​​Is Ripple waiting for its soon drop?

​​Is Ripple waiting for its soon drop?

By

While everyone shares positive news about the new achievements of Ripple, the real fate of the cryptocurrency is solved in the judicial walls. Soon, the New York court will consider the claim of the company R3 against Ripple, following which R3 can receive 12.5% ​​of the total volume of XRP, which is in circulation.

The conflict between the companies began after they could not agree on a partnership. By that time, an agreement had already been signed, according to which R3 obtained the right to buy out 5 billion XRP tokens at a price of $ 0.0085 by the end of 2019. Ripple Labs tried to terminate the contract unilaterally, which led to a lawsuit from R3. Ripple filed a counterclaim in San Francisco, but the court rejected him. Now the last decision is up to the court in New York.

If the decision is made in favor of R3, the company will receive 5 billion XRP tokens, which at current rates cost about $ 3.5 billion, at a price of only $ 42 million. In this case, the market will respond with a sharp drop in the cryptocurrency, which is now considered one of the most promising.

Leave a Comment

Your email address will not be published.

You may also like

Hot News