Banks in US Will Start Wanting to Use XRP?

According to General Counsel, Stu Alderoty telling CNBC, Ripple after the current judge ruling is confident that banks in United States will start wanting to use XRP in cross border payments.

The crypto industry celebrated Ripple's partial win in court on Thursday, as a judge has ruled XRP is not a security.

Ripple is confident that banks and other financial institutions in United States will start showing interest in adopting XRP for cross border payments.

Quora

Not to forget that Ripple has been fighting the case against Securities and Exchange Commission for the past three years over allegations from the agency. Ripple's business suffered as a result losing partnership with the money transfer giant MoneyGram in March 2021.

Ripple have more than 900 employees globally with roughly half of them are based in the United States. Ripple uses it's currency XRP for cross border payments. And XRP is currently the fifth largest cryptocurrency in circulation with the market cap of $39,792,261,407.

Ripple claims XRP can enable movements of money in a fraction of a second. And that is something appealing to me as I believe a digital currency with no real world use case may not survive for long or thrive.

The ruling does look to have helped surge the prices of XRP and few other cryptos in the market but reportedly some experts argue that the non-security status of XRP may give the founder of Ripple and the firm a free pass to dump their token holdings adding to selling pressure across exchanges. They argue that this move may make them unaccountable for large volume of token sales. I have shared it in my previous post.

What are your thoughts?

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