of misleading investors of financial gains making false claims and driving false demand. The plaintiff argues that XRP isn’t a currency.
In a controversial step, the Ripple co-founder sold an average of 1.8 million XRP tokens for each day of April 2020. Since McCaleb is the co-founder of Stellar, a direct competitor to Ripple, it has also created suspicion of his support to Ripple Labs.
On April 30, Ripple published the Q1 XRP Markets report to update the public on the company’s views on the state of the XRP market.
The cryptocurrency market has regained over 100% from the March 12 flash crash leaving the stock markets far behind after they gained 36%. The majority of coins are in the green now.
Ripple’s arm Xpring has brought another glory to the crypto ecosystem as it is classified among the top ideas changing the world to a better place. Meanwhile, XRP price is 8% up.
Ripple said that it had reached out to YouTube for several times making them aware of the “fake giveaways” done on their platform using the Ripple trademark. Now it accuses the Google-owned video streaming giant of not taking sufficient action.
It is expected that in the next 2 months, XRP price may increase by 30%. Today XRP is trading at $0.19, having lost 1.80% within 24 hours.
The 3rd largest crypto coin on the market today, XRP, has been added to Bitcasino.
Ripple’s XRP Ledger is all set to get new improvements and features in the upcoming updates scheduled ahead this week on Wednesday. These features will add additional support to the XRP protocol.
Ripple and XRP are in the spotlight once again after the news that the U.S. Navy is hiring a firm to create implantable microchips that would be compatible with Ripple’s blockchain.
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.