Barely a few months after the widely celebrated Judge Torres’s verdict that partly acquitted Ripple of the charges levied against it by the United States Securities and Exchange Commission (SEC), Ripple recently recorded yet another landmark victory, as the regulatory body saw its motion to file an interlocutory appeal in XRP lawsuit rejected.
The implication of the above development in the SEC versus Ripple battle is that the regulatory body is almost on the verge of losing the legal contest with Ripple, which could invariably extend to other crypto platforms that might be on the commission’s radar.
On the other hand, just like the outcome of Judge Torres’s ruling in July, XRP should be gearing up for a potential increase in market valuation. Also, the digital asset will attract more investors, as faith in the crypto project seemed to wax stronger following the recent court victory.
XRP Lawsuit Denied Ripple Of Completing Partnership Deals
In an interview, Paul Zalai, the Free Trade Agreements (FTA) director in Australia, disclosed that Ripple had initiated moves in the past to form a collaboration with major stakeholders in the financial industry.
According to the director, Ripple had met with the representatives of the implied institutions, especially banking firms to describe its offerings.
🔥🔥Insane NEWS!! 🔥🔥"#Ripple came to us and explained their offerings to me and a group of major #bank representatives and because of the court case, we didn't proceed. Now that the case is over, we will follow up with #Ripple to enable Cross Border Payments!! "WOOOOOOWWWW!!!… pic.twitter.com/3Jv4FYNOM5
— Flip The Chain (@flipthechain) October 5, 2023
However, due to the protracted court battle, most discussions were halted as none of these banking firms would want to be on the SEC’s blacklist for breaking regulatory guidelines. These and several other factors contributed to XRP’s downhill price movements despite displaying a glimpse of proven potential in previous years.
XRP Surge Appears Imminent
As expected, XRP adoption is on the verge of surging, as several financial outlets have indicated interest in resuming discussions for potential partnership deals with the now-cleared crypto firm.
Read Also: Ripple CTO: XRP Is Second To Only Bitcoin In Terms of Crypto With Regulatory Clarity In US
Collin Brown, a blockchain researcher and crypto enthusiast, recently disclosed that most banks have shown the desire to revolutionize cross-border payment via a partnership with Ripple with XRP in the heart of the whole integration.
Part of Collin’s tweet read this; “Now that the case is over, we will follow up with Ripple to enable Cross Border Payments!!”
🌐💥 Ripple's Comeback! 💥🌐
— Collin Brown (@CollinBrownXRP) October 6, 2023
Major banks ready to reignite partnerships after court case resolution! 🔥
"Now that the case is over, we will follow up with #Ripple to enable Cross Border Payments!!"
Cross-border payments revolution on the horizon!🚀🚀🚀 #Ripple #XRP pic.twitter.com/ugrvY4Sgv6
It is left to see how events unfold in the future. However, the prevailing situation is certainly setting XRP on the right path of becoming a major hit soon.
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