Ripple, a blockchain corporation, is the only cryptocurrency-related startup among the top ten most valuable companies in the United States, as a result of its continued development.
According to statistics obtained by Finbold, as of November 2022, Ripple ranked tenth among major U.S. firms with a $15 billion value.
Notable competitors include SpaceX ($127 billion), Stripe ($95 billion), Instacart ($39 billion), Databricks ($38 billion), Epic Games ($31.5 billion), Fanatics ($27 billion), Chime ($25 billion), Miro ($17.5 billion), and Discord ($15 billion).
Notably, Ripple’s most recent value occurred when the firm decided to buy back shares from investors that supported its 2019 $200 million Series C investment.
Given that Ripple is being sued by the Securities and Exchange Commission (SEC) over the issue surrounding the issuance of its native coin, XRP, the value is a positive indicator of the company’s future development. As the lawsuit unfolds, investors’ faith in Ripple looks unshaken, with the business achieving tiny victories prior to the case’s conclusion.
The lawsuit, which is expected to have far-reaching repercussions on the whole cryptocurrency industry, centres on whether Ripple and its senior executives offered XRP as unauthorised security to the public.
In this instance, Ripple has taken steps to increase investor trust by constructing a sturdy defence. As part of its defence, Ripple accuses the SEC of having a conflict of interest by classifying Ethereum (ETH) not to be a security while XRP is.
Also Read: This Crypto Bear Market Is Nearing Its Conclusion, According To A Strategist At Bloomberg
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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