The past twenty-four hours have been quite of benefit to XRP because the price of XRP went up by 15%. Although the cryptocurrency has seen a significant increase, it is still far from reaching its high this year. The coin has definitely seen its highs and lows, but experts believe that there are still prospects for the cryptocurrency to improve before 2021 comes to an end.
Ripple is one of the biggest and well-known cryptocurrencies in the crypto space. The price of the cryptocurrency went up by 15 percent after blockchain consultant, Founder and CEO of Avanti Financial Group; Caitlin Long announced that Ripple had registered a company in Wyoming. Her tweet went thus, ‘welcome to Wyoming, Ripple! More crypto cos are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws. People often ask how many cos have relocated/redomiciled to Wyoming-we dunno. We don’t keep lists and we like it that way’. Alongside her tweet, the CEO and blockchain consultant included a screenshot of Ripple’s registration page. The image below (the company’s registration page) shows that Ripple’s new identity is Ripple Markets WY LLC and is already active in Wyoming.
Ripple moved to Wyoming all in an attempt to find a safe haven where it would be accepted as a crypto currency after its dispute with the Securities and Exchange Commission. Wyoming was the best option because it is one of the states in the United States that has made efforts to create a friendly regulatory framework and enabling environment for crypto currency. Much of Wyoming’s crypto achievements can be attributed to Caitlin Long’s efforts and never-ending support for crypto currency through her company and voice via social media.
It is pertinent to know that Ripple had to move to Wyoming after its conflict with the Securities and Exchange Commission. The Securities and Exchange Commission’s committee alleged that Ripple had conducted an illegal security issue and essentially claimed that XRP was a security threat. This led to significant losses for the crypto company, up to 70 percent in fact. Although the company is getting back on its feet, the road to recovery is still quite long.