In next few days the long-standing SEC vs. Ripple case will be permanently closed. Ripple tech is already utilized by hundreds of banks and financial institutions, including:
» Santander (USA)
» Canadian Imperial Bank of Commerce (Canada)
» Kotak Mahindra Bank (India)
» SBI Holdings (Japan)
» IndusInd Bank (India)
» InstaReM (Singapore)
...and many more.
Now Big Question: Is $XRP will make a comback with this?
Due to ongoing case, $XRP missed out on major rallies in past. But now case is about to end and this is what we can expect. Chart Analysis: What the Data Tells Us • $XRP has been forming a massive symmetrical triangle pattern since May 2017.
• A breakout is anticipated in this cycle, potentially fueled by the bull run rally and the declaration of XRP as a non-security.
• All indicators point towards a significant price increase.
Key Updates from the Last Week
1. 2020 Correction: XRP experienced a 75% correction due to the SEC lawsuit. Last week’s judgment favored Ripple, with a $125 million fine for security violations.
2. Nationwide Adoption in Japan: On August 9, 2024, Japan announced its nationwide adoption of XRP, integrating Ripple into its financial system.
3. Launch of Stablecoin: Ripple is planning to launch a stablecoin on the XRP Ledger, with advanced interoperability features.
4. 90 Million Ledgers Closed: The XRP Ledger recently achieved a milestone of 90 million ledgers closed.
5. India-UAE Agreement: India and UAE have agreed to use the XRP Ledger for oil transactions, further solidifying its role in global finance.
Conclusion: These developments indicate the increasing potential of $XRP and its ecosystem. With cross-border transactions, banking integration, and institutional adoption on the horizon, XRP could soon become a crucial asset in the global financial landscape.
