Ripple Files Trademark for Ripple Impact and Ripplelex Following PayID Trademark Scandal

Ripple and its Current Trademarks. It’s important to note that the trademark for all Ripple’s products is filed in small letters. So, the files contain names like ripplenet, and ripple impact.

In our Ripple News yesterday, we noted that Ripple’s application to trademark PayID is currently under dispute. PayID is one of Ripple’s latest global financial services products and Ripple filed a trademark application for the brand.

However, an Australian company with a product with the same name is suing Ripple for the rights to use the name PayID.

Ripple XRP Price Prediction 2020

The application to trademark PayID was sent in by Ripple in June and it was filed in the United States. NPP Australia has filed a suit against Ripple through the Federal Court of Australia. NPP claims that they applied to trademark their product with the name Pay ID for their global payment infrastructure that allows people to send money across different banks through a single profile. It is similar to Ripple’s PayID.

The Australian company claims that having two products with the same name will cause confusion and create opportunities for scammers to manipulate unsuspected users. The next court hearing is scheduled to take place today, August 26th, 2020.

XRP Continues to Fall but There is Hope for a Correction

At the time of writing, the price of XRP was $0.275847. It is down by 2.25% against the USD and down by 0.66% against Bitcoin BTC. The trading volume over a 24 hour period was $1,353,063,842 and the market capitalization was $12,397,288,820. The token declined from the $0.2900 level yesterday as the price of BTC declined yesterday dragging most tokens along.

Even as the price of XRP falls, some believe that it has the potential to surge significantly in the next few years. One analyst said that Ripple XRP will triple in value before the end of 2021.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

  • Ripple Files Fresh Trademark for Two New Products
  • Australian Financial Services Firm Files Lawsuit Against Ripple Over PayID Trademark 
  • XRP Continues to Fall but There is Hope for a Correction

Ripple just sent in a trademark application for two of their new products, Ripple Impact and Ripplex. If granted, they will have the exclusive rights over the brand names and any other company that uses these names will be liable for violating or infringing their trademark. Each brand attracted its application and both applications are awaiting examination by the United States Patents and Trademark Office (USPTO).

Earlier this month, the company sent a trademark application for RippleNet. While Ripple has been using RippleNet as its global payments network for over a year, it doesn’t have the exclusive right to use the name. The two most bring the total number of trademarks Ripple has filed this year alone to nine.

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