The platform has continued to make attention-grabbing headlines through significant price developments and the discussion regarding its status as a security. These developments include, the launch of SBI virtual currencies exchange to millions in donations being made in Ripple to universities and a lawsuit filed by Investor Vladi Zakinov claiming that the platform is a security.
Many seasoned traders would never invest in the platform, and this is for a good reason. Since it works to partner with banking institutions in the world, investors think of it as a centralized coin that uses the term blockchain to gain traction from already existing digital solutions. However, this cannot be further from the truth. Ripple and Ripple (XRP) are two separate entities. Ripple is the company that came up with Ripple (XRP) a distributed ledger that is completely independent.
Perhaps this is the main reason why investors seek to file lawsuits claiming the platform is a security. For instance, Vladi Zakinov submitted a complaint to the superior court of California in the San Mateo County. His complaint is centered on the argument that XRP is a security controlled by Ripple. Further, the lawsuit claimed that the platform was required to register XRP when selling it and that they made a serious improper statement which drove up the coin’s price.
Additionally, the attention-grabbing headlines include their philanthropic developments. In addition to the $29 million donations to Donor’s Choose, the company recently donated $4 million, denominated in Rwandan Francs to Ellen Degeneres’ wildlife charity. Also, they committed about $50 million to a university blockchain research initiative that will boost research and innovation at 17 global universities.
As the coin’s adoption increases, the CEO Garlinghouse believes that Ripple is going to overtake bitcoin in the future as it is not adapted for that huge number of users that it is attracting now.
With the recent positive developments, do you think Ripple is well Prepared to overtake bitcoin in future?
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