XRP lost value on a day when the rest of the market kickstarted a sizable recovery, as the SEC enforcer behind Ripple Labs’ $1.3 billion lawsuit announced his departure.
Founded in 2012 as OpenCoin, Ripple Labs is the software company developing the XRP cryptocurrency and distributed ledger technology alongside a suite of payment protocols for streamlined cross-border settlement for financial institutions.
XRP functions as the bridge currency underlying Ripple’s liquidity and exchange product, xRapid, which provides financial institutions a medium for global value transfer between various fiat currencies.
XRP Ledger is the open-source DLT that provides cryptographically secure, verifiable settlement of the XRP currency. XRP Ledger is not part of Ripple’s suite of proprietary software products, as it is accessible and open to all.
At Cointelegraph, we are chronicling the progress of Ripple Labs (and XRP) as it competes with cryptocurrency protocols and traditional fintech platforms alike.
Grayscale is dissolving its XRP Trust and will distribute cash to investors after liquidating all XRP held by the trust.27274
GateHub is the latest crypto firm to announce the continuation of XRP support despite Ripple’s legal issues with the SEC.11942
Bakkt's CEO did not mention whether the company decided to stay away from XRP due to Ripple’s ongoing legal issues.15093
The price of XRP is showing bullish signs in the short term despite the ongoing SEC lawsuit against Ripple.39455
Bitcoin’s move above $40,000 and the strong double-digit rallies of multiple altcoins prove bulls are running the show.31463
A sudden reversal of fortunes takes XRP 55% higher in 24 hours despite legal problems at Ripple persisting.24306
Ripple's woes multiply as Blockchain.com becomes the latest exchange to suspend trading of XRP.20096
Ripple co-founder Jed McCaleb appears to have enjoyed a prosperous 2020, having sold more than $400 million worth of XRP over the last 12 months.51083
The number of XRP addresses holding at least 1 million tokens has declined sharply over the past two weeks.26864
Grayscale Investments is the latest major crypto player to drop its association with Ripple's token.39709
XLM benefits from a Ukraine government partnership and becomes the latest addition to 2021's new alt season.42540
A longshot effort from the community hopes to solicit an official White House response60886
Binance.US and eToro are the latest exchanges to discontinue XRP trading in America as Ripple faces the SEC's enforcement hammer.27512
Corporations and institutional investors seeking an alternate store of value amid the pandemic crisis drove crypto to new heights in 2020.8650