Amended Lawsuit Against Ripple Now Offers Theory That XRP May Not Be a Security
While the lawsuit against Ripple Labs still alleges the firm broke securities laws, the plaintiffs now seem to be hedging their bets.
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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
The lawsuit alleging Ripple violated U.S. securities laws comes from a company that previously accused FTX of price manipulation.
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XRP
