Ripple is among the top-rated crypto assets that have not yet opened up its full potential because of legal issues with the SEC. Judicial proceedings between Ripple and SEC have been lasting since December 2020. The essence is SEC’s demand to confess cryptocurrency Ripple XRP as a security. Ripple, in turn, denies that.
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Moving away from the legal issues, let’s see what is good in the Ripple project and its prospects, taking into account legal proceedings with SEC.
What is XRP?
XRP is the token of the RippleLab platform. The token is traded on all popular crypto platforms. As of mid-October, the XRP USDT pair is traded at 0.45, that is, roughly speaking, one Ripple coin costs 0.45 dollars. Pretty low price as for one of the top crypto assets, is not it?
The company ensures efficient and fast money transfers worldwide, where the XRP token plays the role of intermediary between other currencies. The Ripple platform takes the process of money transfers to a new quality level. Ripple system offers the following advantages compared to traditional banks:
- Quick and efficient money transfers worldwide
- Low fees
- High level of safety
- No middlemen, no delays.
Many financial establishments worldwide have already implemented the Ripple technology into their work processes and successfully offer high-level services to their clients. Ripple has over 200 partners worldwide.
However, because of issues with SEC, Ripple cannot develop at full scale. That is also why the XRP price has not shown any increases in the last years.
Ripple Price Prediction
In the middle of October 2022, we can see the Ripple XRP price went down compared with the price at the beginning of the year.
Experts believe the XRP rate will reach 1 dollar in 2023. If the project solves all the issues with SEC, it has all the changes to boost and expand its application scope, for it would really bring so many benefits to the world’s financial system.
So it would be a good idea to buy Ripple cryptocurrency now as its price is low and hold it in the long term until the projects finally start developing fully.
Readers should exercise caution and conduct their own research before making any investment decisions based on the information provided in this article.