To being this piece, the XRP community needs to be commended once again for bringing the above fact to light. Twitter user @Ianbins brought it to the attention of Ethereum World News when he stated the following in reply to another tweet. The initial tweet was with regards to the 3 pending lawsuits against the Ripple company. @Ianbins would comment the following:
Nice to know but Apple is in like 60 lawsuits…. it just turned a $1T it’s normal in big business.
The full twitter thread can be seen below:
Nice to know but Apple is in like 60 lawsuits…. it just turned a $1T it’s normal in big business pic.twitter.com/Y5O20AUOJC
— Ian Northing (@Ianbins) August 11, 2018
@Ianbins was responding to a tweet that stated that one of the pending lawsuits against Ripple will be heard in federal court rather than in the Courts of the State of California where it was initially filed. This then means there is a possibility of the federal court ‘joining’ all three lawsuits into one to expedite the process.
60 Pending lawsuits against the Apple Co. that is worth $1 Trillion
This then brings us to the other fact that the Apple company is facing almost 60 class-action lawsuits for secretly throttling and/or slowing down old phones belonging to existing users. 60 pending lawsuits means that Apple is facing 20 times more court cases than Ripple yet it just broke the $1 Trillion market capitalization only a few days ago. The current market cap of AAPL stands at $1.01 Trillion at the moment of writing this.
Analyzing our favorite remittance coin of XRP, its market capitalization stands at $11.673 Billion at the moment of writing this. AAPL’s market cap has eclipsed that of XRP by 86 times yet it has more ‘trouble’ in the courts than the Ripple company.
Also to note is that XRP and Ripple are two completely different entities. Therefore, any lawsuits affecting Ripple, should logically not affect the value of XRP. In the case of Apple, its stock of AAPL is part and parcel of the parent company.
Therefore, it can be concluded that XRP has faced too much FUD due to the 3 pending lawsuits against the Ripple company which is a completely different entity. One explanation could be that the crypto-markets only became popular around June last year when the media started covering Bitcoin (BTC). In the case of Apple, it did its IPO back in December 12th, 1980 and at $22 per AAPL. Since then, the Apple company has more or less dominated the industry of computing and smartphones.
Disclaimer: This article is not meant to give financial advice. Any opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.