The months of July and August of this year might go down in the brief history of crypto, as being one of the most unsure times due to ETF announcements as well as other regulatory stalemates across the globe. As a result of all the FUD, the entire crypto market is a shell of its former self during the peak season of December and January when the total market cap was $827 Billion compared to today’s $210 Billion. Back then, XRP was reaching for the stars and had rallied to $3.82 awaiting for Coinbase to add it on the trading platform.

But this would not happen mostly due to what many believe is SEC scrutiny as to whether XRP is a security or not. The latter authority has chosen to keep mum about XRP although the XRP community has an interesting theory that the SEC never put into writing that Bitcoin (BTC) and Ethereum (ETH) are not securities. The officials at the authority simply verbalized their opinion. Therefore, they still have no rules to regulate cryptocurrencies and in that sense, completely clear XRP from any wrongdoing.

One XRP member sent an email to the SEC and got the following statement as part of the response, further proving the above theory:

It appears you may be referencing recent public statements made by certain SEC employees about cryptocurrency matters…

As you may be aware, Director Hineman’s remarks [about Ethereum] included a disclaimer: The Securities and Exchange Commission disclaims responsibility for any private publication or statement of any SEC employee or Commissioner.

Looking at the recent partnership of Ripple and the three exchanges of Bittrex, Bitso and Coins.ph to facilitate xRapid operations in the US, Mexico and Philippines, one gets to understand the utility of XRP. This means that once xRapid is at 100% functionality, traditional remittance transactions that used to last 2 – 3 days, will now be settled in 2 minutes thanks to the digital asset that will be used to source instant liquidity. Bittrex has even gone ahead and listed XRP/USD pairs.

There is also the recent remarks by Weiss Ratings that XRP is the fastest digital asset to transfer funds between exchanges. This realization resulted in the XRP community petitioning Binance, via twitter, to list XRP as a base currency on the exchange.

Crossing the Pacific ocean to Japan, we find the SBI Holdings Company has been a partner of Ripple for over 2 years. The same firm has recently launched the VCTRADE exchange that is XRP-centric.

SBI has gone a step further and invested in North American companies in Canada and the US.

In the US, the firm has invested in the Clear Markets firm that is based in North Carolina, and plans on building a derivatives exchange that allows institutional investment products to be tied to the price of Bitcoin and most likely our favorite digital asset of XRP. In Canada, SBI has invested in Lancium Technologies which provides wind power to crypto currency mining activities.

In conclusion, the events, developments and technological advancements that make XRP great are more than we can discuss in one article like this one. But with the few provided above, we can understand that the digital asset is seriously undervalued at current levels of $0.32. Perhaps when the hangover of the ETFs settles as well as regulatory uncertainty across the globe, XRP will rise to its full potential in the crypto markets.

The post How XRP is Seriously Undervalued Right Now and Some SEC Loopholes appeared first on Ethereum World News.

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