Ripple (XRP) achieved better appreciation rates than Bitcoin (BTC) this past year. That’s brought regular coverage from CNBC and Forbes and other popular media. Investors and professional traders have remained cautious about Ripple, and they’ve not jumped in. But at this time it time, it appears that Ripple’s XRP price is exactly where they wanted it to be. There’s without doubt that XRP is a good buy as things stand right now but could it be that good when you take everything into account?
It’s in trouble with SEC because its position as a security remains controversial. Ripple labs think that the lawsuit and the controversy are just strategies to keep people away from the coin and make the task look bad. Ripple has shown openness to regulatory initiatives, and Brad Garlinghouse (Ripple’s CEO) has tested more often than once calling for rules for crypto cash.
Ripple’s current situation could seem problematic. But if the SEC confirms that Ripple is not just a security after all then all bets are off. It shall give it the reliability it requires to soar and become accepted and traded in every major crypto exchange in the world, including Gemini and Coinbase. So that could be why Coinbase has not listed it so far. But if Ripple is declared a security that might be bad news not merely for XRP but for each single crypto coin available nowadays. It would undermine traders’ self-confidence and ruin the market. It could put the whole blockchain tech into question.
As the SEC knows that, they’re unlikely to go after such a hardline approach. Also, crypto fanatics and lobbyist with impact upon the national authorities will need a stand, therefore will the best banks and financial institutions that have already adopted any type of cryptocurrency to make their business easier lately.
But the SEC will should also see some kind of confidence indication from the buyer community. Big banking institutions and finance institutions have been exerting a huge impact on the world’s government authorities for decades. This time it’s more democratic, it’s bigger than them, and they’re afraid to let it run past them, to leave them behind.
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All the fearmongering works for those organizations because it maintains the prices down to allow them to join in at their convenience. But once the banks get their hands on Ripple’s XRP derivatives, options, and futures you’ll start to see the market soar, with their (and the government’s blessing). Mark my words: in 3 to 5 years, if you buy any crypto coins, you’ll be buying them from banks.
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