XRP is still very under-priced. It’s well under a dollar at the minute and it looks like the banking partnerships are not affecting the price of the coin on the market. There are Ripple investors who are asking questions every single day, and these include whether or not they should be investing in Ripple and even if their investment is actually going to be worthwhile. XRP really is being undervalued at the moment and the closest that it has come to reaching the $1 mark was on April 25th. It was valued at $0.957 and this was over 0.043% shy of the $1 mark. This could indicate that there are good times ahead but there really is no telling as to whether or not this is the case. XRP has really not made a similar attempt at breaking the barrier and at the moment it is trading at $0.81. This ultimately means that it is trading at 1.79%.
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So what is going on with all of this? To begin with, the coin is under attack and there seems to be a never-ending claim that Ripple is scamming people. A class action suit was filed in California and a lot of people have stated that they are carrying out an offer that had not yet been registered offer for the sale and security of products. This is under the US Securities Act. They are also being sued for carrying out a violation against section 25110 and then 25503. As if that wasn’t enough, they are also in violation of section 15 and section 25504. The main issue here is that this lawsuit is not going to hold any weight if Ripple cannot class themselves as a security.
A security is an interchangeable financial instrument. It is also very negotiable as well and it holds some monetary value. It represents the ownership of a position from a publicly traded company through stock. A creditor relationship also needs to be present and they need to be represented by an option as well. Using this definition, it is very easy to see that Ripple does not fit the bill. The parent company is not traded via stocks and the lawsuit cannot withhold any weight for this reason at all. What’s left now is that the lawsuit could end up setting a precedent for any other cryptocurrency cases. The judge who is listening to this case may finally come to realise that Crypto does not have any written regulations and that there is no law for judgement to be passed on.