XRP Partners With Wanchain, Gains 40% On Saturday

Wanchain’s partnership with Ripple was confirmed on April 10, 2021, via a Twitter video by Wanchain’s CEO, Jack Lu. The partnership will be effective in a few days. Ripple’s XRP token would be integrated into the Wanchain network’s ecosystem soon. The XRP token will be integrated into the decentralized, interoperable blockchains of the Wanchain network that would enable Ripple users to engage in yield farming and liquidity mining with the XRP token. This collaboration is expected to boost XRP’s use cases. WanSwap, an autonomous protocol for interest rates, is one of the available decentralized applications. The Dapp will allow taking loans called WandLend. 

Users will also be able to leverage other Wanchain-integrated blockchains such as EOS, Ethereum, Bitcoin, and others. The cross-integration between these blockchains will be possible with the help of the Wanchain Storeman Group (WSG).

On Saturday, XRP’s price hit an all-time high of $1.40 in three years, click here to know more about XRP price prediction. This was a straight jump from the $1 mark that XRP had reached a few days ago. Over the last weeks, XRP continued to rise past $1, then $1.05, and finally, on Saturday, it gained 40%, rising to $1.47 price. This is very much in line with the price predictions of analysts and industry experts. At the time of writing this post, Ripple XRP’s price stood at $1.56.

The SEC (Securities & Exchange Commission), in its lawsuit, charged Ripple of conducting undeclared transactions and unregistered securities offerings in December 2020, which amounted to $1.3 billion. The SEC demanded that Ripple disclose four email documents in court. However, Ripple won a bid against the SEC to retain two emails from being scrutinized during this ongoing legal battle. Followed by this, on Friday, yet again the court ruled in favor of Ripple. This is a major legal victory for Ripple. The SEC also demanded that Ripple reveal personal financial information of Ripple’s Co-Founder & Executive Chairman, Chris Larsen, and Ripple’s CEO, Brad Garlinghouse, for up to eight years. But the judge ruled out the SEC’s demand.

US Magistrate Judge Sarah Netburn said in her ruling that the personal financial records of Larsen and Garlinghouse are irrelevant in the current proceedings as Ripple will already be producing XRP transaction records to the court. The court also rejected the subpoenas served by the SEC on SVB Financial Group, First Republic Bank, the Federal Reserve Bank of New York, Silver Lake Bank, Silvergate Bank, and Citibank that had sought to obtain Larsen and Garlinghouse personal financial records. The judge said in her 10-page ruling that the court is not convinced that the personal financial records of Larsen and Garlinghouse would prove individual violations of Section 5.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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