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YouTube Overlooked Notices on XRP Scams – XRP to Boost Its Price

Jamie West by Jamie West
September 11, 2020
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CALIFORNIA, San Francisco – Ripple disputed YouTube’s claims, where the social media didn’t know anything regarding the “giveaway” scams of XRP. Ripple accused YouTube of “willful blindness” after multiple alerts regarding the fraud. As per CryptoWhale, the XRP demand will boost once the United States or the US regulation had clarification.

In April, Ripple had action over YouTube as it makes the platform accountable for several videos involved in scams. These videos used the Ripple’s logo and impersonated the CEO to endorse rip-offs that request victims. The fraud advises people to transfer their XRP funds for the eligibility of getting a more considerable amount than what they shared, yet they never received it.

YouTube filed a gesture to discharge the lawsuit back in July. It debated that it didn’t involve in scams. It also stated that it’s not accountable for any third-party content since it’s an online platform. However, Ripple responded to the motion of YouTube, and it disputed the claim.

Ripple debated that the 350 takedown prompts provided to YouTube sends a signal that they are aware of the scams. However, they decided not to do any action. This blockchain company blamed YouTube for “willful blindness” as it alleged that this online platform ignored clear notices regarding the frauds happening in the social media platform.

The worst part is that these uploaded scams are on YouTube every day, and some are receiving a lot of views in a few hours. Ripple stated that the users stole hundreds of thousands of dollars or millions of XRP. The company agonized reputational reparations due to the failure of YouTube to act.

The filing alleges YouTube earned from gaining ad income coming from scam videos. It’s “materially contributed” to the state by providing a confirmed “check” on one of the giveaway scams’ channels.

Ripple is not the only one that blamed YouTube for not doing any action when it comes to stopping or preventing fraud.

On another note, CryptoWhale anticipates that XRP will boost because of the United States or the US regulation.

CryptoWhale, a famous export, stated in Twitter why XRP would have a bullish impetus in the long run as its development. It’s because it’s the only project on the market that pursues cryptocurrency’s regulation. The XRP altcoin will take advantage when a complete legal outline for digital assets operate in the US.

The analyst stated that this cryptocurrency faces criticisms for its centralized process. On the other hand, the analyst thinks that Ripple’s transparency is the reason. Ripple needs to collaborate with activities from the government.

CryptoWhale unveiled that the action will boost the holdings of XRP, and it’s at the present price alteration in the cryptocurrency market.

The expert stated that this blockchain company’s significance is biddable with ISO20022, which is for standardized settlements. As per the report of CNF, Ripple was the first DLT-oriented company to be a part of the standards committee of the ISO 20022 for cross-border payment back in May.

On the other hand, the ability to transfer a payment quickly around borders is not the resolution to the company’s entire dilemma. According to Ripple, the funds have to be in the position for the right accounts, at the right time, and in the right country to let payments flow.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: blockchaincrypto assetcryptocurrencydigital assetdigital currencydigital walletfraudfundsinvestmentinvestorlawsuitRipplescamstolen XRPtechnologyvirtual walletYouTube
Jamie West

Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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