One of the most talked about cryptocurrencies of recent days has been XRP. Although this has been the result of a negative development, it is a fact that XRP has not fallen from the headlines for days.
The case initiated by the SEC, which is known to everyone who follows crypto news, has negatively impacted the XRP market and reduced the XRP market cap from $ 40 billion to $ 10.3 billion in a few days. This also caused XRP to lose its top three place, allowing Tether to replace the USDT stablecoin, pushing XRP to fourth place. Numerous crypto exchanges, including trading giants like Coinbase, Bittrex, and Binance US, have begun removing XRP trading to maintain compatibility.
Undoubtedly, XRP investors suffered the most during all these developments. But the XRP community did not remain indifferent to the developments and decided to take action with a petition.
On December 29, 2020, a new petition was published on petitions.whitehouse.gov. The petition, addressing the US Federal Government, wants XRP to be adopted as a currency. The campaign mentions the US Securities and Exchange Commission’s recent legal action against Ripple, claiming that the local cryptocurrency XRP is an unregistered security by being sold to institutional and retail investors for seven years. According to the document, while FinCEN has already determined that XRP is a currency, all this causes ordinary American investors to incur financial losses, and the SEC is responsible for them. In the document, the case in question is considered as “meaningless”.
“The SEC complaint harms XRP currency holders and must end immediately. The US Government has explicitly guided that XRP is a currency, as determined by FinCEN. ”
So far, 9,669 signatures have been collected in the campaign. By January 28, a total of 100,000 people must sign in order to receive a response from the White House.