Ripple distances itself from its cryptocurrency

Ripple is rebranding XRP in order to distance itself from its own creation. An active marketing strategy is designed to highlight the difference between Ripple and XRP tokens.

Cryptocurrency (XRP) is strongly associated with the Ripple company. The company released the cryptocurrency on its platform, with the participation of in-house developers, owns a significant part of the tokens, most news resources present the cryptocurrency and the Ripple company as a single whole, and on the official Ripple page, although it is noted that theoretically the network can work independently of the company, to work with the XRP node you need permission from one of the Ripple.com servers.

However, lately Ripple has been trying in every way to abstract from the XRP currency and convince everyone that it is not responsible for XRP tokens.  The set of measures to change the brand began with the decision to assign a new symbol to the token and thus finally dissociate ourselves from it. The new logo is radically different from the company's own and looks simple and minimalistic, according to representatives of the startup.

During the ongoing marketing campaign, a new Twitter account has already been registered to discuss and support the new XRP logo, and variants of the logo, the final version of which has not yet been determined, are presented on Github. The company believes that XRP needs its own symbol, like the dollar, to indicate its uniqueness.

According to experts, the company decided to rebrand XRP after being accused of violating state and federal securities laws by participating in schemes to raise hundreds of millions of dollars through the sale of unregistered Ripple share tokens (XRP). Such a lawsuit was filed early last month in the California Supreme Court. In this way, the company is trying to distance itself from the securities market and do everything so that XRP is not considered as such. 

But the fact that Ripple has a controlling stake makes the possibility of XRP being recognized as securities more than likely, so the company has focused all its efforts on disassociating itself from its currency of the same name. 

Some SEC representatives have already expressed their position defining the cryptocurrencies Ether and Rippleas unregistered securities.. The issue of excluding blockchain-based tokens from the scope of SEC monitoring has already been raised, but the agency’s official position has not yet been announced. If the SEC recognizes most of the tokens as securities, this will make their trading illegal and the largest US cryptocurrency market will suffer serious losses. Such a decision could potentially lead to the loss of tens of billions of dollars invested in cryptocurrencies such as Ethereum and Ripple and significantly affect their prices.

According to https://chaining.ru