Ripple is a blockchain-based digital payment network and protocol. XRP is its native token.
United States District Judge Anaelisa Torres of the US District Court for the Southern District of New York on July 13, 2023, ruled Ripple’s Lab token, XRP, was a security when sold to institutional investors. However, XRP is not a security when sold to retail investors using digital asset exchanges.
On September 29, 2023, Ripple hosted a celebratory party at the Hammerstein Ballroom at 311 W 34th Street in Manhattan. The party was to celebrate the ruling in Ripple’s favor of XRP not labeled a security.
People told me I was one of the first fifty people to enter the venue, but I can honestly say I was one of the first hundred who entered. I was lucky enough to get a free ticket. The celebration was epic. Meeting ordinary people who bought XRP because they believe it holds institutional utility is something to remember. Meeting ordinary people who understand the use case realize that they will benefit greatly financially. People from humble lifestyles know they placed themselves in a more secure financial position. XRP offers the bridge to convert and move money abroad. From financial institutions to retail transactions, XRP converts all currencies almost instantly for a fraction of a penny.
2023 The Proper Party in NYC
Your gateway to the XRP Ledger – The home of XRP – https://xrpscan.com/
Crypto exchange applications and bank apps allow people to move money from one wallet address to another. The digital monetary system is here. Most people don’t see the transition into digital currency because they can access their money. Banks are introducing CBDCs (Central Bank Digital Currency) into people’s saving and spending habits, and those are people who don’t realize they are using new money. People who understand what is happening buy digital currency (utility crypto) at rock-bottom prices. It is like buying Amazon, Google, and Microsoft stock before they went IPO. The transition into digital currency is an opportunity to invest in the new money.
Because of the 4th industrial revolution, the technology used to produce the new money system is another opportunity to invest at prices that a modest paycheck can buy. Early investment into AI (Artificial Intelligence) and Blockchain infrastructure can take a paycheck-to-paycheck person to a lifestyle of less financial stress and comfort.
I got a little bit off track. However, the transition into a new financial system is here. XRP is Ripple’s native token. Ripple is the real-time gross settlement system of currency. XRP is the token that converts any money to another currency. During a transaction process, funds are locked securely on a bank’s ledger, acting as an escrow account until the transaction executes or fails if specific criteria are unmet. Ripple shares the transaction outcome with the bank, which updates its ledgers. XRP’s utility is to bridge all currencies. Ripple’s XRP native token allows financial institutions a more cost-effective way to convert and move money.
I consider myself a lucky person who came across XRP in the semi-early stages of its popularity. The majority of XRP I bought was under $0.50. Securing such a valuable asset will allow me to live a more comfortable lifestyle without worrying about money.
Ripple is a real-time gross settlement system, currency exchange and remittance network that is open to financial institutions worldwide and was created by Ripple Labs Inc., a US-based technology company.