- XRP enthusiast notes 2017 ATH pattern resemblance, hints at potential bull run.
- This surge has been awaited since XRP classified as non-security, setting precedent.
- Ripple CEO hints at US banks adopting XRP for payments.
In a recent analysis, a devoted Ripple and XRP supporter has pointed out striking similarities between the current XRP price chart and its movements in 2017 when it reached its all-time high (ATH). Speculation arises whether this pattern indicates an imminent XRP bull run. One potential catalyst for this surge could be the increasing adoption of XRP by major US banks.
Following a legal battle with the Securities and Exchange Commission (SEC) since 2020, Ripple has overcome regulatory challenges. The 2023 court ruling by Judge Analisa Torres, classifying XRP as a non-security, granted the cryptocurrency legal clarity. This distinction from other digital tokens sets a precedent for its future use, marking a turning point for Ripple.
Ben Armstrong, a prominent figure in blockchain, emphasizes the significance of this legal victory for XRP’s vision. Judge Torres’ decision validates Ripple’s long-term strategy and adherence to regulatory standards.
Ripple responded to challenges by enhancing RippleNet and introducing On-Demand Liquidity (ODL). The latter addressed a previous flaw, requiring banks to hold XRP for transactions. The strategic shift, aligning XRP’s utility with its adoption, enhances its relevance in international banking transactions. This change is seen as a crucial value proposition, potentially broadening XRP’s adoption.
Ripple CEO Brad Garlinghouse hints at a groundbreaking shift, indicating US banks’ imminent adoption of XRP for international payments. This development holds immense significance, considering Ripple’s journey through legal and regulatory hurdles.
Garlinghouse’s strategic leadership plays a pivotal role, creating anticipation across the blockchain and financial sectors. The awaited announcement may signal a major step toward integrating digital currencies into traditional banking systems, reflecting the transformative potential of XRP.
