In a recent news release, Fortune Crypto Editor Jeff John Roberts cited that the enterprise blockchain solutions he provides provide a long-term value proposition to this altcoin project.
Fortune editor sees this altcoin technology as key to sustainable success
In a recent article, Roberts claimed that Ripple has finally found a long-term value proposition for the company and XRP Ledger’s native token, XRP. In a news release titled “Ripple and XRP may finally come true,” Roberts reveals that he had always been skeptical of the value proposition of XRP until he met with Ripple President Monica Long this week.
As highlighted by Roberts, Ripple’s ODL product has grown rapidly over the past two years, reaching 40 payment markets today from just three countries in 2020. This development represents about 90% of the foreign exchange market. Roberts explained that Ripple has achieved this growth by focusing on partnerships with small and medium-sized banks seeking low transaction costs.
In terms of context, Ripple’s ODL product uses XRP as a bridge currency to allow almost instant cross-border payments at low cost. In conclusion, the author expresses his belief that with this model, the company can be positioned to succeed regardless of the outcome of its legal battle with the SEC:
All this is to say that Ripple has more than ever found a long-term value proposition for both the company and XRP, and may be ready to succeed no matter how the major court case turns out.
How about the SEC case?
Blockchain payments company Ripple has been locked in a legal battle with the SEC that has been going on for over two years. The SEC argues that XRP is an unregistered security, claiming that the sale of XRP to finance Ripple’s business violates securities law.
In recent developments, XRP rallied 20% on March 22, when Ripple defendants heralded a positive opinion in their case before the SEC.
Earlier this week, Ripple defendants filed a new file in support of their fair notice defense. The filing referenced decisions regarding SEC appeals in the Voyager Digital Holdings bankruptcy case. He noted that while Judge Michael Wiles, of the US Bankruptcy Court for the Southern District of New York, dismissed the SEC’s appeals, he approved most of the arguments presented by the Ripple defendants.
“As rumors float that Ripple and the SEC have likely agreed on a deal, we are seeing the XRP price bounce by double-digits and rise above long-standing resistance levels,” said Henry Liu, CEO of crypto platform BTSE. cryptocoin.com As we reported, the SEC has come to the fore in recent weeks with its sanctions on brands such as Binance, KuCoin and Tron.
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