What is XRP (XRP)?

So far this year, XRP has a change of 28.03%. XRP is classified as a Currency under CoinDesks Digital Asset Classification Standard (DACS). XRP is the native cryptocurrency of XRP Ledger, which is an open-source, public blockchain designed to facilitate faster and cheaper payments.

What is Ripple (XRP)?

Ripple is a money transfer network designed to serve the needs of the financial services industry. XRP, a cryptocurrency tailored to work on the Ripple network, is consistently listed among the top ten cryptocurrencies by market capitalisation, and most recently broke into the top five of the most profitable assets.

What happened to XRP?

Until January 2019, the digital payment token was the second-largest cryptocurrency by market capitalisation, ahead of smart contract platform leader Ethereum. XRP’s all-time high stood at $3.84, reached on 4 January 2018, data from CoinMarketCap showed. Since then, the token has been on a downward trajectory hurt by the SEC lawsuit.

Should XRP be regulated?

The SEC argued that XRP is a security rather than a currency and should be regulated by the market watchdog. In its lawsuit, the SEC said Ripple raised billions of dollars via the sale of XRP to finance the company’s business. It also alleged that Larsen and Garlinghouse profited by over $600m from “personal unregistered sales of XRP”.