In the last days of 2020, Ripple was shocked by the lawsuit filed by the US Securities and Exchange Commission (SEC), and prices fell by as much as 20 cents. However, Ripple was born from the ashes after this process.
Following the SEC case, many cryptocurrency exchanges, especially the US-based Coinbase exchange, announced that they left Ripple off the list. With the effect of all these negative developments, XRP prices declined to the 20 cent band. But XRP was born from its ashes and went up to $ 1.96.
The effect of the correction in the crypto money markets, on the other hand, was that XRP prices fell to the $ 1 band. However, this level can be seen as a very good price compared to 20 cents.
In the chart below, we see the change in XRP prices during this period.
Brad Garlinghouse, CEO of Ripple, made important statements about the process in an important media outlet. Garlinghouse, by stating that the world does not consist of the USA, implied that they are prepared for some kind of the worst. As can be predicted, the worst case scenario would be for Ripple to lose the case and the court to decide that XRP is a security. In this case, Ripple will face a serious fine.
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However, Brad Garlinghouse stated that they have developed partnerships with 20 companies since the court began. Despite the court process, Ripple’s foreign partners seem very hopeful about XRP technology and are developing partnerships with Ripple despite the SEC. According to the statements of Garlinghouse, 90% of the businesses that have signed with Ripple are from outside the USA.
Ripple has recently made business ties with a business called Trengo and Azimo . Business connections are based on staking.
Garlinghouse thinks that the trend in blockchain in the future will focus on Central Bank Digital Currencies (CBDC). In this regard, Ripple focuses on this area. In the future, we will perhaps witness that Ripple provides technical support to some countries on CBDC.