The new system works a lot like a time delay safe for digital assets with a policy engine to broker communications.
Established in 2012 under the name OpenCoin, Ripple Labs is the software corporation responsible for creating the XRP (XRP) cryptocurrency and its accompanying distributed ledger technology (DLT), the XRP Ledger. In addition, the company has crafted a collection of payment protocols, such as RippleNet, which are designed to optimize cross-border transactions for financial entities. RippleNet serves as a counterpart to the traditional SWIFT system, aiming to revolutionize and accelerate international money transfers by leveraging blockchain technology.
Initially featuring distinct services (xCurrent for bank payments, xRapid for liquidity via XRP and xVia for API integration), RippleNet consolidated these offerings in 2019. This strategic unification aimed to broaden XRP’s application in fund transfers under a single, cohesive RippleNet banner. Ripple’s XRP Ledger is the open-source DLT that provides cryptographically secure, verifiable settlement of the XRP currency. The XRP Ledger is not part of Ripple’s suite of proprietary software products, as it is accessible and open to all.
In 2020, the United States Securities and Exchange Commission filed a lawsuit against Ripple and its executives, Brad Garlinghouse and Christian Larsen, which accused it of conducting unregistered securities offerings worth over $1.3 billion via XRP sales. However, in July 2023, Ripple secured a partial victory when U.S. District Judge Analisa Torres ruled that XRP sales on public exchanges did not constitute unregistered securities offerings.
XRP may need to undergo a short sell-off period before confirming the upside continuation setup as whales demonstrate bullishness.12492
A BlackRock ETF rumor prompted a big pump-and-dump in the XRP market, which may result in a 20% correction over the next few weeks.49668
SEC Chair Gary Gensler shared a speech on X, triggering heated reactions across the crypto community.8089
Navin Gupta, managing director of South Asia, Middle East and North Africa (MENA) at Ripple, told Cointelegraph that education and introducing non-speculative use cases can help crypto companies navigate through varying regulations.3316
Ripple CEO Brad Garlinghouse discussed discouraging maximalists and factors that could drive further institutional adoption at the recent Ripple Swell event held in Dubai.4102
John Deaton highlights that the legal action against Ripple is not centered on fraud but instead constitutes a regulatory disagreement.16425
HSBC has partnered with Ripple-owned tech firm Metaco to allow institutional investors to hold tokenized securities on its new custody platform.7964
The deal aims to enable faster, cheaper payments between 27 African countries, working with three Onafriq partners.5841
XRP's price has gained over 10% today amid rumors of Ripple announcing IPO plans at this week's Swell conference in Dubai.89687
Cardano price continues its rebound move in November, with ADA whales supporting the rally, on-chain data suggests.20661
Deaton strongly refuted the idea that the lawsuit’s result was an even 50/50 outcome for the SEC, claiming that it’s closer to a 90/10 advantage in favor of Ripple.47382
The National Bank of Georgia will use the CBDC platform to assess digital lari’s benefits for government, businesses and retail users.10300
Stuart Alderoty expressed concern about the SEC’s repeated arbitrary and capricious actions in court cases, suggesting a troubling pattern under Gensler’s leadership.7123
Voltage Park will lease access to 24,000 clustered NVIDIA GPUs by the hour or month to help small startups and researchers model machine learning.8332