Cryptocurrency: Can Ripple Will Rise?
Today we will talk about Ripple’s future. “Can Ripple will rise?” We have prepared this article to help you get the answer to the question.
Ripple is a cryptocurrency value (XRP) that emerged in 2012. Unlike many other cryptocurrencies, Ripple is a centralized cryptocurrency. Although they are traded on the blockchain system, all the traded ledgers are managed by the company. With Ripple, the goal is to transfer large amounts of assets and money quickly, reliably and cheaply, through the blockchain system.
Ripple is currently the six-most market capitalized cryptocurrency, after Bitcoin and Ethereum, among cryptocurrencies. The fact that it has a corporate center has made the value of Ripple crypto money a cryptocurrency and transfer system preferred by payment systems provider companies and banks.
What are the Advantages of Ripple?
- Ripple offers international shipping at very low costs and in a very short time thanks to blockchain technology in asset and money transfers.
- The fact that it is the third highest crypto currency with the highest market value and has a very high transaction volume causes it to be traded in many exchanges. This facilitates accessibility.
- Unlike decentralized cryptocurrencies like Bitcoin, the fact that its value depends on a profitable company is the most important factor that distinguishes Ripple from other cryptocurrency values.
- Continues to increase because of valuable agreements with major payment systems provider companies and banks.
The company produces all Ripple values in circulation. Although the total amount of Ripple produced is 100 billion units, the company has only released 40 billion Ripple to the market. Produced Ripple continues to be released regularly.
What Are the Differences Between Ripple and Bitcoin?
- The Bitcoin system is not related with any center, however Ripple is owned and controlled by a company.
- While 4 transactions can be made per second in Bitcoin transfer transactions, Ripple can perform 1500 transactions in one second.
- Ripple is a much more suitable method than Bitcoin in terms of commission fees for transfer transactions.
Ripple vs US Securities and Exchange Commission (SEC)
Both the Ripple side and the US Securities and Exchange Commission (SEC) side have long awaited yesterday’s lawsuit. As it is known, the SEC filed a lawsuit against Ripple in December with the allegation of selling illegal securities, and the tension has continued since then, it seems that it will continue for a while.
In this case, the SEC’s overseas requests for information were discussed. The SEC wants to reach out to Ripple’s offshore accounts and partners and request information from them. At this point, however, Ripple states that it must process the memorandum of understanding and that the SEC is displaying unfair competition.
According to this document shared on Twitter by company lawyer Jeremy Hogan, the lawyer claimed that the litigation process between the SEC and Ripple could conclude in November this year.
When will Ripple v. SEC case end?
Ripple thinks it will end sometime between Aug. 26 and Nov. 18.
In its pending class action, Ripple agreed to move the case start back to Nov. 18 in belief that the SEC case will be finished before then.
Of course, it can settle ANYTIME. pic.twitter.com/fVawdduiNs
— Jeremy Hogan (@attorneyjeremy1) March 6, 2022
According to the document, Ripple requested that the class action start date be postponed from August 26, 2022 to November 18, 2022. As stated in the document, it was requested that the class action be postponed to November 18, citing the overlapping of factual and legal issues between the class action and the SEC case. The request to postpone the start of the class action brought to mind the possibility that this date would be the date when the SEC case would be concluded.
Ripple also added that postponing the date when the class action will begin will reduce the burden on the court as the current problems decrease.
Commenting on the latest developments, lawyer Jeremy Hogan said that he believes the class action may also be dropped if Ripple wins the SEC case during September October.
How Much Ripple Will Be? Probably, Ripple will rise
We think Ripple will rise after this trial. It seems that the XRP price will rise again with the litigation process, but the fact that no decision has been made yet puts investors on hold. It is worth noting that the rumors of the IPO also had an impact on this watch.
In addition, the upward movement in the market after mid-March started to move the XRP price. If the general upward trend continues with the effect of broadcast news, the first target in XRP is around $2.
After the litigation process that will conclude this year, the price of Ripple is eagerly awaited. You can follow the developments on our website.
Can Ripple Will Rise on 2022? Predictions about the SEC lawsuit
The lawsuit between the SEC and Ripple has been commented on by many lawyers and cryptocurrency experts since its inception. In the final comments, experts continued to express their opinions about the end date and outcome of the case.
John Deaton, attorney for the class action lawsuit involving more than 65,000 XRP holders, estimated that with the SEC’s tactic of delaying the case, the process could be delayed until the end of 2023. However, after this forecast made in January, many new developments occurred.
Based on the available evidence, the court is expected to persuade the SEC to participate in a mediation where both parties can agree to the settlement, Judge Sarah Netburn said. According to other rumors, blockchain company Ripple has reached an agreement.
According to some news that came to the agenda last week, Ripple and the SEC agreed on a deal. So much so that Ripple CEO Brad Garlinghouse is said to have given a hint in his statements last week that an agreement was reached on the case.