The SEC has been paying extra attention to cryptocurrencies since the 2017/2018 ICO frenzy. They have already started punishing ICO issuers who issued tokens that fall into the unregistered securities category. However, nothing has been said about XRP, the third largest cryptocurrency in the world per market capitalization. Since XRP shares some similarities with security tokens, there is the possibility that it may eventually be deemed a security. If this happens, the XRP price prediction 2019 will be dramatically impacted.
XRP (XRP) Price Today – XRP / USD
Brad Garlinghouse, the CEO of Ripple, has verbally declared that XRP is not a security. However, his words don’t count as only the SEC has the power to decide if XRP is a security or not. Even if Ripple Labs controls over 60% of the XRP in population, the Silicon Valley tech company insists that it has no direct relationship with the token. What this means is that in the event that Ripple falls, the XRP token will not fall along with the company. It would stand alone. This is a little hard to believe considering the fact that Ripple falling would affect 60% of the XRP in existence. Let’s not forget that the xRapid technology, which is expected to be the vehicle that drives XRP into massive adoption, will fall with Ripple. So, what would happen to the XRP price prediction 2019 if XRP is declared a security?
XRP News Today – XRP Price Prediction 2019 – What If XRP Is A Security
Some digital asset investors are worried that XRP might be deemed a security and this would affect the XRP price prediction 2019. So, in our XRP news today, we are going to talk about what would happen to the XRP price forecast 2019 if XRP is a security. The XRP SEC saga may have died down a little but digital asset investors are still concerned about the XRP security status.
If XRP is declared a security, Ripple Labs would be ordered to pay a fine for selling unregistered securities. They would also have to give each XRP investor a share in the company. The price of XRP would most likely fall significantly right after due to panic sell-off but it would recover stronger afterwards.
What are the odds of XRP being declared a security? XRP looks suspicious. However, the owners of Ripple Labs don’t promise the digital asset investors that the price of the token would rise on purchase. The XRP token was created to serve as a transfer of value and as liquidity for the decentralized financial system Ripple has created. So, there is a 50/50 chance of XRP being declared a security. For now, the XRP SEC saga will continue until further notice. Source: Smartereum
XRP Price Prediction 2019 – XRP News Today- xRapid’s Regulatory Approval in the US
According to the Todaysgazette; Ripple XRP payments through their partner exchange Bitstamp has been approved and now they can offer their services in New York. The approval was given by the New York State Department of Financial Services (NYDFS) who has given the exchange operating ability in New York.
With the operating license Bitstamp has received xRapid, Ripple’s payment protocol will be able to facilitate cross border transactions between banks, thus a positive boost for the XRP tokens. This news might just be a sign of optimism for ripple XRP price. The NYDFS wrote in a statement:
“DFS has authorized Bitstamp USA to offer services providing its customers with the ability to buy and sell bitcoin, along with select other virtual currencies, for USD and vice versa.”
The Securities and Exchanges Commission (SEC) has failed to decide on whether the XRP token is a security token or not. The XRP security status was not clearly specified in the SEC’s recent ICO token guideline.
As it stands, XRP is already winning in some areas as the World Bank approves it’s payment tool, xRapid for quick funds transfer. The World Bank had tested xRapid earlier in 2018 and has approved it for quick funds transfer due to its near-instant payments ability. Hopefully, this new move by Bitstamp will get XRP soaring according to positive predictions.
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