Ripple (XRP) is one of the leading digital currencies, and although the currency does not aim to be the most decentralized, it actively cooperates with international banks and investment companies. Experts say this factor could be the key to Ripple's success. XRP is not just a digital currency, it is designed to be a complete payment infrastructure that can replace the SWIFT system. The lawsuit with the US Securities and Exchange Commission (SEC) became one of the most important events that attracted the attention of the entire cryptocurrency sector.
The hearings began in 2020 and ended only in July 2023. As a result, the court sided with Ripple (XRP) and did not recognize it as a security as the US Securities and Exchange Commission (SEC) wanted. The court's decision greatly pleased Ripple fans. Under the influence of this positive factor, the currency price increased by 100%. However, lawsuits continue to this day. The new trial was prompted by allegations that sales resulting from Ripple's sale of its XRP to organizations constituted unregistered securities contracts. The outcome of the hearings will be known by the end of spring 2024.
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