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XRP Is a Security That Allows Ripple to Acquire Businesses: Crypto Influencer

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  • Alex Dovbnya
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    Crypto investor BitLord puts Ripple on blast for "dumping" XRP on their community, claiming that the token is a security

XRP Is a Security That Allows Ripple to Acquire Businesses: Crypto Influencer
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BitLord, one of the most prominent influencers on crypto Twitter, recently addressed the elephant in the room when it comes to Ripple's XRP. He claims that the third biggest cryptocurrency by market cap is, in fact, a security, something that Ripple vehemently tries to deny.

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"How is this legal?"

During an interview with CNN, which took place back in September, Ripple CEO Brad Garlinghouse insisted that they couldn't control the price of the company's native token. Moreover, he pointed to the fact that Ripple was the most interested party in the success of XRP as its biggest holder.

However, BitLord is certain that Ripple dumps XRP on its community in order to finance the acquisition of real-life businesses. As reported by U.Today, the crypto behemoth recently completed its $50 mln investment obligation in old-school money transfer company MoneyGram. However, according to the naysayer, XRP holders do not have any rights to Ripple or MoneyGram. 

He also questioned the legality of such actions, and crypto analyst Alex Krüger was quick to take a jab at XRP. 

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Ripple's XRP to Be Used for Cross-Border Payments in Southeast Asia, Latin America, and Africa

Ripple's XRP to Be Used for Cross-Border Payments in Southeast Asia, Latin America, and Africa

The big question 

There is a pending class-action lawsuit against Ripple, which was filed by XRP investors who lost big due to the token's depreciating prices. The company's attempt to throw the suit out of the court didn't fare well

Back in August, Garlinghouse addresses pervasive FUD, claiming that XRP was "clearly" not a security. The Financial Conduct Authority (FCA) classified XRP as an exchange token, but the US Securities and Exchange (SEC) is yet to voice its take on the matter.   

Meanwhile, despite all legal questions, XRP continues to reach new milestones, recently shattering its daily transaction volume record.     

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls

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  • Alex Dovbnya
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    The Bitcoin price could soon touch $7,800 if bulls persist, but this move could be a short-lived one

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls
Cover image via u.today

Popular crypto trader Wendy O recently predicted that the price of Bitcoin would "rocket up" if it managed to surge above the $7,400 level. 

Bitcoin Price
image by @CryptoWendyO

Shortly after that, the BTC price did rise above the aforementioned level, currently sitting at $7,444, according to CoinStats data

Bitcoin Price
image by coinstats.app

If the aforementioned forecast turns out to be accurate, Bitcoin traders could soon see another fakeout, which would be similar to the one that took place on Dec. 4. As reported by U.Today, BTC printed a massive green candle in less than a minute, but this unexpected pump quickly evaporated.     

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Earlier today, multiple traders predicted that Bitcoin was about to make a big move in either direction, but $7,800 seems to be the main area of interest for them. The leading cryptocurrency hasn't touch this level since Nov. 30. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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