XRP News: What to Know Before Buying Ripple’s Lawsuit-Plagued Coin
The soon-to-be-infamous Ripple (CCC:XRP-USD) lawsuit continues to make news and bring attention to XRP that could pave a legal path for itself and other alt coins.
There are a number of ways the lawsuit could go, but most outcomes won’t single-handedly cause Ripple’s demise.
And if the Securities and Exchange Commission isn’t able to win the lawsuit for themselves, the crypto industry will breathe a sigh of relief.
That’s because, in one potential timeline, the conclusion of this scuffle between the SEC and Ripple could lead the former to “establish the scope of [their] authority in the digital assets space.”
Another potential outcome would leave XRP’s status as a security — or not — undetermined, but it would still prevent further cases like this one against other cryptos.
The lawsuit looks like it could be heading toward such a “lackluster” conclusion, which would work out to Ripple’s overall benefit, as previously mentioned.
But, there are still some important dates for the case spread throughout the rest of May and June. So, be sure to keep a watchful eye on Ripple over the next few days and weeks.
In the best case scenario for Ripple, they win the lawsuit and take a victory lap before rejoining the competitive crypto fray.
Life After the Lawsuit
Well, regardless of XRP’s status as either a security or utility, defeating the SEC is only half the battle.
Ripple also needs to continue to ensure their XRP token survives in this volatile crypto market.
While on the topic of XRP’s survival, let’s take a look at its main source of “competition” — Stellar (CCC:XLM-USD).
We are firm believers that — after the dust settles from the influx of unpredictable Elon tweets, country-specific regulation attempts and general uncertainty-fueled crypto emotionality — different blockchains will rise to the occasion to suit different needs.
Ripple and Stellar both have similar purposes and trajectories.
In fact, both share a common connection in Jed McCaleb, who co-founded Ripple before leaving to create Stellar.
The differences begin when we consider target audiences.
XLM targets individuals, with a focus on those seeking to pay others in different geospatial locations.
XRP partners with American Express, Bank of America, as well as other notable corporations all over the globe.
Apart from some technical and governance nuances, we believe betting on both could be a profitable long-term solid strategy.
Ripple is well-positioned to partner with large corporations to enable fast and efficient global money transfers.
Stellar focuses on empowering individuals but also has some smaller partnerships with fiat issuers around the world.
Both survived the 2017 crypto crash and appear to be thriving. They’re both well within the top 20 coins by market capitalization, as of today.
Alt Coins Like Ripple Are Here to Stay, So Buy Them “On Sale”
Alt coins are securing investor confidence as time goes on for a variety of reasons.
Some are “green.” Some are simply faster and more affordable than giants Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD).
XRP and XLM are green and fast and have plenty of room to expand in terms of both price and global adoption rate.
For example, XRP and XLM could both become their own respective versions of a “crypto Paypal” if they play their cards right — and if Ripple survives their lawsuit.
Similarly, Bitcoin has cemented its reputation as “digital gold.”
And really, blockchain technology doesn’t get much more boring, functionally, than simply storing value.
This is why we are extremely bullish on functional, innovative cryptos that push the envelope and work outside the boundaries of what traditional finance and technology dictate are possible.
So, while Ripple and Stellar blockchains serve a specific purpose, do their job well and could experience impressive gains in the future, they aren’t the only cryptos on our radar. And they aren’t our top picks either.
Our team has been researching day-in and day-out to determine the blockchain technologies with the greatest promise — the greatest potential upsides — and to bring you that information in our premiere, curated service — Innovation Investor. Over the coming weeks and months, we’ll begin introducing these cryptocurrencies within Innovation Investor, but you don’t have to wait to join…
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On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.
By uncovering early investments in hypergrowth industries, Luke Lango puts you on the ground-floor of world-changing megatrends. It’s the theme of his premiere technology-focused service, Innovation Investor. To see Luke’s entire lineup of innovative cutting-edge stocks, become a subscriber of Innovation Investor today.