XRP is a protocol created to facilitate cross border payments. It's super fast and reliable and it's the cheapest way to send money abroad. XRP was created by Ripple Labs, a company based in San Francisco, California and well known around the world. Since the beginning Ripple has always pushed XRP sales by using numerous marketing campaign...some of them promising the Moon.. On the TA side XRP chart shows a clear manipulation of the coin, making it almost impossible to determine if the price will go up or down in the near future.
Ripple vs. XRP relationship is quite complicated and is almost unique in the cryptocurrency panorama. Ripple helps the majority of the token in escrow, however Ripple has kept selling his tokens to big institutions and banks around the world even for a cheaper price than the one in the market at the moment of the selling.
Ripple has always played in a grey zone, stating that it was something different from XRP token and that the token was something independent from the company and traded in the markets out there. However Ripple has kept his power of pumping or plunging the price of the coin XRP.
Despite having had a lot of time to sue Ripple before Christmas time and before submitting his resignation, SEC Chairman Jay Clayton sued Ripple During Christmas time. We all know that Elad Roisman who will be taking over Jay Clayton place in less than a month, is crypto-friendly.
So my questions now are: Why Jay Clayton sued Ripple just before his resignation? Why Elad Roisman has been nominated successor of Jay Clayton by Trump administration? Why Brad Garlinghouse decided to fight even though he had the option of settling with the SEC? Why the case has been brought forward in a New York federal court even though Ripple’s headquarters are in California? What could possibly mean having the price of XRP plunge to an ATL (All Time Low) to redistribute coins among investor?
Seems more like a Ponzi after reading the actual filing. No Product that Ripple labs has developed has anything to do with XRP. Despite this fact Ripple labs is 100 percent funded by the distribution, promotion, and sell of XRP. This is a security. However, No investor of XRP owns any part of Ripple labs or shares in any success or failure of any product that Ripple labs has developed or is trying to take to market. Brad Garlinghouse is "long" on XRP. Oh Really Brad? Then why have you personally dumped 300 million of your own holding on the market? Larsen and his wife? 600 million dumped on XRP Army all while posting on twitter how excited they are about the future of XRP. You buy, we sell is the only thing happening at ripple labs. They have built a second company off your hard earned dollars and they owe you nothing for it. If people want to continue to fund a company that is giving you nothing but a Chucky Cheese token in exchange, then hell yeah, its your money but THAT is why they are being sued. Not because they are trying to manipulate this.
RobRobin
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@cryptohop, Thank you for your contribution, it's enlightening but could you please explain to me the reason why the announcement was made when XRP and the entire market was doing quite good and why the same announcement was made by a resigning Chairman?
XRP doesn't hold a candle to stellar lumens in speed. It's proven itself to be the most centralized decentralized chain. XRP is a great way for alot of people, the people the buy it because it's poor man's crypto in hopium, to LOSE their money. This is a yikes shitcoin for me dawg.
RobRobin
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@Cryptocontortionist, Well I have been hearing that XRP is a shit coin for a long time...but in this post I just wanted to share some thoughts about the maybe strategic scheduling but surely perfect timing of the announcement.