In a tweet, renowned XRP enthusiast and Twitter user Stedas shed light on the fervent hopes and expectations of the XRP community as the highly-anticipated Ripple lawsuit draws closer to its conclusion.
With bated breath, the XRP community eagerly awaits three pivotal events that could potentially reshape the future of this digital asset. First on their wishlist is the long-awaited Ripple vs. SEC case resolution.
Should the ruling declare XRP as a non-security, it would undoubtedly ignite a wave of jubilation within the XRP ecosystem.
Furthermore, the XRP faithful anxiously anticipate the moment when their beloved cryptocurrency surges to its previous all-time high (ATH) of approximately $3.5, or better yet, breaks through this threshold and embarks on a thrilling journey of price discovery.
It would provide a substantial boost to XRP holders’ confidence and pave the way for new possibilities in terms of market dynamics and investor sentiment.
However, the XRP community’s aspirations don’t end there. In a surprising twist, Stedas expressed the desire for Gary Gensler, the current chairman of the U.S. Securities and Exchange Commission (SEC), to be relieved of his position.
Gensler’s leadership has been marked by increased regulatory scrutiny in the crypto space, which has drawn mixed reactions from industry participants.
For some XRP enthusiasts, a potential change in leadership at the SEC could potentially usher in a more favorable regulatory environment for XRP and its vibrant ecosystem.
However, as the Ripple lawsuit inches closer to its climax, XRP enthusiasts remain resolute in their hopes for a favorable outcome, a triumphant return to the previous ATH, and the possibility of a shift in regulatory dynamics. Only time will reveal whether these aspirations will become a reality.
Ripple Secures In-Principle Payments License In Singapore
In a significant development, Ripple, the company, has been granted an in-principle payments license in Singapore, signaling a continuation of its recent successful expansion.
This license, obtained by less than 20 companies in Singapore, paves the way for Ripple’s utilization of XRP, its native digital asset. Surprisingly, despite this positive news, XRP has shown minimal movement in the market.
John E Deaton, a representative from Crypto-Law.us, expressed his thoughts on the matter, highlighting the importance of this achievement. He noted that receiving such a license is a notable accomplishment, considering the limited number of companies granted this privilege in Singapore.
Deaton further emphasized that, given the close association between XRP holders and Ripple, one would expect XRP to react more significantly to Ripple’s successes. However, the market behavior of XRP remains in line with its historical pattern of following the movements of Bitcoin and the overall macro environment.
Ripple’s acquisition of the in-principle payments license in Singapore is seen as a significant milestone for the company. With this license, Ripple can leverage the benefits of the Singaporean market and utilize XRP for various payment-related services.
Related Reading | FTX Files Suit To Recoup $800M From SBF’s Benefactors