While a streamlined and cohesive payment system is everyone’s dream, transferring money between nations or accounts on different ledgers or networks is easier said than done. At a time when digitalization is taking over the world, most available services are mainly manual, sluggish, and costly. The solution is a service that guarantees the sender and recipient that the intermediary will perform its function correctly. That’s where Ripple’s [interledger protocol](https://interledger.org/rfcs/0027-interledger-protocol-4/)(ILP), a secure transfer service that helps route payments across digital asset ledgers, comes in. 

## What is the interledger protocol?

Interledger refers to a suite of protocols designed by San Francisco-based [Ripple Labs](https://ripple.com/), the cryptocurrency startup associated with the popular [Ripple](/news/article/market-ripple) (XRP) token. It uses the system to facilitate a seamless transfer of money from one payment system to another. The tool supports a worldwide web of networks for different forms of value, but specifically connects bank systems across borders, primarily where banks use XRP to settle cross-border payments. The system links senders and receivers to expedite money transfers via secure multi-hop payment and intelligent routing.

## How it works

The interledger protocol, currently in its fourth development stage (ILPv4), refers to an entire stack of protocols containing three packet types: Prepare, Fulfill, and Reject. The protocol functions by routing the packets through the interledger network and transmitting encrypted payment information from a sender to a receiver.

Since ILP is a set of rules that define how nodes send value over the network, the packets carry private transaction information to the participating nodes.

The rules are divided into four categories: payment setup, payment, interledger, and settlement/ledger. The person initiating a transaction constructs and sends a Prepare packet to request a connection to the router. The router receives and forwards the packet to the receiver, who can accept or reject it by sending a Fulfill or Reject packet as their response. 

Once the packet is successfully delivered to the recipient, the sender receives a Fulfill packet and sends all remaining Prepare packets until they transfer the total amount. According to the [whitepaper](https://interledger.org/uploads/interledger.pdf), connectors can amend all fields apart from the encrypted data field that contains payment between the sender and the receiver. 

The ultimate goal of this tech is to enable hosts to route money transfers over different interconnected ledgers, allowing payments to pass from one ledger module to another until they reach the intended recipient. The participating modules belong to hosts and connectors within the system who constantly communicate. The protocol leverages assets within the underlying ledgers to safeguard senders and receivers from failed transfers, especially when routing large payments through a system with a trust deficit between connectors and intermediary ledgers.

## How the system is executed  

The interledger protocol is designed to be executed in two different modes: atomic mode and universal mode. 

Atomic mode: Transactions executed in this mode use notaries, referring to a provisional group of individuals that authenticate and confirm transactions occurring between banks or participating financial service companies that might be linked.  

Universal mode: Transactions executed in the universal mode don't require notaries and can be used between untrusted connectors. The transfers are facilitated using XRP, Ripple's native cryptocurrency. Since time constraints accompany such transfers, transactions that don't occur within the specified timeframe become null and void.  

## Benefits of ILP 

The following are some reasons you may choose the interledger protocol:

•	Easy to use over different networks.

•	Faster than traditional methods.

•	Lower prices when compared to the competition.

•	Trustworthy transactions that can be tracked easily.

•	Large transfers split into smaller packets to increase efficiency, security, and interoperability.

## The Bottom Line 

The ILP has wholly transformed the utility of the Ripple network. Any entity using XRP can benefit significantly from this protocol due to its infinite scalability and high-level transaction secrecy. All these are additional benefits to the advantages some banks already enjoy from Ripple’s [blockchain financial technology](/news/article/crypto-impact).


city landscape in green with interledger logo 

Interledger Protocol: What You Need to Know 

In Ripple XRP news, investors are speculating about the price prediction for the token in 2023.

XRP, often referred to as Ripple, is a cryptocurrency launched in 2012. Ripple was designed to move transactions from central databases, controlled by financial institutions, to a more independent infrastructure while cutting costs.

## Ripple XRP news: Token never hit £4 in 2022

[Predictions show that the XRP token is capable of reaching the £4 mark](/news/article/ripple-price-prediction), but progress will be slow. Ripple, which was set to skyrocket last year, faces many roadblocks ahead. It took a hit in 2020 with a lawsuit filed by the Security and Exchange Commission, which is still not settled. Since legal proceedings take time, the token has seen a stagnation in price until recently.

It will take time for Ripple to come out of the aftereffects of the lawsuit. The token saw a downward trend all year in 2022 due to the uncertainty with the SEC lawsuit, among other macroeconomic concerns. The token price saw a downward trend last year, with a price cut of 56%.

## Ripple XRP news: When will the lawsuit be settled?

People interested in investing in the token only have one question on their minds, '[When will the lawsuit be over](/news/article/sec-vs-ripple-news)?'.

At the time of writing this, both parties involved in the lawsuit have provided all the necessary documentation required for the legal proceedings to begin. However, the final judgement is probably months away due to the Daubert Motions waiting for the final papers. Once they are provided, the judge usually takes three months to sign them. However, this gap may vary because cases involving securities and commodities are among the slowest ones.

In any case, eager potential and current investors may not have long to wait for the verdict since it is predicted that the judge will make a final ruling in the first half of 2023.

This means that if the ruling is in favour of Ripple, the [price will skyrocket](https://insidebitcoins.com/news/xrp-price-explodes-20-to-0-41-as-trading-volume-hits-1-2-billion-how-high-can-xrp-go) since thousands of new investors will start to pour in. On the other hand, Ripple's price is expected to go down even further if the judge rules against the token and its workings.

But that's not all. The verdict in this case is important even if you are not an XRP investor, but are a part of the crypto space. The outcome, whatever it may be, will have a [huge impact on the crypto market](/news/article/market-ripple).

## Ripple CEO says he is hopeful of a resolution

In recent Ripple XRP news, CEO Brad Garlinghouse said [he is optimistic about a resolution](https://www.cnbc.com/2023/01/18/ripple-ceo-optimistic-crypto-firm-will-get-sec-xrp-lawsuit-ruling-soon.html) in the first half of 2023. At the Davos World Economic Forum meeting, he stated that he feels good about Ripple's position so far in the lawsuit relative to the law and facts.

The SEC launched a lawsuit against the company alleging that the executives in the company sold the XRP coin, launched in 2012, without first registering the company as a security.

Ripple is fighting the claim stating that XRP should not be considered as an investment contract and that the token is used in Ripple's business for international transactions between banks and other financial institutions.

In December, the SEC and Ripple provided the final rounds of briefs to the court in hopes of a summary judgement. Both parties accuse each other of stretching the law. As of this moment, the judge can choose to pass a ruling, not take the case to trial, or even present it in front of a jury. Whatever happens, the masses will have to wait and see what the final verdict will be.

## XRP price
 
XRP token saw a whopping 20% price increase in late January after a tumultuous 2022. The token is now valued at £0.3324 with a market cap of £16,684,137,602.84. The circulating supply stands at 50,796,877,639 XRP and the max supply is 100,000,000,000 XRP coins.


Ripple XRP News for 2023 

First, let me tell you what the [Flare Network](https://flare.xyz/the-flare-network/) is. It is a new blockchain network researching the future of blockchain technology. It makes it possible to use XRP tokens with smart contracts. Spark Token is Flare's native token.

## More about the Flare Network

It is a distributed network integrating the Ethereum Virtual Machine (EVM). At its core, EVM transfers smart contracts into instructions that computers can read, allowing the network to run complete Turing intelligent contracts.

Being fully Turing means that this contract can handle any computational task if there is a large enough memory to run the smart contract. In short, Flare helps to be a way to scale intelligent contract networks.

It uses a consensus protocol called Avalanche, adapted to work with the Federated Byzantine Agreement (FBA). FBA is a consensus mechanism used by networks such as XRPL and Stellar.

Flare's consensus algorithm does not use economic tools such as Proof of Stake (PoS) to protect the network’s security.

The new blockchain network allows the network token to have different uses. The originators of Flare said that this design choice brings variety to the token without compromising security.

## Launch date

With the new announcement from Flare’s team, the protocol is getting closer to decentralised management.

The date of transition to airdrop and beta mode was set as 24 October. The group released an official announcement stating that the protocol is moving to decentralised management. The network will run in beta mode for the next six to nine months.

Most of the processes needed to create the Flare Network have been done. According to the Flare team, it is now in the monitoring phase and has passed several previous phases without any flaws or problems.

## The Flare Network size

Do you want to know how extensive it will be?

It will create 100 billion Spark tokens, reflecting the quantity of XRP. Around 45 billion XRP tokens don’t belong to Ripple labs. The distribution aims for XRP holders to claim around a 1:1 amount of Spark to their XRP holding other than Ripple.

## How does the Spark token (FLR) work?

Spark token (FLR) is the cryptocurrency of the Flare Network. It is a project implemented with a usage fork in the XRP network. Spark tokens continue to operate as the cryptocurrency of the Flare Network ecosystem.

It is stated that this platform is a system that works to make the XRP ecosystem better. As it is known, smart contracts are a service offered to users on the leading altcoin Ethereum (ETH) network.

Thanks to smart contracts, new crypto-money projects are allowed to step into the market. It is possible to attribute the value of ETH to this service.

## How to buy Spark token (FLR)?

To invest in the Flare Network or buy Spark Token, you could simply buy a Flare token. To learn more about that, you can visit [CoinMarketCap](https://coinmarketcap.com/) and research where you can buy the Flare token.

It is very difficult to follow the movements of Spark token (FLR) in the market from existing web resources. According to the data on the team's website, this cryptocurrency works with many exchanges.

However, the information on which platforms the FLR tokens are listed on or where they are traded is not included. It is possible to buy this [cryptocurrency](/news/article/cryptocurrency-losses) through the Flare Network.

The Flare Network has already been met with optimization from the crypto community because it’s the system mechanism. A promising future awaits it in the cryptocurrency and blockchain community.


blue chains image with flare logo in foreground

Flare Network Explained

Before considering what impacts on Sologenic price, we need to understand the platform. [Sologenic](https://www.sologenic.com/) is a platform built on the XRP ledger with the aim of merging non-blockchain assets with crypto assets. Sologenic also offers a low-cost, on-demand, secure tokenisation of these traditional finance markets on a distributed ledger or blockchain.

These assets can then be traded like every other cryptocurrency using Sologenic's decentralised exchange (DEX). This means that institutions and individual users can trade crypto assets like XRP and SOLO (Sologenic's native token) against traditional finance markets.

Sologenic's Asset Tokenisation platform has more than 40,000 stocks, ETFs, and commodities tradable across three continents, which it tokenises.

## How Sologenic changes the game

Sologenic’s [whitepaper](https://www.sologenic.com/downloads/sologenic-whitepaper.pdf) points out specific challenges and bottlenecks that give a logical reason for their platform’s solution.

The first is the limitation of most economic markets to their regions. It is difficult to do cross-border value exchange, which can help people to make foreign direct investments from anywhere in the world, especially for small, individual investors. Sologenic hopes to democratise this process through its Assets Tokenisation Platform.

Another challenge highlighted is the limitation caused by low financial literacy in many economies and high platform costs for many trading platforms.

The major highlight of this solution is that there are no technologies or trading platforms available for cross-asset trading, that is, between crypto and fiat or other traditional commodities.

The solution aims to address these challenges by making their platform simple, secure, fast, and easily accessible. Sologenic price for trading fees is also low compared to traditional trading.

## Combining blockchain benefits for traditional markets

At the core of the Sologenic platform is the application of blockchain technology and its benefits to existing traditional assets.
To make this possible, Sologenic has a decentralised exchange module, an asset tokenisation module, a blockchain module, and an order fulfilment module.

## How to predict Sologenic price

Like many other cryptocurrencies, Sologenic (SOLO) price is directly related to its use. If Sologenic's Asset Tokenisation platforms have increased traffic and usage, there will be more demand for the SOLO coin, causing an increase in Sologenic price.

Sologenic price can be affected by the overall trend of crypto markets. Since it trades traditional assets, it can also be affected by the stock market and other traditional markets.

To accurately predict Sologenic prices, you can start by analysing its price history as a helpful reference and comparing it to other crypto and stock market prices.

## Sologenic price and the future 

SOLO is created by users [staking](https://www.sologenic.com/ecosystem/expansion-fund) it in the SOLO Savings Program (SSP). The [market cap](/news/article/what-is-market-cap-cryptocurrency) of the SOLO coin is 400,000,000. The platform has an expansion plan called the SOLO Expansion Fund (SEF), which aims to include SOLO's global reach, protecting initial investors and increasing Solo's price. A portion of this fund is to stabilise the Sologenic price.

## Conclusion

Sologenic was founded by [Bob Ras](https://www.sologenic.com/downloads/sologenic-whitepaper.pdf) and Reza Bashash, with Bob as CEO and Reza as CTO. Sologenic.com is a part of the Sologenic ecosystem, as it is called. The Sologenic ecosystem offers other blockchain solutions and manages an [NFT marketplace](https://sologenic.org/nfts/marketplace).

Sologenic price today will depend on various facts like crypto market trends and current activity, stock market trends and current activity, your trader's appetite, and the overall use of the Sologenic platform.


sologenic logo and crypto token background

Sologenic Price and the Future of Tokenisation

In the latest XRP lawsuit twist, [the US Securities and Exchange Commission](https://finance.yahoo.com/news/sec-gets-support-sports-economy-085511025.html) (SEC) has received backing from sports investment organisation New Sports Economy Institute. The NSEI filed an amicus brief on Friday in the continuing dispute between the SEC and Ripple Labs Inc. 

In the [amicus brief]https://www.courtlistener.com/docket/19857399/717/securities-and-exchange-commission-v-ripple-labs-inc/(), NSEI compared cryptocurrencies to a "chameleon engaged in regulatory arbitrage, identifying themselves as assets when it wants to attract money and pleaded to 'investors,' but a currency when it confronts regulatory scrutiny".

"This flip-flopping is deceptive but also unlikely," claimed NSEI.

Even if the Court finds [XRP](/news/article/ripple-price-prediction) to be more of a currency and less of a speculative asset proxy, that will make it an exception rather than a rule. Any ruling in the XRP lawsuit like that should be constructed to avoid significant harm to future crypto speculators, who, in all likelihood, aren't even aware that they aren't investing in the first place, NSEI stated.  

The SEC filed a [complaint](https://forkast.news/sec-pushes-back-on-ripple-interrogatories-over-xrp/) against Ripple and its officials in December 2020, stating that the sale of XRP represented an issue of unregistered securities worth more than US$1.38 billion.

## XRP lawsuit: Coinbase amicus brief 

Coinbase, a cryptocurrency exchange in the US, has formally filed an amicus brief in favour of Ripple Labs Inc. in the case launched by the SEC in 2020. Coinbase, which claims to be the largest crypto trading platform in the US by trade volume, filed a brief in support of Ripple's fair notice defence on [Monday](https://www.courtlistener.com/docket/19857399/705/securities-and-exchange-commission-v-ripple-labs-inc/). 

The [Court](/news/article/xrp-court-case-update) should "deny the SEC's petition for summary judgement on this issue to guarantee that the current due process precedents on which the fair notice argument is based continue to safeguard against unlawful regulatory enforcement when warranted", Coinbase argued in the filing.

According to Coinbase, government bodies cannot condemn activity as a breach of the law unless fair notice is provided. It adds that by prosecuting sellers of XRP tokens after making public remarks suggesting that those transactions were legitimate, the SEC has lost sight of this foundational principle.

## XRP lawsuit: Likely verdict 

According to the CEO of Ripple (XRP), the SEC litigation might go on for another three months. However, many legal experts believe Ripple will prevail because the SEC has yet to give any substantial proof. 

According to legal experts, the SEC's chances of winning the lawsuit have dwindled even more. According to Roslyn Layton, senior analyst at Forbes and senior vice president at Strand Consult, "signs" of a "brutal loss" for the SEC are mounting. The SEC could not establish that Ripple and XRP investors were conscious of, or should have known, the token's claimed position as a security.

According to Layton, the participation of tens of thousands of XRP investors represented by attorney John E Deaton caused the SEC's case to crumble at last. 

Despite dismissing the motion to intervene, Judge Torres allowed the filing of amicus papers, "sending a strong message to the SEC that she would be listening". An affidavit was presented by more than 3,000 XRP investors from Deaton's group of over 75,000. 

Verret believes that if the SEC files an appeal with the Supreme Court, it will be defeated. If the SEC concludes that XRP is not a security, Ripple has already agreed to pay a charge. Currently, though, a resolution looks improbable.

## XRP lawsuit: General consensus  

The crypto community has [rallied around Ripple](https://zycrypto.com/ripple-heading-towards-historical-win-against-sec-in-xrp-suit-as-industry-supports-ripple-en-masse/) since the case was filed in 2020, with more than a dozen firms filing amicus curiae filings in support. Whereas most Ripple supporters say that securities regulations have been improperly used to create uncertainty for the whole sector, the regulator maintains that "most" cryptocurrencies are securities. 

However, CryptoLaw's John E. Deaton cautioned against drawing any conclusions from the Ripple action, implying that the Court may decide otherwise.



XRP vs SEC Lawsuit Update

In the latest [SEC vs Ripple](/news/article/xrp-court-case-update) news, the Blockchain Association has come out in favour of Ripple Labs as it continues its legal battle with the Securities and Exchange Commission. The US crypto advocacy group argues that the case is critical to the future of the crypto sector.

## SEC vs Ripple - Basis of Case

In a 28 October article, the advocacy organization said it would "stand" with the American crypto economy by filing a legal brief in the SEC enforcement case against Ripple. 

The SEC said [nearly two years ago](https://www.sec.gov/news/press-release/2020-338) that it would sue Ripple, former CEO Christian Larsen, and current CEO Brad Garlinghouse for allegedly generating $1.3 billion through unregistered securities transactions using XRP. 

This case is just one in a long series of SEC efforts to regulate through enforcement," the organisation stated, highlighting its efforts to entrench and legitimise its broad interpretation of the Howey test.

The [Howey Test](https://www.forbes.com/sites/roslynlayton/2022/10/30/crypto-law-experts-suggest-sec-likely-to-lose-key-case-and-discredit-howey-test/) decides what qualifies as an investment contract and hence what is subject to US securities laws. 

## Why is Blockchain Association involved in SEC vs Ripple?

The Blockchain Association explained in its brief why it believes the SEC and Chairman Gary Gensler's views on securities rules might have disastrous implications for the crypto sector. 

It says that [blockchain technologies](/news/article/moonriver-staking) have several applications in the cryptocurrency business; tokens may be used to pay for products and services, transfer intellectual property rights, maintain inventories, and serve a specific role in a particular blockchain project. 

Applying securities rules to such tokens, whether or not via the lens of the Howey test, would severely limit their ability to function. 

The group further alleges that the regulatory body is ignoring clear Supreme Court and Second Circuit decisions establishing that transactions offshore are outside its authority.

## Blockchain Association hopes in SEC vs Ripple case

According to the Blockchain Association, the lawsuit allows the industry to push back against the "SEC's [regulation](/news/article/uk-crypto-tax-regulations) by enforcement agenda" and perhaps open the way to upgraded industry standards.

SEC vs Ripple News: The Latest

You can either choose to make a short-term or long-term Ripple price prediction. Like many other cryptocurrencies, Ripple is a relatively new technology designed to disrupt markets. Officially known as XRP, it aims to change how cross-border payments are processed.

It is based on blockchain technology, which allows for real-time transactions between two parties. If cryptocurrency catches on, it could revolutionize the cross-border payments industry.

## Ripple price forecast

Ripple's price has not been in a clear trend since the beginning of the year. The unresolved SEC case is still having a stabilizing effect on cryptocurrency, and we can expect this trend to continue well into 2021. In Q2 2021 US courts allowed Ripple to review internal SEC documents, and bullish investors responded by taking the coin to new highs.

[Ripple's network](/news/article/travelex-currency-services) is based on blockchain technology, a revolutionary technology that disrupts traditional financial institutions. This has made XRP a popular choice for banks and other institutions looking for a faster, more secure way to transfer funds. The technology is not only a viable solution for international payments, but it has the potential to spread to other markets.

The daily chart of Ripple shows it consolidating and is unlikely to break through the Bollinger Bands levels in the next month. The price could continue to consolidate until the end of September, although an important price movement might not occur until the year's second half. The price may reach a lower low below $0.41 but will remain within the trading range during Q3 2022.

Ripple has garnered support from influential individuals in the investment world. Several powerful individuals have backed this project, including [Michael van de Poppe](https://twitter.com/CryptoMichNL?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor), a crypto-savvy YouTube personality with over 144K subscribers. Van de Poppe has predicted that XRP will reach a peak price of $0.60 in 2021.

A recent study from Coin Price Forecast showed that XRP will reach a $1.36 price by 2024. It is anticipated that several partnerships will expand its user base in Europe and boost its overall holders. However, the overall downward trend will lead to a low of $0.29 by the end of the year.


Ripple is an open-source, decentralized platform that enables the transfer of virtually any type of money from one place to another. It supports both traditional fiat currency and cryptocurrencies such as bitcoin. Because it doesn't use mining, ripple transactions require less energy than other cryptocurrencies and confirm in a matter of seconds.

If XRP continues to gain momentum, its price could reach $1.1 by the end of 2023. This would be a very positive result, especially considering the fact that Ripple's adoption rate is growing and its utility is becoming more apparent. The current global economic environment could also push it to even higher levels.

Although Ripple's price is not expected to reach $10, it is still considered a good value and will yield 15x ROI. If you're interested in investing in Ripple, you can buy or sell XRP based on analysis.

After all, Ripple was once mired in a controversy with the SEC, but it regained access to internal documents. 
Despite the recent volatility, the XRP price has shown signs of recovery over the last month. A price range of $0.45 may be possible in 2024, with a high of $0.42 and a low of $0.40 in 2025. The price is expected to rise steadily in the coming months.

XRP prices generally follow the market and Bitcoin's value, but Ripple has struggled to gain traction during the recent bull run. [A lawsuit from the SEC](/news/article/xrp-court-case-update) is not helping matters. The risks involved in investing in crypto assets are high and volatile. Investors should consider diversifying their investments with traditional assets.

XRP is currently making partnerships with banks and financial institutions, including banks and financial institutions in Europe and Latin America. These partnerships are expected to spur greater adoption of Ripple.

More interest in the Ripple network will eventually drive up prices. Furthermore, the SEC lawsuit could result in a negative outcome that forces XRP to new lows.


Ripple price prediction- what is the XRP forecast

## What is XRP?

Ripple (XRP) is the native token of the California-based start-up Ripple Labs, a blockchain platform that aims to improve cross-border transactions. Chris Larsen and Jed McCaleb developed the platform in 2012 to revolutionize global infrastructure.

The company was founded by Jed McCaleb, who built the first crypto exchange, Mt. Gox, which had a capacity of trading 150,000 Bitcoins per day. However, the exchange suffered a hack in 2013, when 850,000 Bitcoins were stolen. McCaleb later sold Mt. Gox to a French developer and focused his attention on Ripple.

Despite being listed on major exchanges, Ripple has seen [a slight improvement](/news/article/xrp-case-price-uk) in its offering and like most cryptocurrencies experienced significant volatility since its launch in 2012. Cryptocurrency has been subject to a lot of controversies, mainly over the issue of centralization.

While Ripple's decentralization makes it an excellent solution for certain financial institutions, critics have been sceptical of the centralized currency. In addition, Ripple has been accused of selling securities. Its network is said to process transactions in five seconds.

To buy XRP, you must use a cryptocurrency exchange such as Binance. The exchange offers more trading pairs than any other exchange and constantly adds new ones.

## XRP as a payment solution

[XRapid uses the digital asset XRP](https://ripple.com/insights/xrapid-brings-on-three-new-exchange-partners/) to allow real-time payments. Both services enable banks to send money to emerging markets without using local currencies. 

The underlying technology also dramatically reduces the capital requirements required for liquidity. XRapid offers a scalable, reliable liquidity solution for enterprises. The company's early tests have shown significant savings in the money it costs to send funds between countries.

Since launching the XRapid network, Ripple has signed up three financial companies to use its technology. These companies include MercuryFX, a payment company in the United Kingdom, Cuallix, a money transfer company, and Catalyst Corporate Federal Credit Union, which serves over 1,400 credit unions in the U.S.
Mercury FX, which uses the XRP platform, has expanded to new markets, including the Philippines and Mexico. The company is pursuing an aggressive marketing campaign to reach out to these markets.

XRapid service uses XRP, the third largest cryptocurrency by market cap, to enable faster and cheaper payment. Ripple has been working with banks for several years to use their Ripple blockchain-based technology.

[XRP](/news/tag/xrp/2)s blockchain-based rails provide a good use case to make traditional financial transactions systems faster and cheaper


Ripple's place in the crypto market

Ripple native token XRP has consistently stayed in the top charts as one of the most valuable coins on [Coinmarketcap](https://coinmarketcap.com/currencies/xrp/?period=7d) for the past two years, with a market cap of over $ 18 billion and occupying the 6th position on Coinmarketcap.

The initial growth and buzz around XRP has slowed down in the past due to legal issues with the SEC (Security Exchange Commission).

Ripple has been embroiled in a row with the watchdog of the SEC since 2020, and it seems like the case isn't ending anytime soon.

## The genesis of the SEC court case with Ripple

The SEC court case with Ripple is based on the belief that the $1.3 million raised by Ripple is illegal because it classified XRP, the native token of Ripple, as a security and not a digital asset, which has placed XRP under stringent security laws.

## SEC's position on the court case

SEC's stance on the court case is that the way in which Ripple raised their ICO with XRP is illegal, as contained in the documents released to the public on December 20, 2020, which include a [detailed report](https://www.sec.gov/news/press-release/2020-338) on the charge against Ripple.
 
However, Ripple, in response, claimed; 

As stated in their [whitepaper](https://whitepaper.io/coin/ripple), XRP, the native token of Ripple, is used for cross-border payment and is available on exchanges worldwide.

## Latest court update

In the latest XRP court case update, SEC seems to have suffered a setback, one of the series it has suffered since the start of the court case with Ripple. In their latest animosity, Judge Netburn approved Ripple's motion to authenticate SEC officials' public remarks. 

Netburn also ruled that expert's identity should not be sealed.

According to James K.Filan, a defence lawyer who has been sharing critical updates about the Ripple vs SEC lawsuit on his Twitter account.

"A letter from the SEC asks the parties to seal portions of their oppositions to Exclusion Motions that contain information identifying SEC experts and some financial information about one of the SEC Experts."

One of Ripple's defence attorneys is Mary Jo White, the former chairman of the SEC. Having someone who has occupied an important position in the SEC as a defence attorney proves that Ripple is not treating the XRP court case unseriously.

## Implications of the XRP court case on the cryptocurrency industry

The cryptocurrency community is looking at how the Ripple and the SEC case will end with keen interest, as it will have a ripple effect on the [legal status of cryptocurrency](/news/article/xrp-case-price-uk) in general.

Regardless of the case's outcome, the status of some cryptocurrencies will surely change to being [classified as a security or commodity](/news/article/sec-crypto), leading to a significant disruption in the cryptocurrency industry.




Ripple vs SEC: XRP latest court case update

On 22 December 2020, the US Security and Exchange (SEC) [filed a lawsuit against Ripple Lab](/news/article/ripple-xrp-latest-news), the company behind the Ripple Network and XRP tokens, and two of its executives. According to the SEC, Ripple executives held an Initial Public Offering (IPO) of XRP, which was unregistered security.

## The SEC claims to the XRP case

The SEC took Ripple Lab to court because they claimed XRP tokens are securities. The tokens were classified as securities since they were used to fund Ripple’s platform, which facilitates money transfers for retailers. The sale of the tokens also enriched the platform’s management.

The tokens also satisfied the Howey Test, a test that aids in determining whether an asset is a security. As securities, XRP tokens were supposed to have been registered with the SEC and certain financial information publicly disclosed. Ripple Labs failed to adhere to the SEC securities requirements.

## Ripple’s response to the XRP case

Ripple, through its lawyers, claimed that the SEC never warned nor gave fair notice that XRP tokens were securities. The SEC admitted no statement was made that XRP could be classified as securities.

Ripple also claimed the SEC was biased in applying the security concept on [XRP tokens](/news/article/xrp-case-price-uk). The company pointed out some of the links SEC members have had with other crypto platforms, especially Ethereum. 

There is still no proof to Ripple’s claims that the SEC gave Ethereum a pass on securities legislation, saying it operates in a decentralized manner while suing Ripple is suspicious.

## The XRP case so far

Ever since the SEC took Ripple to court, the company, through its lawyers has been trying to get the case dismissed.

On May 4th 2022, Ripple, again, filed a motion to dismiss the SEC’s charges. Reason for the case dismissal was the SEC’s failure to state claim against Ripple.

Attached to Ripple’s dismissal motion was a letter from an unidentified third-party. The letter claimed the SEC’s lawsuit against Ripple could have a negative impact on the US financial system.

According to the letter if the court was to conclude that XRP tokens are securities it could stunt the growth of blockchain technology and cryptocurrencies in the United States.  

A lose for Ripple would result in the secondary market for XRP tokens ceasing to exist and many US investors who hold them would be left with worthless assets.

In a bid to prove XRP tokens are not securities Ripple asked the SEC to release emails related to a 2018 speech by former SEC director William Hinman in which he argued Ethereum was not a security.

A judge ordered the SEC to release drafts of the speech and related emails but the SEC argued the communications were protected by “attorney-client” privilege. On July 12th the SEC’s appeal for protection from disclosure of William Hinman’s speeches was dismissed.

The SEC has also failed to block XRP holders from aiding in the XRP case. The [court dismissed the SEC’s motion](https://forkast.news/headlines/sec-fails-xrp-holders-aiding-ripple-case/) to revoke the “friends of the court” status granted to XRP holders.

So far Ripple Labs seems to have the upper hand in the XRP case. The company through its lawyers has further accused the SEC of using unfair tactics to try and prolong the case.

## Bottom line

The Ripple lawsuit is one of the most followed cases in the crypto space. The decision of the case is vital to the crypto space as it could be a win or lose for the industry. 

So far, Ripple seems to be winning, considering the unfair tactics the SEC is using to prolong the case. The decision of the case might be reached in 2023.


XRP and SEC case: Where are we now

Familiarising yourself with a new token always seems a daunting task. And this gets even more difficult if you are dealing with a token like [XRPHD](/news/article/xhd-coin-explained), which is listed only on a few crypto exchanges. So, if you are looking to buy it and want to know what the XHD to USD exchange rate is, you might not be able to do so easily.

To make the process simpler for you, here's an easy guide on how to find out the conversion rate of XHD to USD!

## What's an XRPHD coin? 

Before you move on to take any investment decision regarding the XRPHD token, you must get some background information. This token is another project by Ripple Labs which was launched in 2019. They introduced it as an alternative to XRP. The coin works with the conditioned proof-of-capacity consensus mechanism and offers a better decentralised and safer ecosystem. 

## Where to find out conversion price of XHD to USD

If you want to invest in the project, it's essential to know the token's price in USD. The first step for converting the coin's price is finding a trustworthy source that has listed the coin. Currently, one such popular and credible website that has registered the coin is [BeINCrypto](https://beincrypto.com/). Let's find out how you can check what the conversion rate is through this website!  

## How to find out conversion price XHD to USD on BeINCrypto

BeINCrypto is a crypto news website that has listed the XRPHD tokens on its rankings. For finding out the price approximation of the token in US dollars through the website, you can follow these simple steps:

1.	Firstly, you need to find it on its website. You can easily do that through the search bar. Or you can directly go to [this link](https://beincrypto.com/convert/xrphd-to-usd?amount=1).

2.	It will open a page with all the information related to the coin. Here, look for the conversion calculator. 

3.	Now, type the amount of XHD you want to convert to US dollars, and it will automatically calculate it for you. 

4.	Also, through this BeINCrypto exchange rate calculator, you can also check the USD to XHD rate. 

## Bottom line

Currently, XRPHD is not readily available on crypto exchanges. However, you can check out the XHD to USD exchange rates through the BeINCrypto website. It offers a crypto conversion calculator through which you can check the price of any token against a fiat currency or other digital token. As per the current conversion rate, the XRPHD's price in US dollars is only $0.00000146. 




How to find out the conversion rate of XHD to USD

After the launch of RippleNet's On-Demand Liquidity (ODL) with foreign exchange provider Travelex, Ripple's XRP token will be used to facilitate fast and low-cost cross-border transactions in Brazil.

On 18 August 2022, Ripple announced that the foreign exchange company Travelex currency services would use RippleNet's ODL to facilitate XRP-based cross-border payments between businesses.

Furthermore, Travelex Bank was cited as the first Brazilian financial institution authorized to deal solely in foreign exchange by the country's Apex bank. [Ripple](/news/article/xrp-case-price-uk) claims this is the first time a Latin American bank has used ODL.

However, other Latin American businesses like Banco Rendimento, Remessa Online, Frente Corretora, and Banco Topazio have used RippleNet services. For now, Travelex will only facilitate these payments between Brazil and Mexico.

Still, the company has plans to expand into other countries in the region and develop additional use cases tailored to the requirements of businesses.

## Travelex currency services and Ripple targeting the Brazilian market

News of the development follows the April 2022 passage of Brazil's first "Bitcoin law," which sought to establish a regulatory framework for treating virtual currencies. The Brazilian central bank is also launching a digital currency (CBDC).

However, economist Fabio Araujo believes that the CBDC "will be able to halt bank runs and impose other restrictions on citizens' access to money," even though this decision has been met with much opposition.

Brazil's adoption of a crypto-friendly regulatory framework and rising institutional interest in digital asset solutions make it a great fit for the ODL, [according to Ripple CEO Brad Garlinghouse](https://cointelegraph.com/news/ripple-partners-with-travelex-to-launch-enterprise-crypto-payment-service-in-brazil). Ripple sees Brazil as a crucial market because of the country's strategic location as a hub for Latin American trade, its tolerance of cryptocurrencies, and the government's efforts to foster the development of the fintech industry on a national scale.

For this reason, there has been a flurry of activity in the market as institutions rush to adopt crypto and blockchain technology to address customer concerns.

Travelex currency services adoption of the ODL service will greatly improve the efficacy of cross-border payments, which currently total over $780 billion per year and are directed to Brazil,  according to Garlinghouse.

We've always emphasized creating solutions that have real-world value. We're thrilled to work with a forward-thinking partner like Travelex Bank to facilitate faster and more secure money transfers in Brazil.


Travelex currency services partner with Ripple

Ripple entered the crypto space back in 2012 as a promising project. It offered a low-priced, fast, and cross-border money transferring service that gained great popularity. However, in 2020, it faced a severe [lawsuit](/news/article/ripple-xrp-latest-news) from the Securities and Exchange Commission (SEC) in the United States. The case is yet to be concluded, but it has affected the popularity of XRP.

Ripple faced a lawsuit because it deviated from its fundamental goal of providing secure cross-border money transferring service. However, its impact on the token’s price is still unclear. So, if you are wondering about the XRP price in the UK, here are some insights!

## What is the SEC vs Ripple case?

The US’s Securities and Exchange Commission (SEC) filed a case on Ripple Labs in December 2020 for raising funds through XRP. In 2013, the firm allegedly raised more than $1.3 billion through illicit means. The complaint from the SEC involved charges against the current and previous executives for making gains. 

## SEC’s complaint

As per the SEC’s complaint, the company raised capital by holding its native token’s Initial Public Offering (IPO) without registering it as a security. The firm sold XRP as an unregistered security to the investors. Investors bought the tokens considering their shares in a venture, hoping their price would gradually increase.

According to the [SEC press release](https://www.sec.gov/news/press-release/2020-338) ‘Ripple allegedly distributed billions of XRP in exchange for non-cash consideration, such as labor and market-making services. According to the complaint, in addition to structuring and promoting the XRP sales used to finance the company's business, the founders Larsen and Garlinghouse also effected personal unregistered sales of XRP totaling approximately $600 million’. SEC advocates that these tokens should be classified as securities rather than utility tokens.

## Ripple’s Stance

On the other hand, Ripple claims that the SEC did not warn the firm about the issue. According to its lawyers, the SEC did not notify Ripple’s executives about the classification of XRP as a security. The US regulator also confirms this stance. 

Moreover, lawyers also claim that the SEC has been biased towards the firm. They have claimed that various crypto firms like Ethereum have connections with a few SEC members. However, it has not been established in court yet.
 
## What will be the implications on XRP price (UK)?

So far, the US court has not announced a date for giving the verdict, but the case is approaching conclusion. The proceedings of the case might not only affect Ripple Labs but can also negatively impact the crypto market. The reason is that if the court weighs in with SEC’s claim of XRP being declared a security, it would also apply to various other virtual currencies working with the exact mechanism. 

If the court declares the token a security, the XRP price will come crashing down. The XRP price in the UK might not be able to recover. Also, as it can be a legal precedent for all the countries, it will likely affect the entire crypto market. Moreover, Ripple can question Ethereum too, as it can also fall under the definition of security. This might further aggravate the ongoing crypto winter. 

Nonetheless, this would be the case only if the SEC wins the case. Otherwise, if Ripple Labs wins this court battle, we might see the XRP price (UK) getting strengthened. 




SEC vs Ripple case influence on XRP price in UK

Here’s a crypto market round-up for the past week with some highlights you might have missed.

## A Buying Opportunity for Ripple (XRP)?

Earlier this week, Ripple CEO Brad Garlinghouse said that his company was making significant enough progress in the company’s legal battle with the US Securities and Exchange Commission (SEC) to make him think the lawsuit would likely end next year. Whatever the outcome, the results of the lawsuit are expected to have a widespread effect on the cryptocurrency industry as a whole.

Thus far, the ongoing legal battle between the SEC and Ripple has interfered with the potential of Ripple’s digital coin ([XRP](https://coinmarketcap.com/currencies/xrp/)). The XRP coin has _not_ enjoyed the same rate of success as other lesser-known digital assets, but all things considered, the XRP coin _is_ up more than 130% year-to-date which is quite an accomplishment for such an embattled company.

The XRP has been on a downward trend since hitting a ceiling of 1.35 on Nov. 11th, and if the XRP coin should fall to .85, many believe it would be the key support point for XRP and a good opportunity to buy again.

If the outcome of the SEC affair leans in Ripple’s favour, many believe it would send the market into a massive buying frenzy. If what Garlinghouse says is true, we don’t have much longer to wait.

## Dogecoin - Most “Googled” Cryptocurrency

Continuing our crypto market round-up, we move to Dogecoin.

It can only be interpreted as a ‘positive’ for the cryptocurrency that was originally created as just a joke by a couple of software engineers back in 2013. Dogecoin became the most-googled cryptocurrency in more US states than crypto titans Bitcoin and Ether combined. So, will Doge go up based on recent popularity surges?

According to research by [The Advisor Coach](https://www.theadvisorcoach.com/), a financial advisor, Dogecoin, a cryptocurrency that is based on an internet meme of a Japanese Shiba Inu dog, was the most Googled cryptocurrency in more than 20 states, including Florida, Illinois and Michigan.

2021 has been a great year for Dogecoin thanks largely to mega-boosters like Tesla CEO, Elon Musk, who has made positive remarks about the cryptocurrency on Twitter and has even hinted at the possibly of accepting Dogecoin as a form of payment for his car models. Dogecoin is up approximately 5000% since it was introduced, according to some valuations.

## Crypto Wallet Start-up BRD Bought

Crypto wallet start-up BRD, formerly known as Breadwallet, has been acquired. BRD is behind the digital asset Bread (BRD) and once news of the acquisition by Coinbase was announced, crypto investors were buying.

The price of BRD coin immediately went stratospheric, achieving a 500% plus increase in value within just two hours of the news being announced.

BRD went from approximately $0.16 and peaked just over a dollar per coin ($1.01).

BRD co-founders Adam Traidman and Aaron Voisine said that deal ‘will accelerate the company’s decentralization goals’ and that ‘nothing will change’ for users following the company’s acquisition.



Will Doge Go Up & Is it Time to Buy XRP?

Let’s talk Ripple and XRP.

Earlier this week, the overall market cap of cryptocurrencies hit $3.3 trillion. It’s an amount that merits attention and has further prompted regulators and financial authorities to accelerate the tempo in writing a regulatory rulebook for the market.

However, first they’ll need to cut through their own confusion on how these financial instruments work.

Can _all_ digital assets be categorised as a form of currency or are some them _securities_ masquerading as currencies? It’s one question among many that regulators are asking.

## Ripple Labs

One blockchain company that knows this all too well is San Francisco’s Ripple. A fintech company that popped up a decade ago, Ripple Labs originally promoted a strategy that would offer financial institutions a new low-cost method of performing expedient trans-border money transfers.

To achieve as much, Ripple Labs built the technical infrastructure on which transactions sped across the globe in the form of a cryptocurrency identified as XRP. Ripple created 100 billion units of XRP in 2012 and allotments were sold off while Ripple remained a majority holder.

This is where Ripple found itself in trouble with the Securities and Exchange Commission (SEC). Because of the way in which XRP was distributed, it appeared, to some, that XRP functioned _more like a stock or security_ rather than a currency. By December 2020, SEC chairman, Gary Gensler, had seen enough and initiated a lawsuit against Ripple Labs for how the company distributed XRP, claiming the company was selling an unregistered security, _not_ a currency.

## Lawsuit Causes Anxiety Among XRP Supporters

The pending case initiated a sequence of negative events that cratered the price of XRP and got the asset delisted from many popular crypto exchanges, the most crippling being Coinbase. The lawsuit has continued to drag on causing anxiety among XRP supporters and investor, and many legal experts have said that the lawsuit is unlikely to have an ending this year.

However, Ripple has demonstrated some legal prowess since the lawsuit was filed, accruing small victories in the proceedings while simultaneously attracting troves of new investors who have faith in a favourable outcome. Frankly, at the current rate of mainstream adoption, a settlement deal could be reached at any time and November 2021 is expected to be particularly revealing in terms of what’s next for the lawsuit.

Today will be a crucial as it marks the deadline for the exchange of _Expert Rebuttal Reports,_ an expert analysis of each opposing party’s claims. Once those reports are submitted, the second half of November should be rife with opinions on where the lawsuit is headed and when it might finally get resolved.

Getting down to brass tacks, it seems that Ripple has the momentum and SEC Chair Gary Gensler can’t be pleased with how things have unfolded with his lawsuit. The inability to close a ‘slam dunk’ case against a gritty crypto start-up hardly has any place on a resume for someone who’s vying to be the next Secretary of the Treasury. Will Gensler broker a settlement deal with Ripple? It’s possible.

If so, not only would it be a move that would put XRP right back on the exchanges that delisted it, including Coinbase, it would be a ‘drinks for everyone’ kind of announcement that would send the whole market upward.

More [Coin news](/news/category/crypto-coin-news).

Ripple, XRP Latest News- The SEC Lawsuit

Ripple labs, provider of the leading enterprise blockchain solution for payments, announced a new partnership with Nelnet, a financial services company based in Lincoln, US. 

## New Liquidity Options

Through this partnership, Ripple's xRapid product will provide new liquidity options to ensure affordable, efficient and fast money transfers for the education industry.

"As education is heavily reliant on sending remittances to foreign countries, there's no better partner than Ripple to advance the already existing robust network within the higher education vertical ," said Carol Coye Benson, an executive vice-president at Nelnet.

The Ripple platform provides a seamless experience to transfer money globally with on-demand liquidity, assurance level, and transparency in a fraction of a second through its product xRapid. The investment will fund solar energy projects in the US in order to support a more stable and cleaner energy future for the crypto market.

More [Business news](/news/category/crypto-business-news).


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