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Ripple's judicial proceedings have been relatively quiet in recent times, we can only expect this to be the result of Ripple's legal representatives who pay close attention to the PR and the damage control surrounding the XRP security saga.
To refresh the memory, as it is, Ripple is involved in a series of lawsuits accusing the company of issuing an unregistered security in XRP. This is on the assumption that Ripple owns a portion of XRP token. This notion is one of the problems that Ripple is currently facing with regards to the growth of XRP and, indeed, regarding the XRP, we see large listings on exchanges like Coinbase.
The community of cryptocurrency is divided on this, many believe that XRP should be classified as a security – something that could have a dramatic impact on XRP and Ripple, while others believe that it is actually just an attack on Ripple and that XRP does not host any of the features of a security.
According to reports, the Rosen law firm is the next company to follow legal proceedings against Ripple Labs. The company issued a press release highlighting some of the justifications and objectives of companies in the preparation of this case. According to the official press release:
"Rosen Law Firm, an international law firm for investor rights, announces that it is investigating whether Ripple Labs, Inc. has violated federal securities laws in connection with the sale of Ripple XRP tokens The law firm Rosen is preparing a collective legal action to recover the losses suffered by buyers of Ripple XRP tokens.If you purchased Ripple XRP tokens, visit the company's website to participate in the event. collective action.You can also contact Phillip Kim or Zachary Halper of Rosen law firm at 866-767-3653 or by email at [email protected] or [email protected]. "
Also:
" The Rosen law firm represents Investors across the globe, focusing its practice on securities-based shares and litigation derived from shareholders The Rosen law firm was ranked No. 1 by the ISS Securities Class Action Services for the transaction number of securities class shares in 2017. The company has been ranked in the top 3 every year since 2013. "
You can see the full statement on the Rosen Legal Website, here .
This is bad news for Ripple and even worse news for XRP. More lawsuits and more actions are being taken against Ripple and XRP, the more difficult it will be for Ripple to actually win this case. As long as these shares are active, XRP will not see any significant new exchange of cards, nor is it likely to see any dramatic price gain; instead, XRP is simply left to stagnate in what appears to be an already poor market. [19659002] At the time of writing, XRP has a value of $ 0.341, down 3.08%, down from its ATH of $ 3.84, getting closer to its average level, close to $ 0.15 .
