Understanding XRP and Ripple XRP is the digital currency used on the Ripple payment network, which was founded in 2012 by Chris Larsen and Jed McCaleb. The network aims to facilitate fast and low-cost cross-border transactions, especially for financial institutions. XRP's Rise to Prominence Despite being one of the oldest cryptocurrencies in the market, XRP seemed to fly under the radar until 2017 when it experienced a monumental price surge, reaching an all-time high of $3.84 in January 2018. This sudden spike in value caught the attention of investors and media outlets, propelling XRP into the limelight. The SEC's Lawsuit Against Ripple In December 2020, the SEC filed a lawsuit against Ripple, alleging that XRP was an unregistered security and that the company's executives had illegally sold billions of dollars worth of the token. This news caused XRP's value to plummet, and several major exchanges delisted it, leading to a significant decrease in liquidity...
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