Ripple (XRP): 14 Things to Know About the Ripple Lawsuit as XRP Plunges

Ripple (CCC: XRP) will be beaten on Wednesday after it was revealed the SEC is suing the US Securities and Exchange Commission.
a wave coin
Source: Shutterstock
Scroll to continue with the content
Microsoft - New Age of Business
E-book: Cloud everywhere with Azure Arc
Learn how Azure Arc enables security and innovation in hybrid environments with built-in resiliency to avoid costly business disruptions.
Here's everything investors need to know about the Ripple lawsuit.
The SEC is pursuing the company for allegedly offering securities in lieu of cryptocurrency.
So it has Ripple and its CEO Brad Garlinghouse and co-founder Chris Larsen in their sights.
The SEC argues that XRP should be treated the same way as shares in a public company.
Ripple argues against this claim by stating that XRP has been identified as a currency in the past.
This shows that it is not subject to the same rules that a security must comply with.
The company toyed with the idea of ​​moving its headquarters overseas.
This would be done to avoid further regulatory problems in the US.
7 undervalued stocks that could rise in 2021
XRP is a cryptocurrency in the same way as Bitcoin (CCC: BTC) or Ethereum (CCC: ETC).
One key difference, however, is that Ripple sells it in segments at specific times.
This is very different from the typical mining method that other cryptocurrencies use.
Ripple has also looked for ways to attract new users, such as: B. Airdrops via Flare Network.
This also serves to further decentralize the cryptocurrency and eliminate the middleman.
The bad news for Ripple comes when cryptocurrencies get extra attention.
This includes making all-time highs in Bitcoin and submitting Coinbase crypto exchanges for an IPO.
The XRP fell 31.9% on Wednesday morning.
InvestorPlace - Stock market news, stock advice and trading tips
At the time of publication, William White held positions (neither directly nor indirectly) in any of the securities referred to in this article.
More from InvestorPlace
Why everyone is investing in 5G WRONG
Top Stock Picker Reveals Its Next 1,000% Winner
Radical new battery could degrade oil markets
The post Ripple (XRP): 14 Things You Should Know About the Ripple Process when XRP Plunges first appeared on InvestorPlace.
In this article
+ 9.00%
+ 3.38%
+ 2.91%
+ 2.52%

You should check here to buy the best price guaranteed products.

Last News

Former Mississippi lawmaker found shot to death outside home where her sister-in-law's body was discovered

Republicans just killed outdoor dining in Pennsylvania

Dad-to-be’s epic reaction to his baby’s gender reveal has TikTok cracking up

Kylie Jenner and Travis Scott Do Date Night in Epic Style

Biden bristles at Fox News reporter's question on China

Bringing Up Bates' Josie Bates Welcomes Second Baby Girl Hazel Sloane with Husband Kelton Balka