The expert spoke about the consequences of a lawsuit against Ripple Labs

The price of XRP will decrease. 12.Jun.18 10:39 AM By Jeff Bannister Photo Toinnov.com    461

The expert told about the consequences of the collective lawsuit for XRP. Investor Vlad Zakinov initiated the lawsuit at Ripple Labs in January 2018. The investor accused Ripple Labs of positioning their tokens as a cryptocurrency, although it is in fact security. In his statement, the investor referred to the fact that Ripple Labs uses the means of investors for its development and therefore it must be recognized as security since users can not control this process, so their risks increase. Vladi Zakinov bought the cryptocurrency in January 2018 and believed that in this way, he is injured. 25 anonymous respondents supported the suit. Besides, Vlad Zakinov noted that all respondents must register their cryptocurrency when selling Ripple, but they did not. Moreover, it is pointed out that the defendants manipulated the information that caused the increase in the cost of XRP, due to which the company was able to increase profits, and investors lost money on it. The very same CEO Ripple Labs Brad Garlinghaus notes that the token is not a security. According to experts, against the background of the trial, the cost of XRP will continue to decline.

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