Largest lawsuit in the crypto world and its effect on Ripple

The case of Johnny Depp and Amber Heard is almost nothing compared to that of Ripple and the Securities and Exchange Commission. In fact, it ranks as one of the largest lawsuits in the crypto industry today. Although Ripple prevails after an earlier ruling, the SEC does not just leave it at that. A final decision will follow in 2024. Crypto broker Anycoin Direct explains what consequences the haggling has on the price.  

Ripple, also known as XRP, is a cryptocurrency and digital payment network. It enables instant transactions with low transaction fees between two parties without the need for a centralized third party. Ripple was founded in 2011 by former Bitcoin developer Jed McCaleb and venture capitalist Chris Larsen. Since then, it has grown into one of the largest cryptocurrencies in the world, with a market capitalization of over $35 billion. 

A look at Ripple's price history indicates that it has weathered some major market declines and has shown signs of increasing stability in recent months. This could represent an opportunity for investors looking to capitalize on Ripple's potential growth as a cryptocurrency.

Big consequences

The SEC, founded in 1934, is the American regulator of various stock exchanges. In 2020, the regulator sued Ripple for selling unlicensed securities in the form of XRP tokens since 2013. Ripple objected to this because they do not consider XRP as securities. The SEC then said that Ripple had been able to discover through research that XRP tokens are indeed securities. 

Recently there was a statement: Ripple emerged as the big winner. However, the ruling does not appear to be final yet, this could have major consequences for the price. Coins like Polygon and Cardano face the same charges. 

Although expectations in the crypto world remain a piece of cake, there are agencies that make a Ripple forecast for the coming years based on their own algorithms. This also applies to DigitalCoinPrice. Below is the Ripple forecast 2023 – 2030 from DigitalCoinPrice:

Anycoin Direct

Anycoin Direct has been active since 2013, making it one of the oldest crypto brokers in the Netherlands. Anycoin has an official registration with the DNB. Buying, selling, sending, receiving and storing crypto is all possible with a free Anycoin Direct account. Interested in XRP? View the website here for more information.