Investor Lawsuit Argues Ripple Still Has to Answer Over Ongoing XRP Sales
Ripple's argument that an XRP holder waited too long to file suit has no precedent, a new legal filing claims.
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About
XRP is known as a Real Time Gross Settlement System which is a ‘currency exchange and remittance network’ that independent servers validate. The currency traded is known as XRP and transfer times are immediate. XRP can be exchanged for most other currencies with its USP being the avoidance of fees and wait times often associated with banks. It isn’t made up of a blockchain but rather a Hash Tree and its currency can’t be mined because there are a finite number of coins – one hundred billion. XRP is popular with banks and institutions though the XRP token isn’t necessarily required for each transaction.
Blockchain 101XRP
If $XRP is burning a hole in your pocket you can now spend it at retailers served by BitPay (along with $BTC, $BCH or $ETH)
Even if XRP were a security, the investors suing Ripple brought their case far too late for it to proceed, the company said in a new filing.
BitMEX is releasing an XRP-U.S. dollar quanto swap targeted at crypto’s budding derivatives market.
Ripple now owns nearly 10 percent of MoneyGram's outstanding common stock after completing its $50 million equity investment.
Criminals have used XRP to carry out their illicit activities, though hardly to the same degree as bitcoin, according to a new report from blockchain sleuthing firm Elliptic.
