While several people tie the success of XRP to a positive outcome in the ongoing court battle between Ripple and the United States SEC, a recent article published on Friday by the top media company Fortune says otherwise.
The “Ripple and XRP may finally be for real” newsletter written by Fortune Chief Editor Jeff John Roberts is a follow-up to an article published by him in 2017. The 2017-dated article titled “Is Ripple for Real” was a result of his skepticism about the actual or unique solution that Ripple and XRP offer.
Per the Friday opinion piece, Roberts met with Ripple President Monica Long last week. He now believes the Silicon Valley tech company and XRP both have a standout selling point — On-Demand Liquidity (ODL) services — that would guarantee their long-term successes irrespective of the SEC case outcome.
According to him, Ripple’s On-Demand Liquidity (ODL) product where XRP is utilized for speedy and cheap cross-border settlements is a long-term value proposition for both the crypto solutions company and the XRP Ledger native token.
More so, he highlighted that the XRP Ledger native currency has a unique design and tokenomics compared to other cryptocurrencies than are either based on proof-of-stake or proof-of-work.
The Fortune Chief Editor wrote, “A big reason for this is that XRP, the token often associated with Ripple, is different from other cryptocurrencies. Unlike other blockchain projects, there has never been any mining or proof-of-stake mechanism. Instead, the XRP founders simply conjured 100 billion of the tokens out of thin air in 2012, and ever since people have been trying to figure out what the stuff is for.”
On these grounds, Roberts noted that XRP would soar over time with Ripple recording greater expansion despite the direction of the Ripple-SEC lawsuit.
“All of this is to say that Ripple, more than ever before, has figured out a long-term value proposition for both the company and XRP—and that it may be poised to succeed regardless of how its big court case turns out,” he concluded.
It bears mentioning that the United States Securities and Exchange Commission sued Ripple in 2020 over XRP. The securities watchdog charged the San Francisco-based cross-border payment firm for violating securities laws during their XRP initial sales. The SEC also claims that XRP is an unregistered security.
However, Ripple has brought forward many facts and defense concepts including the Fair Notice Defense to prove that XRP is similar to other crypto assets the SEC submits are not securities. The probable conclusion of the two-year-long legal battle is expected later this year as Ripple CEO and other pro-XRP lawyers remain optimistic about the outcome.
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