The crypto sector has vast potential, and there is no doubt that Ripple is a major player. Despite its legal battle with the US Securities and Exchange Commission (SEC), Ripple is one of the most prominent assets in the ever-growing crypto market. So what do we need to know about Ripple and why is XRP still worth considering?
What Is Ripple?
Ripple is one of the leaders in the field that offers fast cross-border payments and unique services. It has attracted numerous businesses and financial institutions by providing novel tools, liquidity venues and even a platform for minting and managing Central Bank Digital Currencies (CBDCs). As Chris Larsen, Ripple’s Executive Chairman, said: “Ripple is working on a replacement for SWIFT and correspondent banking…” Note that Ripple’s native coin is XRP, which as of August 2022, is ranking #8 according to CoinMarketCap.
Ripple’s Legal Issues
Despite its potential, Ripple has a rugged path ahead. The US SEC filed a complaint that Ripple raised funds in an unregistered securities offering. Unfortunately, it was only until the actual lawsuit that Ripple was notified of the necessity to register and was dragged into what turned out to be a legal circus. Despite this, XRP continued to grow. In 2018, it even reached a record-high price of more than $3. Many experts believe that its value will increase once again in the years to come.
Ripple’s Role in Reshaping Crypto Regulations
The much-anticipated outcome of the lawsuit would settle some issues and concerns. It would be a landmark decision that would draw the line between crypto assets and financial securities. There are more questions than answers pending the decision of the court. An attack against one player may be seen as an attack against the crypto market. And interestingly, the market is not likely to bow down to the challenge. It is ready to take on this threat as an opportunity for improvement. There is a good chance that the legal battle will be able to shed light on crypto assets and crypto operations.
XRP | A Popular Asset Among Traders
While the future of cryptos can’t be predicted, it is a fact that many people are interested in XRP. With fast processing times (up to five seconds to complete), low transaction costs (an average of $0.0013927), and its popularity among financial giants, Ripple is undoubtedly here to stay. Those who want to buy XRP can easily do that. Platforms like Binance, Bitcoin Loophole, and Kraken can be a great start. That said, trading remains volatile and risky. One risks losing their investment.
Ripple is one of the most popular names in the crypto world. Despite its ups and downs, many investors and financial institutions are hopeful about its future.
In the end, we have to admit that Ripple and its fellow coins are here to create a different financial world where decentralization, transparency, and accessibility are on a pedestal. Will crypto replace other payment systems and even traditional banking? It’s yet to be seen! Till then, trade due diligence!