Is Ripple (XRP) Dead? What is the Fate of Ripple? 

Ripple seems to be underpriced and below a dollar. Why is this the case? Why are banking partnerships not positively affecting the price of Ripple in crypto markets? Investors continue to ponder over these questions and many others about Ripple on online platforms that host crypto enthusiasts.

Ripple’s nearest attempt to reach the 1 USD mark was on April 25 when the digital coin was valued at 0.957 USD. This achievement was 0.043 USD shy of the 1 USD mark which would have confirmed that Ripple is headed for good times. The virtual currency hasn’t made a second attempt to break the 1 USD barrier and is trading at 0.81 USD and down by 1.79% as of press time.

SEE ALSO:   Ripple price predictions 2018: XRP/ Can Ripple end the year around $10 - Ripple News Today -Wed Jun 20

What’s Going on With Ripple?

Firstly, Ripple is presently under attack after a lawsuit claiming that the digital token is scamming people via a never-ending initial coin offering was filed. A class action lawsuit was initiated against Ripple on May 3 in California accusing Ripple of:

– Conducting an unregistered initial coin offering (offer and sale of securities) and violating some laws in the U.S Securities Act precisely sections 5 and 12(a)(1).

– Violating sections 25110 and 25503 of the California Corporations Code by carrying out an unregistered trade of securities.

– Violating section 15 of the United States Securities act.

– Engaged in actions that violate section 25504 of the California Corporations Code.

SEE ALSO:   Ripple Price Prediction 2018: Can the Partnership of Ripple (XRP) and J.P Morgan Push the Value of XRP to $5 This Year? (XRP News Today)

For the class action lawsuit to hold weight, Ripple has to be a Security.

What is a Security?

A security is an interchangeable, negotiable financial tool that holds some kind of monetary value. This tool represents an ownership post in a publicly traded corporation, the creditor relationship with a corporation or governmental body or rights to ownership as shown by an option.

This definition shows that Ripple isn’t traded publicly via stocks; thus the class action lawsuit doesn’t hold any weight.

 

 

 

 

 

loading...

Legal Disclaimer: The content of this website (smartereum.com) is intended to convey general information only. This website does not provide legal, investment, tax, etc advice. You should not treat any information on smartereum.com as a call to make any particular decision regarding cryptocurrency usage, legal matters, investments, taxes, cryptocurrency mining, exchange usage, wallet usage, initial coin offerings (ICO), etc. We strongly suggest seeking advice from your own financial, investment, tax, or legal adviser. Neither smartereum.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from smartereum.com.

SEE ALSO:   IOTA Tangle Update: The Tangle System of IOTA (MIOTA) Will Now Be Used For Digital IDs

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get Smart About Crypto!


Promise we won’t spam you!

We Are Hiring

Click here if you would like to join one of the fastest growing blockchain news companies in the world!