Ripple again in media fire. Against the company filed another lawsuit. This is the third claim, which alleges that Ripple has distorted the image of XRP. Again, the claim can be attributed to the discussions about whether Ripple investment token or not.
The third lawsuit was filed by David Okonorm, who claimed that ” XRP has all the traditional hallmarks of an investment token, but the defendants are unable to register it as such. Buying XRP is an investment contract, because the buyers of XRP, including plaintiff, have changed their Fiat currency such as U.S. dollars, or other cryptobia currency in exchange for XRP. Buyers XRP reasonably expected to profit from their ownership of XRP, and the defendants themselves have often stressed the profit motive”.
CEO Ripple brad Garlinghouse has repeatedly stated that Ripple is not an investment token. For Garlinghouse this is the third lawsuit in the direction of his company. The fact that he coped with the accusations, gives hope to the optimistic investors. However, cautious investors kept on the sidelines, and this factor clearly affects the price of XRP.
The position of the Commission on securities and stock exchanges with regards to Ripple is ambiguous. This deters investors from further investment in this scriptactive. As soon as the Board will announce its verdict in court, Ripple can dismiss the dispute.
A negative verdict could trigger a decline in short-term investments, and long-term investors become more wise. This means that registered broker dealers will sell the asset. That is, dealers who need only a lot of money. In addition, careful investors will again begin to invest and XRP could reach the resistance level at $ 3.
The uncertainty of the Commission on the dilemma Ripple can become an obstacle to the growth of the company, but the company has overcome many challenges during its history and was an investment with excellent potential.
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