Ripple Involved in Yet Another Securities Lawsuit
As a result of several lawsuits involved XRP and securities issuance, the company has been operating quietly for some time now. Currently, Ripple has been part of a handful of lawsuits as many are accusing the company of distributing XRP as unauthorized securities. This comes as a result of XRP being added to several cryptocurrency exchanges and as part of its evident expansion.
The crypto-sphere is currently divided on the classification of XRP with many stating that it should be classified as a security which may significantly affect the cryptocurrency and its company and others believing that XRP does not possess the requirements of being deemed a security.
Rosen Law Firm, the next in line to file a lawsuit against Ripple and have stated in an official announcement that law firm is, in fact, looking into Ripple and allegations of breaking securities laws through native coin sales and is currently filing a lawsuit as a means of reimbursing XRP holders that have lost their own assets as a result of this.
As of now, all the attention and consistent lawsuits placed against Ripple in a very bad spot, especially XRP tokens. As more class actions are filed against the company, Ripple’s recovery will prove to be much harder and as a direct result, XRP will drop in popularity and the chances of an increase in price or additional listings will massively drop.
At press time, the XRP token is priced at $0.34, dripping around 3 percent from its all-time high of $3.84.