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Ripple (XRP) is a cryptocurrency solution meant to help banks use the blockchain more effectively. Ripple (XRP) is meant to help institutions switch from central databases to more open systems and save money. Ripple (XRP) came out in 2012 and did pretty well until the case with the SEC.
The SEC sued Ripple Labs, its current CEO, Brad Garlinghouse, and its former CEO, Chris Larsen, in December 2020, saying that the company's cryptocurrency, Ripple (XRP), is a security asset because it was used to raise money in 2013. The case is a bit unusual in that an SEC lawsuit is going to trial, which could set a precedent instead of being settled.
Since the lawsuit, the value of the cryptocurrency has decreased, but most people who believe in it think the price will go up after Ripple (XRP) wins the case. Also, the price of cryptocurrency went up after news came out on September 29, 2022, that the case was making amazing progress.
As the lawsuit slowly draws to a close,
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