john deaton said xrp has overtaken bitcoin
xrp to 50 000 at the moment it's safe to say that cryptocurrency has now become mainstream
bitcoin which used to exist only in a small part of the internet is now one of the most popular
investment assets as the years passed other cryptocurrencies besides bitcoin came to the fore
a recent study shows how popular these altcoins are in places like south korea
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to the end to like and subscribe a study conducted by various leading cryptocurrency exchanges in
south korea has revealed cryptocurrencies in which residents mainly invest this study published its
findings based on the dollar value of digital assets owned by local residents bitcoin has
obviously come out on top as the most popular cryptocurrency among south korean investors
it was discovered that these investors own more than 5 billion worth of bitcoins for a total of
128 828 btc however the shock here will be the cryptocurrency that took second place in the list
ripple xrp took second place as locals reportedly owned nearly four dollars eight billion worth of
xrp tokens altcoin surpassed the second largest digital asset ethereum by about 300 million
dollars with the value of eth owned by investors worth about four dollars five billion ethereum's
competitor cardano took fourth place on this list with investors of about one billion dollars while
the beloved dogecoin meme coin took fifth place on the list with investors owning only doge for about
900 million dollars the study was conducted on four leading exchanges in the region namely bitham
coin one upbeat in corbett it was also discovered that in 2021 alone investors sold cryptocurrencies
worth more than seven trillion dollars which means that cryptocurrency activity in the region was
higher compared to the korean stock market it also surpassed the trading volume of the junior costac
the volume of bitcoins held by south korean investors exceeded what they owned in apple shares
at five dollars 48 billion but came out less than they had in tesla shares which currently make up
an impressive sixteen dollars nine billion worth of shares in a recent interview with bloomberg
brad garlinghouse said that his company is already working as if it lost the fight with the u s
securities in exchange commission according to the executive ripple's record growth is happening
outside the u.s and it is hiring more and more people outside the us according to garlinghouse
the idea that xrp is an unregistered security is erroneous however the token has no liquidity
in the u.s after all exchanges suspended trading in early 2021 according to brad garlinghouse 99
of ripple's customers are payment companies outside the united states lawyer john deaton a
lawyer representing more than 65 000 xrp holders told in an interview with lincto a private
investment company why he decided to support the crypto project according to deaton's lawyer ripple
turned out to be one of the most transparent existing cryptocurrency projects without any
shady transactions according to deaton's lawyer despite the fact that the securities
and exchange commission has been investigating the case against ripple for more than two years
the authorities have so far failed to detect any fraudulent activities related to the project
for 30 months they the sec have been looking at these guys ripple and the individual defendants
brad garlinghouse and chris larson they studied them lawyer deaton said adding they even checked
every transaction made by garlinghouse and larson and every transaction made by ripple between 2013
and 2020 two and a half years later they have not filed a single claim of fraud or misrepresentation
on the part of ripple deaton who spoke out on a number of issues related to the sec lawsuit
noted that he does not think that any other cryptocurrency project can come out flawless if
the securities agency conducts an intensive investigation as was the case with ripple
despite this the sec is not going to drop its accusation against ripple and its executives
for conducting an unregistered securities offering as a result of which the company raised one dollar
three billion while the sec is adamant that xrp ripple is a security the blockchain company thinks
otherwise and is ready to prove this fact in court after recent events an order was
issued last week on a joint schedule according to which the trial can be extended until next year
interestingly the development did not prevent xrp investors from supporting ripple they believe that
the lawsuit will end in favor of the blockchain company and the value of the digital currency
will increase dramatically the uncertainty of the cryptocurrency market is very often reflected in
the assets that people choose to invest in and xrp seems to have become a beacon of the same
since last year the cryptocurrency market has experienced not one or two but four bullish phases
and xrp has failed to deliver sustained growth in all of them xrp wins and loses regardless of
the growth during the rally the subsequent price drops nullified all the growth and
consequently today xrp has reached an even lower price than a year ago trading at zero dollars
6644 the coin is moving further away from its historical maximum of one dollar nine as well as
from one dollar which is considered a critical and psychological level and not once since the
beginning of 2022 has xrp actually even touched it now that it's the second quarter of the year
it looks like it might actually be a long time before the same thing happens
many signals of favorable price movement come from investors themselves networks with active
investors tend to grow more steadily but unfortunately this did not happen with xrp
transaction statistics which rose sharply in november and again in february fell again to one
two million this month this is due to the fact that the number of investors
who actively participated has decreased at the time of writing less than thirty four thousand
addresses were active on the network and to tell the truth they are not to blame here either
since they do not have a special incentive to be active the live xrp price today is zero dollars
eighty-eight u.s dollars with a 24-hour trading volume of three billion seven hundred and forty
million us dollars we update our xrp to usd price in real time xrp is down zero four percent
in the last 24 hours do you think xrp will be able to win the court and restore its former price
write the answers in the comments that's it for today thank you for watching this
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