XRP NEWS TODAY: XRP to $500 Blackout Incoming Prices NOT Moving? RIPPLE XRP Investors Prepare Now

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XRP was trading at $0.71452 by 16:54 (11:24 GMT) on the Investing.com Index on Sunday, down 10.18% on the day. It was the largest one-day percentage loss since Sunday, May 23, 2021. The move downwards pushed XRP’s market cap down to $33.17522B, or 2.34% of the total cryptocurrency market cap. At its highest, XRP’s market cap was $83.44071B. XRP had traded in a range of $0.71433 to $0.76393 in the previous twenty-four hours.

Banks that use it aren’t obligated to do so, and many don’t know due to the volatility. It was built with the intention of creating a better bitcoin with a more long-lasting and advanced consensus method for efficiently sending money. In 2011, three developers started working on a blockchain technology that didn’t rely on proof of work or mining to confirm transactions and didn’t have the same constraints. This technology was given the name XRP ledger and the money XRP was created subsequently. This is the general consensus on digital assets. When it comes to controversy, however, despite its large fan base, XRP is widely loathed by the community, and many users prefer not to invest in it.

Right now, the most major roadblock for Ripple and XRP is an ongoing SEC case. The SEC filed a lawsuit on Dec. 21, 2020, saying that Ripple marketed $1.3 billion in unregistered securities via its XRP cryptocurrency. It also claims that the SEC failed to provide adequate notice that selling XRP would be considered a security offering. The fact that Ripple has been in the market since 2013 raises a query in everyone’s mind. If XRP was security, why did it take the sec seven years to figure it out? With billions of XRP tokens already flowing through secondary crypto exchanges, the SEC waiting seven years to make this allegation was odd enough.

However, the complaint was submitted in the final hours of current Sec Chairman C\s tenure and then dumped on an evenly split commission as the next administration approached. As the barrage of papers heats up the case docket, it has become evident that the sec’s decision to sue Ripple was mistaken, and a succession of events in recent days have begun to make it look like a tragic blunder that the new chairman, Gary Gensler, will have to straighten out.
The sec most likely did not anticipate the maelstrom that Clayton’s initial act has created, and it has exposed the underlying flaw in the choice to suit. The charges by the US Securities and Exchange Commission that Ripple participated in an illegal securities offering are completely unfounded, according to Ripple CEO Brad Garlinghouse.

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