Ripple has been included in CNBC’s Disruptor 50 as the #38 of most successful private companies this year —primarily due to its innovative approach towards borderless payment technology and becoming one of the largest crypto companies in the world.
This year’s CNBC’s Disruptor 50 is the ninth annual list of private companies thriving amidst the pandemic and making innovative approaches in their business models and the fields they’re in. Some of the listed companies include unicorns (privately held companies) that have surpassed the 1 billion dollar valuation mark, in which Ripple sits at $10 billion.
Making Waves In Crypto Regulation
Ripple is number 38 on the list, cataloged as “making waves in crypto regulation.” The crypto company has been expanding even during its fierce legal fight against the SEC —since the regulatory body filed a lawsuit against its executives for allegedly conducting a $1.3 billion sale in unregistered securities.
Ripple still plans to go public after the lawsuit, however, joining the likes of Coinbase —which debuted on April 14— and Kraken, which is planning to go public in 2022.
Despite the many challenges for the company and a rough week for the global crypto market, Ripple’s XRP managed to bounce back to $0.86, trading back above the 2020 highs after losing nearly 50% in price.
The XRP token, now sitting at number 7 by market cap, has seen some light following Ripple’s milestones. The payment processor recently partnered with Egypt’s National Bank (NBE), which doubled down on their initial deal of February 2020.
Another surge for the XRP token came when Ripple registered another win against the SEC. As reported by CryptoPotato, the SEC tried to access Ripple’s executive’s financial records of at least six banks, which the company firmly objected to, and filed a motion stating they had already agreed with all necessary documents which judge Sarah Netburn granted.
Of course, as it was with every other cryptocurrency, XRP also suffered throughout the past couple of weeks during the market-wide downturn.
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