Ripple’s Blockchain and Cryptocurrency XRP promises to provide

smooth and seamless payment settlement, asset exchange and

remittance systems for cross border transactions. This works to allow

users to be able to complete fast, direct and secure transactions on

the web.To express the primary purpose of the technology simply it

was primarily created for banks and payment settlement, a money

transfer system and currency exchange.

SEC LAWSUIT

In December 2020, regulatory uncertainties surfaced regarding

Ripple. A complaint was filed by the United States Securities and

Exchange Commission (SEC), due to Ripple’s action or at least they

are attempting to define Ripple’s move of selling XRP to investors in

the U.S. and the global public falls under the category of being an

unregistered securities sale that garnered over $1.3 Billion.The

issue puts the blockchain technology and the cryptocurrency market

under a spotlight. This industry is fairly new and the innovative

technology and usage of it is still being understood by the masses.

Due to this there are no regulatory laws in place to Govern it. The

outcome of this case will determine and mold the future of

cryptocurrency and the blockchain industry as well as make more

people who were skeptical comfortable with making purchases

within this market. As of September 2022 the case is still being

decided.

CONCLUSION

XRP is very popular among the current  cryptocurrency market.

Holders of the digital currency proclaim that Ripple has made many

pivotal partnerships with major banks, and big corporations that are

anchored in the money transfer business, therefore solidifying it as a

mainstay in the industry. Many predict and proclaim that the

cryptocurrency price will only skyrocket because of this and once the

SEC case is decided (if it is in Ripple’s favor) the Token will shoot to

the moon. Personally I do not hold any XRP and time will tell if the

XRP communities boast about Ripple’s business dealings will truly

create an unbreakable and unbeatable position at the top for the

XRP token. I do believe ( in my opinion, this is not financial advice)

that XRP will play a pivotal part if not a dominant part of the

unification of world currency based upon information I have observed

thus far.