As Ripple (XRP) awaits the start of its trial with the SEC, the XRP community is trying to respond as it can. So she launched an online petition to force Maison Banche to look into the current problems of society. This was notably deposited on the We the People site which is managed by the White House and has already collected more than 10,000 signatures. The move was prompted by the current boycott of XRP, which has steadily plummeted since the SEC’s announcement.
A petition to get the federal government to recognize XRP as a currency
Launched by the administration Obama almost 10 years ago, We the People is a showcase for the US government to produce an official response on an important subject.
To get there, the petitions filed there must be successful. the feat of obtaining 100,000 signatures in one month.
Entitled We the people call on the federal government to view XRP, virtual currency, as currency, the community petition XRP already has more than 10,000 signatures.
Started by a certain J.W., the petition asks the DRY of end his frivolous trial, to refer at a previous FinCEN ruling that XRP is a currency.
The content of the petition also granted an important part the sharp decline in the market capitalization of the asset.
This fell by 93%, from $ 137 billion to less than $ 10 billion.
A situation that Joshua Frank of The TIE described as third biggest collapse of all time.
In fact, the XRP is experiencing the greatest collapse behind those of Lehman Brothers and Washington Mutual then this is not a bankruptcy.
The value of this fall, which far exceeds those from Enron and Worldcom inevitably affects hundreds of thousands of individual investors among US citizens.
Ripple is actively preparing to take on the SEC in court
Along with this petition, Ripple is organizing internally to fiercely defend its interests and end the bleeding in the market.
In the wake of the complaint filed by the DRY December 22, 2020, the company has had to deal with massive withdrawals of XRP assets from the market.
In the face of this, she had resorted to an official statement to ask investors and the press to wait for his version of the facts.
Ripple is now preparing to hold a pre-trial conference very soon in February 2021.
While it is unclear whether this petition is used to shake things up, it does show Ripple that he can still count on the support of his community. A small victory as many exchanges and partners dissociate themselves from the company as the trial approaches.