It appears Ripple is geared towards more vigorous days. XRP holders and enthusiasts continue to champion the network despite the ongoing lawsuit and court battle with the Securities and Exchange Commission (SEC).
The fandom, popular known as the “XRP Army,” has recently launched a series of online movements. This move aims to seek the relisting of the cryptocurrency on exchanges that had delisted the token following Ripple’s legal tussle with the SEC.
Community members all over the world have joined the call across different social media platforms to pressure crypto trading platforms to bring back XRP.
These calls come as the SEC finds Ripple and its Execs responsible for securities violation offense; the commission affirmed this in a comment through its legal team in a hearing of the lawsuit. The turmoil has prompted the XRP Army to constrain crypto exchanges to relist the digital asset. XRP enthusiasts claim the ongoing court case should not affect trading of the digital asset.
Beyond no reasonable doubt, the SEC vs Ripple lawsuit has greatly affected the blockchain network. The suit has seen XRP lose its market valuation and drop in market rankings. Ripple still has several strategic moves to revive the system.
Other than losing its market valuation, the remittance network has also lost one of its key business partners; MoneyGram. The American money transfer company had to end its partnership with Ripple but still hopes to reconnect in the future when there’s a stable ground.
CEO Brad Garlinghouse recently cited that the court proceedings have not affected business deals with its Asia business partners. Ripple associates in Asia like SBI Holdings have remained supportive despite the strict legal times.
The system has continued with promising projects despite the agonizing times. They appear to be working hard to improve and launch a new outline to establish a solid base in cross-border payment solutions.
There’s been increasing interest from several banks wishing to use Ripple’s ledger to facilitate central bank digital currencies, also known as CBDCs. These banks believe that Ripple’s network plays a critical role in changing the dynamics of cross-border payments.