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Ripple is making good progress in litigation against US Securities and Exchange Commissioners



The US Securities and Exchange Commission initiated proceedings against Ripple Labs, CEO Brad Garlinghouse and co-founder Chris Larsen in December 2020. The SEC claims that Ripple sold $ 1.3 billion in cryptocurrencies in undisclosed securities of its XRP tokens. Ripple executives have denied the allegations. The company argued that XRP operates as a digital agency.

What is Ripple?

Ripple is a money transfer network with an instant settlement system. It is also one of the most popular crypto exchanges in the world. It was launched in 2012.

XRP is the native token in the Ripple network. The purpose of XRP is to provide an intermediate mechanism for sharing. The transactions are faster and cheaper than with Bitcoin.

Ripple works relentlessly to bring new parties into its network. Ripple markets other products that use XRP for cross-border payments. For example, the so-called on-demand liquidity.

Brad Dougan, the former CEO of Credit Suisse, stated that regulation is an important factor for crypto. He expects to grow over time. It is a market that is still in the early stages of development.

Authorities around the world are taking a closer look at cryptocurrencies. It's a huge market that isn't regulated but has exploded over the last year.

In the current market, XRP is trending in a good direction. The average prediction is a price tag of over $ 3, which would mean huge growth if it became a reality.

Could Ripple win the case against the SEC?

Crypto enthusiasts are eagerly awaiting updates on the SEC versus Ripple case. Experts believe Ripple will win the lawsuit, which could give XRP a boost. A loss to the SEC, on the other hand, could mean a revolution in the crypto industry.

The company claims it sees "good progress" in this legal scramble. Garlinghouse told CNBC the judge was asking good questions. He believes the judge has realized that this is not just about Ripple, it can have bigger implications.

Garlinghouse hopes the case will be closed next year. If Ripple wins, the XRP price will most likely go up.

Why is XRP so popular?

XRP has very low transaction fees. The cost of completing a transaction is 0.0001 XRP. Ripple also has a versatile transaction network that is also used for other currencies and commodities.

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