Ripple has had a wild ride of ups and downs over the past few years as a drawn-out case against them from the SEC, accusing Ripple of selling XRP as an unregistered security, may look to come to a close this year. But how could this one lawsuit affect an entire industry?
What is XRP?
XRP is the cryptocurrency of Ripple Labs. It is the native coin of the Ripple network and was created in 2012.
A peer-to-peer network is the basic premise of XRP. According to Ripple, XRP is a digital asset that processes transactions quickly, is less expensive, and uses less energy than the majority of its competitors.
Similar to Satoshi Nakamoto, who invented Bitcoin, Ripple sought to facilitate a simpler, faster, and safer method of conducting international transactions.
Is XRP a good investment?
XRP has proven to be an incredible investment over the past ten years. From its initial trading price of $0.01, Ripple has seen rises up to $2.00, an incredible return.
The outcome of this lawsuit will determine is XRP a good investment or not, with a win for Ripple Labs likely to send XRP up another price leg, and a loss likely to mean all cryptocurrencies are securities and send the entire market into a tumble.
How to buy XRP
If you think the SEC will lose this case, buying XRP may generate you some fast cash when the verdict comes in. For those who want to know how to buy XRP, the digital coin is available on all major crypto exchanges such as Binance, Kucoin, Bybit, and Coinbase.
Alternative Investments
If the XRP lawsuit goes in favor of the crypto, the whole industry will feel a boost, so there are likely much better investments to swing on this XRP news event.
Avorak is one such project that will likely see immense buying on a positive XRP lawsuit outcome. The AVRK is a utility token, allowing the purchase of credits to use the Avorak system, meaning that if XRP is deemed a commodity then AVRK certainly will be.
Users wll be able to use these credits purchased with AVRK to access the Avorak set of products, which will begin with advanced trading bots that can self-learn indicators and apply automated trades via API key to increase traders’ win rates and profitability.
Cilinix Crypto has picked up on this project and there are already CEX listings underway before the official launch has even begun, some positive global crypto news like XRP winning against the SEC could likely launch AVRK into the stratosphere.
Want to learn more about Avorak AI?
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
