Why Ripple is Worthless (And Some Other Coins As Well) (2024)

FAQs

Why Ripple is Worthless (And Some Other Coins As Well)? ›

The reasons are that it is centrally controlled, intransparent, isn't mined and is controlled by a company. However, for Ripple's purpose, those are not bad things. After all, for 45 years banks have been doing very well with a centralized Swift.

With or without an American market with reasonable regulations, Ripple should gain value over time from its international footprint. On top of the border-crossing payments solution, the cryptocurrency also serves as a solid platform for central bank digital currencies (CBDCs) and other crypto-based financial systems.

XRP's regulatory issues

According to the SEC, XRP is a "security," and it is doing everything in its power to regulate it as such. That's terrible news for investors. It means that XRP's core business operations have been sidelined in the United States until this regulatory mess gets cleared up.

The SEC sued Ripple, its CEO Brad Garlinghouse and co-founder Chris Larsen in 2020, accusing them of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. The SEC dropped its remaining claims against Garlinghouse and Larsen in October.

Can Ripple Exist Without XRP? Ripple, the company, could continue to exist without XRP. In addition to creating the RCL Ripple built a suite of products called RippleNet that are marketed to banks, payment providers and digital asset exchanges as frictionless way to send money globally.

Ripple's rocket ride may be risky

But it would be a mistake to expect skyrocketing prices in 2024, and $5 is an unrealistic target for the next few years.

The XRP price analysis on this chart look conservatively positive at the moment, with what seems like a slight climb likely precipitated by the 2023 year end Crypto rally. 2024 looks to be a potentially exciting year, as XRP's market cap has gone up to $33.256B as 2023 comes to an end.

The design choices behind XRP lead us to believe that it was crafted to operate at $10,000 and cater to a truly global market.

Lastly, as per the XRP Price Prediction 2030, XRP's price is forecasted to range between $13.80 and $16.24, making an average of $15.02. This long-term optimistic view hinges on Ripple's increasing global recognition and adoption.

July 13 (Reuters) - Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring.

What happens if XRP loses lawsuit? ›

However, if Ripple loses all appeals, the SEC is likely to collect the $1.3 billion (the amount that the regulator alleges that Ripple earned from the unregistered securities sale) and offer XRP holders an option to sell their holdings.

Our most recent Ripple price forecast indicates that its value will increase by 23.38% and reach $0.674785 by April 24, 2024.

Bitcoin has long dominated the crypto market chart as the #1 cryptocurrency, while XRP generally maintains its position as top-5 ranked crypto by market capitalization. For XRP to surpass Bitcoin, it would need to see massive growth in its market cap from currency levels.

The following banks are confirmed to have been working with Ripple: Santander (USA) Canadian Imperial Bank of Commerce (Canada) Kotak Mahindra Bank (India)

By leveraging its digital asset XRP, Ripple enables near-instantaneous transfers across borders, eliminating the need for intermediaries and significantly reducing transaction costs. Bank of America recognizes the immense potential of Ripple's solutions to reshape the traditional banking landscape.

Built for enterprise use, XRP offers banks and payment providers an efficient, scalable, reliable liquidity option to service cross-border payments.

By the end of 2023, the price of XRP might reach $1.50 if #Ripple prevails. On the other hand, if the SEC succeeds in its action, Ripple will be subject to a harsh penalties and the price of XRP may drop significantly. Legal authorities have contended that XRP's price might drop dramatically if the SEC wins the appeal.

Can XRP price reach $100? While it's theoretically possible for XRP to reach this price, it would require substantial market shifts or a major supply reduction. If the project were to reform significantly to drive value to the XRP token, there is every chance that XRP could soar to new highs.

Ripple's rocket ride may be risky

But it would be a mistake to expect skyrocketing prices in 2024, and $5 is an unrealistic target for the next few years. The true wealth-building gains will come in the long haul, as RippleNet expands to more countries and becomes more widely used.

It is possible for XRP to reach $1,000 USD, but it is highly | CRYPTO_KITE on Binance Square. It is possible for XRP to reach $1,000 USD, but it is highly unlikely in the near future.