Categories: Ripple

Ripple and R3 Reach Settlement Over an Ongoing Legal Dispute

Click here to view original web page at

After engaging in almost one-year of legal battle, the two companies decided to end it in an undisclosed agreement.

Blockchain firms Ripple and R3 have decided to put an end to an ongoing legal dispute over the XRP purchase option. In an official disclosure, Ripple Labs Inc. released a statement saying:

“R3 HoldCo LLC, R3 LLC, Ripple Labs Inc. and XRP II, LLC announce that they have reached a settlement of all outstanding litigation between the parties. The terms of the agreement will remain confidential and both sides look forward to putting these disputes behind them.”

The two companies were engaged for almost one-year of a legal battle. The dispute started over the terms of a partnership agreement between the two companies that caused them to break earlier ties. Last year in September 2017, R3 sued Ripple alleging that the latter violated a stipulation in the partnership agreement. As part of the agreement, R3 had the right to buy up to 5 billion XRP tokens at the rate of $0.0085 per token until the end of 2019.

The existing price of Ripple (XRP) tokens is $0.26, a 3000% increase from R3’s quoted price. As per the agreement, R3 can purchase all the 5 billion XRP tokens – now valued over $1.3 billion – at just $42.5million. When the Ripple price reached its all-time high of $3.84 in January, the value of R3’s XRP tokens was at $19 billion.

However, the enterprise blockchain startup R3 has said that Ripple has refused to stay by its word. Thus R3 filed a complaint in the courts of Delaware and New York, requesting to force Ripple into compliance. Ripple later filed a countersuit in California saying the R3 has failed to fulfill its obligations under the agreement and thus exhausted its right to carry out XRP options.

Ripple Faces Multiple Other Lawsuits

There are multiple other lawsuits filed on Ripple Labs, alleging that the company must declare XRP tokens as securities. Investors have alleged that the company has a high level of centralization by holding 55 billion XRP tokens in its escrow account. Some experts also allege the Ripple inflates the price of XRP artificially to fund its startup.

The blockchain startup has issued clarification alleging that its brand is different from XRP. Ripple Labs CEO Brad Garlinghouse insists that the digital coin is not a security. Garlinghouse sites a few reasons showing how XRP and Ripple are different:

  1. “If Ripple as a company shut down tomorrow, the XRP ledger would continue to operate.”
  2. “If you buy XRP, you’re not buying shares of Ripple.” Similarly, “Saudi Arabia owns a lot of oil, but they do not have control of oil.”
  3. “XRP is solving a problem. There’s no security in a utility.”

Blockchain firms Ripple and R3 have decided to put an end […]


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

US Coinbase Expansion: Institutional investors are aggressive in bitcoin {BTC} investment

Source: Pexels Coinbase became the custodian of the industry’s largest cryptocurrency assets (equivalent to about $ 7 billion) through the… Read More

3 hours ago

Marc Faber on how to lose the least money over next 10 years

Marc Faber , Editor, Gloom, Boom & Doom Report on how to cope with the selloff 2019. Excerpts from an… Read More

3 hours ago

Blockchain: a friend to digital continuity and lightweight workflow tool

Blockchain, despite the natural hype cycle, has potential as a friend to digital continuity in the supply chain and as… Read More

3 hours ago

Palestinian Terrorist Group Uses Bitcoin To Raise Money

Hamas, the militant Palestinian group, has come up with a new way to raise funds for its terror campaigns: bitcoin.… Read More

3 hours ago

Bitcoin, Petro, Libra … Why Cryptocurrency Isn’t Really Currency

Virtual worth - La Nacion/DPA/ZUMA Cryptocurrencies are not so much money as flexible "assets" that may be used in payments,… Read More

3 hours ago

Bitcoin ‘Millionaire’ Backs New Cryptocurrency Platform—Despite It Crashing A Staggering 98%

Bitcoin has created a fair few millionaires since it exploded in value over the last few years , with some… Read More

3 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More