The Ripple has a taken a step ahead, by launching a new initiative named Spring which is going to provide a good investments opportunity which will allow the entrepreneurs to use the XRP token and the XRP ledger. The official announcement was made on the Ripple blog.
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The former director of Facebook Ethan Beard will serve as the senior vice president of the company. He will lead the both Spring and Ripple’s developer program. He stated that the XRP has a speed, scalability, and has the capability to demonstrate the real-world problems to solve it. It is one of the great tools for the start-up as well as the entrepreneurs to take their business to the next level. The Spring partners will work as a different entity of Ripple because the Ripple is the main link who provides the capital to the Spring’s capital.
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The financial institutions took part in the Ripple’s rapid platform which was reported to improve the transaction speed as well as the savings of the 40-70%. The chief market strategist Corey Johnson stated in the month of April that the XRP is not a security. He has a speculation that it will not be added to the cryptocurrency exchange Coinbase due to the questions over the status.
At the beginning of May, Ripple was named in the class action lawsuit by the investor of the XRP who has alleged the XRP sales, It carried the allegation of the unregistered security sales.