Crypto traders have for a very long time referred to the digital asset known as XRP via the name of the Ripple company that uses the asset. Initially it was okay to interchange the two names when referring to the coin and the company, but with 3 pending lawsuits against Ripple and a SEC decision looming, it is understandable that the team at Ripple see it fit to clearly distinguish between the two entities.
The Ripple company, via its website and twitter page, has clearly outlined the differences of the two using the infographic below.
The website goes on further to state that:
Ripple, the technology company, and XRP, the independent digital asset, are distinctly different.
Ethereum World News had late last week hinted at the ongoing efforts by the Ripple company to distinguish itself from the digital asset of XRP. One of the factors that had led to this conclusion, was the new XRP symbol evident on coinmarketcap.com. This new symbol is the simple X that was part of an XRP-community effort back in May, to have a unique cryptocurrency symbol for XRP.
One other thing that might be of concern is that the SEC did not include XRP in the list of digital assets it excluded from being securities. Perhaps this is due to the fact that the Ripple company owns approximately 60 Billion XRP with 55 Billion of that amount locked up in escrow.
A declaration of XRP being a security would mean the team at Ripple will constantly be in court to answer to the 3 lawsuits against the company as well as other infractions against securities laws in the US. The other side of the coin is that XRP is also excluded from being a security and life goes back to normal with XRP HODLers celebrating this fact.
Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.
The post XRP (XRP) Rebranding Efforts Continue to Emphasize it is a Separate Entity from Ripple appeared first on Ethereum World News.