Recent discussions about an old patent document for XRP have sparked interest and confusion on Twitter, with some users convinced that the U.S. government owns the patent for this cryptocurrency.
Details of the Document
The document in question was filed with the United States Patent and Trademark Office (USPTO) in December 2013. It covers the trademark for XRP in financial services such as 'providing secure payment options to members of an online community via a global computer network through the use of traditional currency and virtual currency.'
Patent vs. Trademark
While the document is legitimate, it was not filed by the government, but by OpenCoin, Inc., now known as Ripple. This trademark registration is not an endorsement from the government. Essentially, Ripple protects its name from being used by others. This year, Ripple also filed to trademark 'Ripple Custody', indicating potential plans for a crypto wallet or custodial services.
XRP Market and Ripple's Future
Currently, XRP ranks as the third-largest cryptocurrency. Its price stands at $3.08 with a market cap of $183 billion. Investors have shown increasing interest in XRP amid the ongoing legal battles between Ripple and the SEC, which could positively influence the price trajectory.
The question of the XRP patent has become mired in discussions and myths. However, its official owner is Ripple. The future of XRP remains uncertain, but current events may lay a positive foundation for its growth.