Jimmy Aki
Given its strong performance, Ripple (XRP) has remained an asset of interest to investors. While Bitcoin and Ethereum have made minor gains in the past week, the XRP token has now pumped by more than 50%.
Climate Is Key
Ripple has been one of the most outspoken climate awareness companies in the emerging industry. The blockchain, already a key member of the World Economic Forum (WEF)’s Crypto Sustainability Coalition, has added another feather to its cap.
Portland-based carbon-neutral real estate startup Carbon Title recently concluded a seed funding round in which the Ripple blockchain was a key backer. With greenhouse emissions from the real estate industry reportedly at 40%, a solution like Carbon Title would go a long way in helping the industry decarbonise and optimise for the continued well-being of the planet.
Congrats on your launch! Construction accounts for nearly 40% of greenhouse emissions & companies like @Carbon_Title will play a vital role in helping to decarbonize the sector. https://t.co/jID6jc4kRv
— Ripple (@Ripple) September 15, 2022
Ripple has continued to push for a more eco-friendly crypto landscape and markedly committed $100 million to address the exploding carbon footprint of the crypto industry. The blockchain is carbon neutral and wants other blockchain networks also to make the transition.
Sandboxed Digital Dollar on Course
Ripple has grown to become a full-stack blockchain company in the last decade. The remittance-focused business is a key player in the tokenisation of fiat currencies, popularly called central bank digital currencies (CBDCs).
In a recent release by the Digital Dollar Project (DPP), Ripple has been selected as one of the top participants in the CBDC’s efforts advocated for by the non-profit organisation. The event will kickstart in October and aims to explore possible infrastructure solutions for state-sanctioned crypto-like fiat currencies.
The U.S. government is currently looking at launching a digital version of its popular greenback money. Private companies and consortiums like Tether and Circle already offer a version, but this is without the US government’s approval. A CBDC of the US dollar would radically improve cross-border remittance while instantaneously improving international trade settlements across nations.
SEC vs Ripple on Its Last Stretch
Ripple’s XRP has posted good figures since the beginning of September, and in the past week, the digital asset has grown more than 26%. Its daily performance has also flipped greenish despite a broader market downtrend. This is largely due to a growing sense of resolution in its tussle with the SEC.
When the Ripple blockchain was launched in 2012, the goal was to improve global cross-border payment networks by utilizing blockchain technology, in which the company has a significant stake.
However, the founders quickly ran into issues with the method by which they raised funds for the project. The US Securities and Exchange Commission (SEC) formally initiated legal proceedings against the blockchain company in December 2020, under outgoing chair Jay Clayton’s direction. The case has dragged on for nearly two years.
The top US financial watchdog claims that its $1.3 billion ICO event qualifies the XRP token as a ‘security,’ which the company strongly denies.
The direct result of the subpoena was a drop in XRP from its 2021 high of $1.35 to below a dollar valuation. Following the case, several key US cryptocurrency exchanges delisted the embattled crypto asset. Business deals with remittance companies like MoneyGram were also dissolved.
CEO @bgarlinghouse joined @CNBC Crypto World to recap the latest in the SEC v. Ripple lawsuit, recent U.S. regulatory action and what’s next for Ripple’s growth plans. Check out the full interview here: https://t.co/p1xlvMrqsR
— Ripple (@Ripple) September 26, 2022
However, things are rapidly changing. The SEC and Ripple counsel recently filed motions for summary judgement in the Southern District of New York. Both legal teams believe that the accompanying documents hold enough evidence to make a judgement instead of moving to trial.
For all intents and purposes, the #Ripple-SEC case is over. $XRP is not a security.
Once the formality of making this official happens, it’s going to make it very difficult for the SEC to accuse any coin of being a security. This is going to be HUGE for crypto.#xrparmy
— Ben Armstrong (@Bitboy_Crypto) September 24, 2022
Although no stated date has been given, XRP investors are quite excited. If the Ripple team wins the case, the price of XRP could surge above $1 as US Bitcoin platforms would begin relisting it.
Tamadoge Making Huge Strides
New crypto projects are making their debuts daily, and one of the most promising is the Tamadoge project. The blockchain protocol runs on a play-to-earn (P2E) concept where players raise digital pets or non-fungible tokens (NFTs) to battle one another. The winner of these battles gets experience points which can then be transferred to the TAMA network token.
✨ Exclusive #NewListing ✨
Get ahead with #OKX, the FIRST exchange to list #TAMADOGE – the quintessential #memecoin with utility by @Tamadogecoin!
Join the #TamadogeArmy and go breed, care and battle your Tamadoge pets now!
Deposits opening soon ⏳
— OKX (@okx) September 23, 2022
Tamadoge also comes with the capacity to infuse virtual realities through its Tamaverse concept. With this, players can watch, interact, and explore the virtual landscape easily. The project’s potential has drawn investors’ interest, with Tamadoge closing its recent ICO with a record value of $19 million, much more than Ethereum’s ICO investment in 2015.
Additionally, the digital asset is making its debut on the OKX exchange today.
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This article was written for Business 2 Community by Jimmy Aki.
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