The price of XRP has risen about 15% in the past 24 hours after news that Ripple has opened a headquarters in Wyoming.
Ripple, the company behind one of the world’s largest cryptocurrencies, XRP, registered an entity in the state of Wyoming. This occurs after a conflict between the company and the United States Securities and Exchange Commission (SEC). However, the price of XRP has risen about 15% today, after Caitlin Long broke the news on Twitter.
Ripple goes to Wyoming
Wyoming is one of the states in the United States that is known for its hard work to create a friendly framework for the regulation of cryptocurrencies. Much of this is due to the efforts of Caitlin Long – a well-known crypto enthusiast, as well as Avanti’s founder and CEO.
With that said, Long broke the news yesterday, welcoming Ripple to Wyoming.
“Welcome to Wyoming, Ripple! More and more cryptographic people are realizing that Wyoming is a better home than Delaware due to our encryption protection laws. People often have how many cos moved / redomicilated to Wyoming – we don’t know. We don’t keep lists and we like it that way. ” – Is it over there tweeted.
Long also attached a screenshot of the registration page where it can be seen that the new entity goes by the name of Ripple Markets WY LLC, and is already active. The initial deposit is dated February 11, 2020.
It is important to note that all of this occurs amid the legal conflict between Ripple and the SEC. The Commission claimed that Ripple conducted an illegal offer of securities, essentially claiming that XRP is a security. This hurt the cryptocurrency, which fell more than 70% with news in December and is still struggling to recover despite the booming market.
XRP values 15%
However, the past 24 hours have been quite favorable for XRP, and the reason may be that there are many conversations about relocating to Wyoming.
The price went up about 15% on the last day, as XRP is currently trading around $ 0.60.