The world of cryptocurrency is constantly evolving, and Ripple (XRP) is one of the most talked-about digital currencies in the market. With a market cap of almost $19 billion, Ripple is the sixth-largest cryptocurrency behind Binance Coin and USDC. In recent news, Ripple (XRP) has been making headlines due to its ongoing legal battle with the US Securities and Exchange Commission (SEC).
The SEC filed a lawsuit against Ripple (XRP) in 2020, alleging that Ripple had sold $1.3 billion worth of unregistered securities in the form of XRP. The SEC claimed that Ripple had violated securities laws by selling XRP as an investment contract rather than a digital currency.
Ripple has firmly denied these allegations, stating that XRP is not a security and that it is a utility token used to facilitate cross-border payments. Ripple has also argued that the SEC has not provided any clear legal guidance on whether XRP should be considered a security and that the lawsuit has caused significant harm to Ripple’s business and reputation.
Despite the ongoing legal battle, Ripple (XRP) has continued to make progress in the cryptocurrency market. In recent months, Ripple has announced a number of partnerships with major financial institutions around the world, including MoneyGram and Banco Santander.
However, the legal battle may finally come to an end with a devastating blow dealt to the SEC’s case, excluding statements of the key witnesses for the prosecution and indicating a landslide win for Ripple and the whole blockchain industry.
With Ripple’s expansion in South-East-Asia and the current positive news surrounding the case against the SEC, XRP has been one of the best performers in recent weeks.
Analysts predict if the lawsuit is decided in favor of Ripple, its token XRP could increase rapidly, even tho its all-time high of $3.84 may take a while to reach. In fact, the most bullish analysts target a price of up to $2.16 by 2024, surpassing its old ATH by 2025 with a target of $3.61 in the best-case scenario.
While Ripple (XRP) is making headlines in the cryptocurrency market, another digital currency is also making waves. Avorak AI is a new ICO (Initial Coin Offering) that has been selling out fast, raising over $200,000 going into the second phase of the presale.
Avorak AI is developing an AI-powered platform on the Binance Smart Chain. It utilizes machine learning algorithms to analyze market data and predict future market trends. The platform also offers a number of different tools and features to help traders navigate the complex world of cryptocurrency trading.
Ripple (XRP) remains one of the most talked-about digital currencies in the market. The ongoing legal battle with the SEC has not stopped Ripple from progressing and expanding its market presence. Meanwhile, the launch of the Avorak AI ICO has shown that there is still significant demand for new digital currencies that offer innovative solutions to traders’ challenges in the cryptocurrency market.
Website: https://avorak.ai
Whitepaper: https://avorak-labs-and-technology.gitbook.io/avorak-a.i-technical-whitepaper/
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