While the crypto market has had mediocre results throughout the year, it has become extremely negative for cryptocurrencies in July and August of this year. 39; year. While many took the opportunity to say that the scrambled are showing their true colors, the reason for this decline is the SEC's decision to postpone the announcement of the ETF. Furthermore, the regulatory stalls that have begun to appear all over the world have contributed to the situation.
With all these things happening at the same time, it is not surprising that the market has barely become the shadow of what was in the past in December 2017 and January 2018. At that time, the total market capitalization exceeded $ 800 billion, while now it is barely over $ 200 billion. At that time, Ripple's price reached $ 3.82 per coin, while it is now only valued at $ 0.325.
Ripple (XRP) AND SEC
Ripple had its fair share of problems and disputes, the most important being with SEC and XRP's allegations on security. While it seems that these accusations are dying late, many are still suspicious and doubtful. However, many people have pointed out that the SEC has never actually erased the Bitcoin and the Ethereum of not being titles.
Instead, SEC officials simply declared their opinions verbally, and that was the end. For this reason, the classification of criptos and titles is not yet firmly established and, therefore, Ripple did nothing wrong. Although this is still just a theory of the XRP community, an individual has somehow confirmed this by sending an e-mail to the SEC. They received an answer stating that all statements regarding Ethereum were provided by people working for SEC, and not for SEC itself. As such, the SEC will not take responsibility for these statements, which substantially make them irrelevant to the Commission.
Ripple not underestimated
Ripple is useful. This is a fact, and can also be demonstrated by numerous partnerships between Ripple and various exchanges, banks and financial institutions. Names like Bitso, Bittrex and Coins.ph have joined Ripple to use its xRapid product in countries like Mexico, the United States and even the Philippines.
Basically, when xRapid becomes fully integrated and operational, all cross-border transactions that were (and still continue) last 2 or 3 days will be completed in minutes. The XRP will be used as a source of instant liquidity, which will make it invaluable once everything has been put in place. Bittrex himself seems to be convinced of the utility of Ripple, who can be seen in his decision to list XRP / USD trading pairs.
Ripple was also defined as the fastest digital asset when it comes to sending money between different exchanges. This has even inspired the money community to create a petition on Binance, in which they ask for the exchange to add the currency to its list.
Ripple Reports with VCTRADE and SBI
When we take a look around the world, we can see that Japan SBI Holdings has been collaborating with Ripple for years. Not only that, but they have also launched an exchange called VCTRADE, which is based on XRP. Also the SBI has not stopped here and have even invested in various companies in the United States and Canada.
They invested in Clear Markets in the United States, a North Carolina company. Their plan is to create an exchange of derivatives that would allow institutional investment products to be influenced by the price of Bitcoin, and probably also by Ripple. As for Canada, the company invested in a company called Lancium Technologies. This is a company that is supporting the crypt by providing them with wind energy
Obviously, all these developments and events are doing Ripple not only useful but also necessary for the further advancement of these technologies. Obviously, with its low price, Ripple is still seriously underestimated.
However, this may not always be the case, and once the controversies have been clarified, and the market in the right state of mind, Ripple could finally be able to really take its place as a third coin largest in the encrypted world.