XRP market is bearish these days and investors who have investments have lost their patience waiting for a big jump but there are some of the possibilities which you might consider before you despair from the rise of XRP. XRP price is fluctuating between $0.60-0.40 and there isn’t any factor which can indicate that it will rise but there are some elements if they get better than there are chances that XRP will rise in the price.
Among them the major one is the Security and Exchange Commission Report about the XRP which alleged that Ripple has failed to comply with the federal securities laws by not registering offer and sale of $1 billion worth of XRP to retail investors which dispossess the buyers of XRP from complete disclosures of XRP operations.
The XRP CEO Brad Garlinghouse and Chairman Chris Larsen had sold more than $1 billion of XRP approximately in which 15.62% of XRP to retail investors without registration of XRP in the Security and Exchange Commission.
Ripple has valid response to it and said in its defense that XRP is an open source cryptocurrency which Security and Exchange Commission had not considered in the law proceedings and they sold its XRP to promote its Ripple platform. Moreover Ripple has assert that U.S. Department of Justice and the Financial Crimes Enforcement Network had registered XRP as a crypto which can be converted and Ripple has prerogative for sales and secondary transactions.
As many of you have seen, the SEC filed an amended complaint today. The only legal claim remains: did certain distributions of XRP constitute an investment contract? Disappointing the SEC needed to try to “fix” their complaint after waiting years to bring it in the first place…
— Stuart Alderoty (@s_alderoty) February 18, 2021
Ripple has made XRP to go for a purpose which is to make huge transactions post hastily on low charges to replace the system of Swift, which it achieve seamlessly. On the other hand Swift charges more on the huge transactions and the transition speed is significantly low on Swift. Targets of XRP is to replace the traditional mode of payments like Western Union and Money Gram and this was the reason that, Ripple had acquire shares in Money Gram so that it may introduce its own ways of payments. XRP will make its name in the market as the payment currency, by increasing speed of XRP transactions over its contenders. If we explain that in an example of how fast the transaction of XRP as compared to Bitcoin than a transaction in which Bitcoin takes 10 minutes will be take 10 seconds to made those transactions, this might become the main reason which will made the price of XRP to High end.
In these times Ripple is considered to be the superlative option to transit substantial amounts securely, privately and speedily at the least competitive rates.
Ripple is entering into the market with new strategies to go on higher level. Ripple is introducing another tremendous service PayString which aims to handle financial services including payments of fiat and virtual currency transfers.
XRP price will surely rise if the SEC case against it will be drop or settled. XRP has seen bearish trends before and its bearish trend will end by the midst of 2021. If the Ripple will sustain its price at $0.4 in this bearish cycle than it will slowly take its pace towards high tide. Ripple will attain the level of $3 at the end of 2021 and in 2022-2024 its price will be predicted to above $70.
Written by Crypto Recaps Investment Analysts