The tug war between #SEC and #XRP finally comes to an end. It is XRP who won the case and the justice got delivered after multiple atrocities from SEC. But have we realized what this victory means to all of us? What impact does it have on other Cryptocurrencies after XRP deemed as non-security.
In today's article we will talk about XRP win and its impact on industry. Let's deep dive:-
With regulatory clarity, XRP might gain more mainstream acceptance and usage in various industries. Businesses may be more willing to explore partnerships and integration of XRP into their operations, potentially expanding its use-cases beyond the realm of speculative trading. Bigger banks with trillions of dollars in their nostro-vostro could work with Ripple as it perfectly solves this problem of idle money locked for days.
This decision in favor of XRP might prompt regulatory bodies, including the SEC, to review and potentially revise their approach to classifying and regulating crypto. This could lead to more comprehensive and clear guidelines for the industry, which might be beneficial for both market participants and regulators.
The classification of XRP as a non-security may have implications for exchanges and trading platforms that were hesitant to list it due to regulatory concerns. Now we could see increased adoption and trading volume. Keeping in mind 2017 Bull, my estimation is that XRP volume could reach up to $100B during bull peak. I have seen that mania previously and I am expecting it to happen again in 2024.
The price of XRP could explode considering its liking overall in the industry and its use case. I believe we could see XRP somewhere around $10-$15 by Q4 2024 that's like a 20x from its current price.
I recommend holding some XRP in your portfolio.
