Ripple (XRP) is one of the most important cryptocurrencies in the digital industry, but its popularity is waning. Recent negative XRP news is putting the digital currency at risk. The SEC claims the tokens are unregistered securities and the parent company broke the law by offering them to US investors. What should you do if you find a news story about XRP that does not make sense?
The company behind XRP has been battling the U.S. government in a lawsuit. The SEC says that XRP is a security, but Ripple’s executives are fighting the lawsuit. The broader crypto market has also fallen back from its early November highs. The news from the SEC is a cause for concern for investors, as it could affect the future of the cryptocurrency. As long as it is not ruled a security, investors are cautiously buying it.
In the first half of December, XRP started trading near the $1 mark, and then plunged from a two-month high of $1.35 to $0.6145 on 4 December. This came as the broader cryptocurrency markets retreated from their early-November highs. In the meantime, Ripple has a major legal battle brewing. The case is far from over, and it could ultimately determine the future of the cryptocurrency and blockchain industry.
In a recent article, Alex Saunders, CEO of Nugge tNews AU, called for XRP News to reach thirty cents per token in 2019.
Then, it fell back to ten cents. This case could define the future of bitcoin and the blockchain industry as a whole. The SEC sued Ripple in December, accusing the company of raising $1.3 billion in unregistered digital-asset securities. The SEC argues that XRP is not a currency, but instead a security.
Despite the recent regulatory challenges, Ripple continues to perform well. The cryptocurrency’s price immediately climbed to a $1 mark after the SEC refused to release its documents. The recent XRP news has shown that despite the regulatory setbacks, the cryptocurrency remains bullish in the long run. Currently, XRP is trading for 90 cents. A few other news stories have sparked interest in the cryptocurrency.
In November, Ripple announced deals with the governments of Bhutan and Palau.
Earlier this year, the company projected that XRP would reach $5 per unit in 2022. During the same month, CoinCodex released technical analysis of XRP. Using the trend lines, a bullish signal was found in the last week. This was a positive signal, and the XRP price has risen to $0.77.
Meanwhile, Ripple has been facing legal issues with the SEC. Its XRP is considered a security, and the SEC has sued it to make it a “security.” However, the SEC does not consider the XRP to be a security, and it is not a currency. Therefore, it does not have a monetary value, so it is not worth investing in it. Despite the risks, the XRP price has been rising steadily since mid-2018.
In November, Ripple announced that it has made deals with the governments of Bhutan and Palau. The company also predicted that the XRP price will hit $5 per unit in 2022. In January, CoinCodex released technical analysis for XRP. In this report, the XRP price rose to $0.77, a new record high. This news has caused a huge uproar in the cryptocurrency industry, but it remains a relatively safe bet.
XRP is a unique currency in the crypto ecosystem.
Its infrastructure and low cost have allowed it to attract financial institutions around the world. Though it fell behind major altcoins in 2021, the currency has gained full support from large investors over the past 12 months. It has already been up to 30% in the last few days, and it is expected to reach $5 in 2022. This is a record high.
XRP is a highly diverse cryptocurrency. Its community is the most diverse and oldest in the industry. The SEC has a lawsuit against Ripple, which could push the price to higher levels. In the meantime, the price of XRP could rise as high as $12 in 2021. But there is also a lot of XRP news on the market. Hopefully, this settlement will bring relief to Ripple’s investors.