Crypto market analysts Ido and Vanel recently discussed Ripple’s legal battle with the SEC, which has drawn significant attention. The lawsuit looks to be nearing its conclusion, with both parties having reasons to claim some measure of triumph. While Ripple has decided not to appeal at this time, the SEC may still consider an appeal. Last week, Ripple was ordered to pay a $125 million civil penalty by a federal court, significantly higher than the $10 million it initially proposed, highlighting the SEC’s partial win in the case.
Vanel noted Ripple’s resilience throughout the lengthy legal process, emphasizing that the company’s core business operations have remained strong. He also stated that, given the legal successes Ripple has achieved over the last year, as well as the Company’s expanding links with central banks and a group of financial institutions, Ripple is in a strong position in the market. Vanel also mentioned that XRP is now playing an increasingly important role in the future of the financial system. He said that short-term price fluctuations in XRP, such as a brief surge following the most recent court verdict, might be a bear trap meant to dissuade regular users while institutions accumulate XRP.
Also Read: Ripple Pushes for Regulatory Approval of RLUSD Stablecoin Amid Market Developments
Ido agreed with Vanel, noting that Ripple’s ties to government and financial institutions show its strategic importance. He emphasized that the SEC’s aggressive approach toward Ripple, unlike other crypto firms, underscores Ripple’s critical role. Ido also mentioned his significant XRP investment early in the lawsuit, seeing the SEC’s focus as a sign of Ripple’s relevance.
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Strategic Partnership & The Future of Ripple
Vanel discussed Ripple’s relationships with intelligence agencies and venture capital organizations, emphasizing their significance in understanding Ripple’s function. He noted that Ripple prioritises institutional clients such as banks above individual consumers.
Ido addressed concerns regarding the clawback mechanism on the XRP Ledger, stating that it does not apply to XRP. He noted that this capability is critical for stablecoin and CBDC acceptance, reinforcing Ripple’s primary use case. These developments coincide with Ripple’s impending litigation settlement with the SEC, establishing the business as a critical participant in the changing financial scene.
Also Read: Ripple Co-Founder Comments on SEC Ruling, Celebrates Victory
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.