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The coin’s value rose from $1.98 to a high of $2.46, amid news that Ripple’s highly-anticipated stablecoin, which has been in development since April, is preparing to debut.
A federal judge sided with the U.S. Securities and Exchange Commission in a closely watched crypto case on Thursday, ruling that four crypto tokens offered by the failed Terraform Labs company ...
In 2020, the U.S. Securities and Exchange Commission (SEC) sued a company called Ripple, alleging it was in breach of the law for the way it issued its XRP (CRYPTO: XRP) cryptocurrency. XRP has a ...
Since its founding in 2012, Ripple has been one of the most prominent crypto firms, with its XRP token long occupying one of the top positions in the list of cryptocurrencies by market cap.
XRP's main target, banks, primarily use a settlement network called the Society for Worldwide Interbank Financial Telecommunication (SWIFT). Sending money between banks domestically or across ...
The XRP Ledger operates on a consensus protocol that differs from traditional proof-of-work (PoW) and proof-of-stake (PoS) mechanisms. [ 8 ] [ 3 ] Transactions are validated by a network of independent validators who reach consensus every 3 to 5 seconds, enabling rapid transaction settlement. [ 8 ]
The defendants agreed to turn over all data involving XRP transactions. [30] In July 2023, the district court ruled on the SEC lawsuit, finding that the XRP token sold by Ripple Labs was not a security. However, if sold in institutional sales, or used as a fundraiser, such actions could be classified as a security in those circumstances.
XRP has struggled after the Securities and Exchange Commission appealed a U.S. District Court ruling in favor of XRP in a prior lawsuit.