Meanwhile, XRP continues to chew through vast sums of cash to defend itself against the SEC. According to executives from Ripple Labs, the total legal cost of defending itself against the SEC could top $200 million. That’s money that should have gone into the development of the Ripple network, which is the blockchain-based payment platform powered by the XRP crypto token.

However, despite remaining relatively decentralized, XRP Ledger’s use of trusted validators takes away from the trustlessness inherent in many other cryptocurrency projects. While these financial service providers, especially credit card companies, advertise instant transactions, these transactions are only reflected instantly. However, other analysts are sure that the American bank will simply not engage in cryptocurrency business – banks do not need a blockchain at all, since decentralization is not needed. Bitcoin price sustained nearly 3% weekly gains as price steadied above the $42,500 level on Wednesday.

The most important XRP milestones

In this way, Ripple guarantees to investors that the sale of XRP will occur gradually over time. So, you should not count on the rapid growth of the Ripple network. The company, most likely, realistically evaluates its capabilities and expects normal consistent growth. For this, new banks and financial organizations will be involved in the XRP network. Therefore, the XRP rate is unlikely to change much in the near future.

If in the near future other networks that provide banks with effective mechanisms for cross-border payments will actively develop, then Ripple’s positions will inevitably wobble, which will affect the XRP rate. At the same time, today you can buy XRP without any problems and use this digital currency for auto trading on any suitable exchange. Please do your own study before making the decision on buying or selling any cryptocurrencies or any related investments. The bitcoin price has surged this year, pushing up the price of ethereum, BNB, XRP, solana, and … Bitcoin
and major cryptocurrencies—including ethereum, BNB
and solana—have rocketed higher amid expectations of a 2024 «Biden bailout.» While frameworks addressing AML and CFT issues are necessary, punitive requirements and SEC oversight could materially impact the US digital asset space.

Why are XRP coins valuable?

The Stellar network is still at it’s starting stages, there is lots of potential for growth! The Stellar developers are continuously working to improve their network which is why it has lots of potential for the future. The fact that you can have US dollars, Chinese Yuan, Euro means that it has lots of room for growth as you can have real money not just crypto…..

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As new transactions come in, the validators update their ledgers every three to five seconds and make sure they match the other ledgers. This allows the network to securely and efficiently validate transactions, which gives it an edge over other cryptocurrencies like Bitcoin. Notably, XRP’s blockchain operates a little differently than most other cryptos. Other cryptocurrencies open their transaction ledgers and verification processes to anyone who can solve complex equations quickly.

Euro Area Sees Surging Current Account Surplus

However, the judge did also rule that the initial sale of XRP still violated federal securities laws. On top of all that, say XRP backers, there might even be an IPO for Ripple Labs. Any new capital infusion from the IPO would trigger further growth in the XRP ecosystem, which in turn could bring a sky-high valuation for the XRP crypto token. For one brief moment this summer, it looked like XRP (XRP 1.96%) was about to go parabolic.

Changelly, a popular cryptocurrency exchange platform, offers users real-time interactive charts for the XRP price. These dynamic charts provide traders with accurate and up-to-date data on XRP price fluctuations, enabling them to make informed decisions. The live XRP price matters because it helps traders and investors stay updated on the current value of XRP. It provides real-time information for better accuracy when making decisions about buying or selling XRP. The price fluctuations can reveal market trends and potential trading opportunities.

The SEC claims that the majority of crypto assets are securities and thus subject to strict regulation. While defendants can use parts of Ripple’s ruling in their favor, the SEC can also find reasons in it to keep its current strategy of regulation by enforcement. Securities and Exchange Commission charged Ripple with selling unregistered securities in the form of XRP on cryptocurrency exchanges. After years of litigation, on July 13 a federal judge handed the company a partial victory by ruling that XRP sales on public crypto exchanges were not offers of securities under the law.