Will XRP Be The Next Big Thing?
There is no Cryptocurrency more well known than XRP which has seen significant amount of litigation and U.S Securities and Exchange Commission (SEC) action. The project has had the biggest swings from all time high's in 2017 to all time lows of cents.
But XRP has continued to fight back and regain lost ground as it continues to push through the barriers that are thrown at the project and now, many are calling it the actual next true Crypto to rise like Bitcoin. Today we take a look at some of the emerging news and what the broader crypto community is saying about XRP.
Short Term Boom
Since November last year not even two months ago, XRP has boomed to over 300% in value and is the third largest Crypto based on market cap sitting at a valuation of US 145 Billion at time of writing which is quite an impressive feat and return. Given the strong community support this might put Ripple Lab's back on target to be the worlds leadings cross-boarder payment system.
XRP market niche is a little different as it focuses on being a utility token designed for international money transfers. Ripple Labs has continued to drive XRP as a solution for a persistent global problem of slow and costly cross border payments.
It seems that many also feel the same or are at least betting on it's ability to deliver the outcome and become the business that replaces the current SWIFT banking system.
We are seeing continued growth in this sector with many banks moving to new technologies to achieve faster and safer international transactions across the globe that also save on costs, with blockchain technology appearing to be the go to solution.
Ripple Vs The SEC
XRP’s return and growing support can be seen to come from the recent Ripple legal battle with the U.S. Securities and Exchange Commission (SEC). The lawsuit, filed in December 2020 alleged that Ripple’s sale of XRP constituted an unregistered securities offering. Ripple countered by arguing that XRP is a utility token and not a security.
After four years and a lot of money in 2024 Ripple had a number of significant legal victories. Judge Analisa Torres ruled that individual XRP tokens are not securities under federal law a decision that calmed the XRP investor issue and saw many people return. The SEC is appealling the decision and it remains an ongoing legal battle. However, President Trumps transition back into the white house is promising for a more crypto friendly U.S under his leadership.
XRP Partnerships Continue to Grow
Ripple's investments and partnerships continue to grow with over 300 financial institutions including American Express, Santander and SBI Holdings. XRP continued to work towards mainstream adoption even during it's costly legal battles. Not to mention the launch of Ripple’s Liquid USD (RLUSD) a stablecoin backed by real world assets that enhances XRP’s utility by providing fiat liquidity.
Ripple’s On Demand Liquidity (ODL) service is another game changer. By using XRP as a bridge asset, ODL facilitates real time cross-border payments at significantly lower costs than traditional systems. Bhutan’s central bank among others have already integrated ODL systems to benefit citizens working abroad providing a working model for XRP’s global potential.
So it look's like XRP is making a come back, what it's future price will be. No one knows but it has fought it's way back which is an impressive story to see unfold regardless.
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