can Ripple's partnerships help it recover?

Although Ripple's array of partners keeps expanding, the XRP coin continues lurching.

Ripple is a U.S. based technology company and payment service provider that owns approximately 75 percent of the 100 billion XRP tokens in existence, according to Coin Metrics.

In its latest quarterly report, Ripple revealed a substantial increase in XRP sales.

Co-founder Jed McCaleb, who is no longer at Ripple, alone sells half a million XRP on a daily basis, according to Coin Metrics.

The new complaint claims that Ripple broke a number of laws in the state of California by reportedly "Blurring differences between Ripple's enterprise solutions and XRP to further drive demand," and "Paying exchanges to list XRP, limiting the supply of XRP to drive demand."

As the plaintiffs demand XRP to be recognized as a security and compensation for incurred costs, Ripple sent an open letter to Congress where they asked not to be "Painted with a broad brush."

Even though the regulatory uncertainty persists since the SEC has yet to address the concerns surrounding XRP, the Ripple company continues expanding.

Despite the solid progress that Ripple has been making to broaden the adoption of its technology across the world, the price of XRP continues limping.

"Ripple Labs willfully violated several requirements of the Bank Secrecy Act by acting as a money services business and selling its virtual currency, known as XRP, without registering with FinCEN, and by failing to implement and maintain an adequate anti-money laundering program designed to protect its products from use by money launderers or terrorist financiers," according to FinCEN. Technically, the future of the XRP price does not look bright.

Only time will tell if the price of XRP can recover and Ripple's partnerships, future adoption, and its pending lawsuits will certainly play a major role in whichever direction it goes.