After the SEC announcement, Ripple and XRP started to grapple with bad news. A new statement has come from the Ripple front. According to the company’s announcement, a new response will be presented within a few weeks. Ripple made the following statements: “The public and the press only heard the story from the SEC, and we will present our response in a few weeks to address these unsubstantiated allegations against Ripple.”
Meanwhile, according to the statement, Ripple will continue to support all its customers in the US and around the world. Ripple announced that most of its customers are not in the US and that the overall XRP volume is borrowed from outside the US. “For example, there are clear rules for using XRP in the UK, Japan, Switzerland, and Singapore. For eight years, we have developed products that have helped hundreds of customers solve global payments problems. We will defend our company and look forward to resolving this issue in court to get clarity for the US cryptocurrency industry finally”.