If anyone had given up on it Ripple, after the announcement of the lawsuit filed by the Securities and Exchange Commission (SEC) of the United States against the Californian company, for the sale of unauthorized securities, it seems that things are going in a completely different direction. Over the last 24 hours, in fact, XRP was up again in the order of 4,34% to reach $ 1,04. To better understand the moment the token passes through, however, it is necessary to remember another data, much more significant: over the last year, in fact, Ripple increased its market capitalization by 390%, surpassing the 48 billion dollar mark. So much so as to push analysts to ask themselves the reasons for this real boom.
Why is Ripple growing with this intensity?
As for the last few days, the answer to the aforementioned question has been identified in a very specific fact. That is in the statement released by Brad Garlinghouse, according to which once the lawsuit with the SEC is settled, the company should become a public company. A goal to be achieved through an initial public offering (IPO), as has been done recently by other companies in the space crypto, as Coinbase. Which, not surprisingly, was praised by the CEO of Ripple Labs in a recent interview.
However, this announcement is only a short-term growth factor. While on the average to be heard is above all the change of atmosphere as part of the lawsuit the company is facing.
How is the lawsuit filed by the SEC against Ripple going?
As for the SEC lawsuit, in fact, the Californian company recently got one new victory. Which practically prevented the government body from having free access to any legal documents of the company, as had been requested by the regulator. The request was made with the specific intent of demonstrating that Ripple Labs was aware since 2013 that it was in flagrant violation of existing legislation. And she was rejected by a New York judge, Sarah Netburn, a member of the southern district court of the city.
The importance of this latest decision is to be seen in the fact that the company supports the thesis that the SEC has changed its attitude over time, looking for open confrontation. But without ever having warned Ripple Labs seeking their collaboration to settle the issue peacefully.
What could happen in the near future?
Of course, it is too early to try to understand how the lawsuit will turn out. If at first many had gone unbalanced by focusing on the SEC, the picture has changed considerably in recent months. For Ripple, however, it shouldn't be too much of a problem to survive a possible defeat in the courtroom. The company's strategy, in fact, seems to be increasingly directed towards the outside world.
A completely logical choice, in light of the fact that only 5% of its customers are located within the United States. As stated by Garlinghouse in the final part of 2020. The same period in which, from inside Ripple Labs, the rumors that would like the transfer of the registered office. Which could be implanted in Europe or Asia. This was stated in particular by Chris Larsen, the co-founder of the company, also called upon by the SEC. Motivating the choice with a regulatory framework, that of the United States, such as to prevent a correct development of Ripple Labs.