The Debate Over Whether Its A “Security” Whipsaws XRP Token
Is Ripple – specifically the XRP token – the platypus of the crypto world?
Turns out the debate over whether it is or isn’t a security is having a knock-on effect: It’s making the XRP token’s price less than … well, secure.
The XRP token’s value is now below $0.50, which means new lows and a shadow of a $3.40 peak.
As reported by Express in the United Kingdom, there are rumors afoot in crypto land. Rumors that the token can and will be classified as a security here in the States.
It may be such a designation that scares holders and would-be buyers of that token, and the Securities and Exchange Commission (SEC) has yet to weigh in – but weigh in it will.
The company told Express that “everyone is free to say what they want or pursue their own agenda in the media, but ultimately the facts around XRP will win out over uninformed speculation … XRP doesn’t give its owners shares in Ripple, the XRP Ledger is decentralized among 150+ independent validators – Ripple operates only 14 of them – and XRP would continue to exist even if Ripple disappeared tomorrow.” XRP is the 3rd largest cryptocurrency by market cap size. It is up 2.98% over the past 24 hours and is currently trading at $0.457684. It can be bought with fiat dollars, credit cards, or debit cards on cryptocurrency exchanges such as CEX.io and Changelly.