- Ripple seeks to use XRP without regulatory restrictions, boosting its adoption in financial solutions and money transfers.
- Recent market-driven uptrend in XRP, up 10.90% in the last 24 hours.
For Ripple and its cryptocurrency, XRP, remarks made by Bill Morgan, a distinguished attorney and supporter of Ripple, convey a hopeful perspective. Morgan forecasts that XRP has the potential to achieve unprecedented peaks within this year, an assertion of significant interest amidst the ongoing legal disputes between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) concerning the regulatory classification of XRP.
This table from the @Coinbase filing today is useful to show the SEC’s own contradictory positions in litigation (position in Ripple case highlighted yellow, Hinman speech position in blue) and SEC statements even as it tells the world there is lots of clarity and convinces… https://t.co/Inls5ytEH6 pic.twitter.com/OxmDV8IkAQ
— bill morgan (@Belisarius2020) March 11, 2024
Potential advantages for Ripple and XRP include
- Legal clarity: Achieving a clear definition on XRP’s regulatory status would be a decisive factor, providing a solid foundation for its future operation and adoption.
- Settlement of the lawsuit: A favorable outcome in the SEC litigation could elevate investor and user confidence in XRP, boosting its price and adoption.
- Listing on U.S. exchanges: Re-listing XRP on prominent U.S. exchange platforms would significantly improve its accessibility and liquidity, making it easier for investors to buy and sell.
- Use of XRP by Ripple without regulatory restrictions: Ripple’s ability to use XRP in its solutions without regulatory limitations would open new avenues for its application in financial services and money transfers, boosting its value and utility.
I was expecting it in April or May although a move to around $2.00 not ATHs this early, but I sure hope you are correct. https://t.co/DjMNYFLPgw
— bill morgan (@Belisarius2020) March 13, 2024
Morgan also mentions the concept of “gradual appreciation” introduced by David Schwartz, Ripple’s CTO, comparing XRP’s price behavior with that of Bitcoin over the past 12 years, hinting at a trend towards long-term appreciation.
Following an extended period of stabilization, XRP has demonstrated a positive trajectory recently, as our analysis at ETHNews highlights. This uptick is supported by a broader revival across the market. Over the past month, XRP’s value has risen by roughly 20%, yet it does not quite match the gains seen by rivals like Cardano, Bitcoin, and Ethereum.
