XRP has been turning heads in the crypto world for many reasons recently, and now, it is in the news again. Wall Street veteran Linda P. Jones, a respected financial expert and author, recently took to X to express her perspective on XRP. According to Jones, “#XRP is not just any crypto.”
Jones’s assertion arrives at a time when debates about the most appealing and functional digital assets are at their peak. Yet, she rightly pointed out that XRP boasts a range of distinctive characteristics that set it apart from its counterparts.
#XRP is not just any crypto! Get it?
— Linda P. Jones (@LindaPJones) October 18, 2023
Regulatory Clarity and Certification as a Non-Security
One standout feature of XRP is its exceptional regulatory status. It is the only alternative cryptocurrency that holds regulatory clarity in the U.S., being legally recognized as a non-security asset.
Ripple’s Chief Technology Officer (CTO) once highlighted this clarity as a significant development for XRP, and this was reinforced by the denial of the interlocutory appeal filed by the United States Securities and Exchange Commission (SEC).
In contrast, the classification of other cryptocurrencies remains uncertain, with the potential of legal challenges by U.S. regulators looming over them.
Backing from Major Financial Institutions
Additionally, XRP enjoys strong backing from major financial institutions, including Ripple and Japan SBI Holdings. In a groundbreaking move, SBI Remit, a Japanese payment giant, launched an international fund transfer service powered by XRP. This innovative remittance service aims to enhance cross-border payments in Vietnam, the Philippines, and Indonesia.
The Bank of France is also considering XRP as a bridge currency for its digital Euro CBDC project. Ripple was also recently shortlisted as a key player for the National Bank of Georgia’s CBDC project.
In addition, Ripple has been in talks with the Australian Freight and Trade Alliance (FTA) for a potential partnership which the head of the organization recently confirmed. Very few cryptocurrencies come close to the level of adoption XRP has received from major financial institutions and countries.
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Community Engagement and Performance
Beyond its role in finance and international payments, XRP holds a unique appeal in the crypto market. Prominent social intelligence company LunarCrush (@LunarCrush) recently ranked XRP among the top 10 trending coins by social media engagement. This popularity highlights the thriving interest and support for XRP in the digital asset landscape.
It’s also worth noting that the SEC has finally dropped all claims against Ripple executives, CEO Brad Garlinghouse and Chairman Chris Larsen. This resulted in a massive surge of XRP in the market. At the time of writing, XRO is trading at $0.5118, with a relatively 6% price uptrend in the last 24 hours.
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