Ah $XRP one of the wildest stories in crypto really. From it's release back in 2012 it was looked at as one of the biggest innovations and top supported blockchains. I even question if Ethereum would be where it's at if XRP didn't go through all of these battles.
XRP has a serious run in the 2018 bull run but quickly started to come under attack from the SEC as one of the first targets. The big things going for this token right now is winning a multi year battle with the SEC, launching a stable coin and also dropping money into congress to sway votes lol yep as illegal as that's suppose to be it happens and it happens a little bit too often IMO.
XRP was built to mainly focus towards banks creating a feeless or low fees fast system for banks and other large transactions to happen around the world. It was setup to use Ripple, XRP Ledger and the XRP token. I still remember the ripple days lol.
Ripple is the company which we most likely will only bring up a little bit in the future. Mainly we are going to talk about XRP the token and get a little more of insight on to it and if this tokens actully going to now become a big thing or not.
As we can see XRP has been in for one crazy of a wild ride. But it's only recently that it shot up to crazy high levels only and still holds a rather impressive rally amount.
So what's next for this token and the blockchain?
XRP recently won a lawsuit that stated that the tokens XRP sold to retail investors did not constitute as a securities transaction.
This has now opened up Ripple to be able to start to really move on the projects it had its hands tied of for years. The first of which is the release of their stable coin token called RLUSD aka Real USD. This stable coin is said to be fully backed 1:1 by the fiat equivalent. This is supported with their work with NYDFS which is a New York company that has the most stringent workings in terms of a company having to be compliant. That means your stable coin really should be backed up 1:1 unlike a lot of these other places.
This move will now put it on the same playing field if not even better to others like USDC which is CoinBase's stable coin and Tether. The big plus for Ripple however or the stable coin for it is that it has full regulatory oversight which should boost confidence in the token compared to places like Tether that continue to not do their audit reports.
What we are also starting to see now is that XRP is now starting to get filings reported for them to start up spot XRP ETFs much like we currently have Bitcoin and Ethereum. This could very well put XRP out as the 3rd crypto asset to get a ETF before any of the others. However, we should also be well aware that a ETF listing doesn't always mean large injections of money. Bitcoin under performed and Ethereum even worse. But what it does do is opens the token up to faster and more money to be injected into it at a easier rate.
Ripple the company behind XRP seems to be heavily in line with partnering with banks which would open the token up to be the first real regulated and watched crypto that banks might actully end up adopting into their system. Just like banks are middle men for us banks also have middle men between banks which are slow and cost the banks money. XRP looks to remove this and capitalize on it allowing banks to move funds faster and earn on those funds faster.
Right now this is all speculation and possible options for XRP being adopted into the system. They are mainly trying to buddy up by issuing out large donations to people in power. It just blows my mind because we all know this stuff goes on all the time in government but it's never so front and center and that's mainly because its considered bribery or something illegal.
XRP could be a good investment in terms of being a proxy for a ground floor network if it gets adopted. It's a interesting way of looking at things.
What are you thoughts on XRP?
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did this xrp start with 1.1 in 2012? I guess it's a stable coin like usdt, I dont usually use it though but if it's something that is stable then I might give It a try
We will see what happens, I have some to hold for a bit.🤑
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