Ripple token XRP has been thriving ever since its inception, giving massive gains to the investors.
The CEO of the company Brad Garlinghouse is highly optimistic about the token’s success and growth even in unanticipated situations like being declared as a security in the United States.
Garlinghouse appeared on a Podcast named Pomp in which he expressed his views about the various aspects of the Ripple platform and its native XRP token. He ardently talked about the multiple consequences incase the US SEC consolidates XRP as a security.
He said that it is difficult to happen; however, if that happens, the XRP token would still be successful as 90 percent of the RippleNet customers are not from within the United States. Stating the same, he fostered that XRP being designated as Security would not hamper the company’s businesses, thus leaving Ripple unharmed.
Lawsuits Around Regulations
Most recently, there has been quite a furor in the cryptocurrency circuits regarding the regulatory status of the Ripple token XRP. A leading chart analyst Peter Brandt called out XRP as a security in the United States, highlighting that it should fall under the regulations by the US SEC. He made several tweets on the matter, arguing that XRP should be declared as Security if the SEC understands cryptos. There have been several lawsuits in the past accusing XRP as an unregistered security. Several lawsuits and controversies mounting around the XRP token have baffled the investors, who were further disgruntled by the allegations of unfair competition charges.
XRP has been rallying up to 91 percent in the last one month as it strived to catch up with top cryptocurrencies, Ethereum and Bitcoin. Unique addresses, buybacks by the parent company Ripple and a new product on the charts are considered some of the most glaring factors contributing to the growth of XRP.
Paystring, a new product, is on the cards from Ripple Labs, which would provide solutions for electronic payments solutions for sending and receiving funds. The company bought back XRPs in an attempt to maintain Ripple Network health, and there is a massive increase in Unique Addresses. all skyrocketing XRP price.
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