The head of legal affairs at crypto company RippleStu Alderoty, expects US banks to start using again soon XRPRipple’s coin. Ripple also expects to be on demand liquidity (OLD) product will be used again.
Ripple hopes for returning confidence
Ripple expects US banks to use its products again. This expectation is based on the recent partial victory in the court case between Ripple and the US Securities and Exchange Commission (SEC).
The SEC filed a lawsuit against Ripple in December 2020 alleging unlicensed Ripple’effectswould sell. However, Judge Torres, who is now dealing with the case, (partially) disagreed last week. According to her, XRP is not a security when traded on crypto exchanges.
This news sparked a party at Ripple’s headquarters and unleashed a significant price increase. Ripple now hopes that banks will use its products again due to the reduced risk, including XRP and ODL. Ripple uses XRP as a “bridge” to move fiat currencies, such as the euro and dollar, to other countries.
Ripple is making plans, lawsuit not over yet
According to Alderoty, plans have already been made with US banks to discuss Ripple’s products. In a interview with CNBC Alderoy says the following:
“I think we are hopeful that this decision (by the court) gives financial institutions the confidence to start a conversation with us about what problems they have with the business aspects of moving value across borders without the associated sky-high sanctions.”
Ripple’s price increase and new plans paint a different picture, but in fact the lawsuit is not over yet. The SEC has been proven right about the direct sale of XRP and the regulator can still appeal.
