Crypto's Rising Star: Exploring XRP's Legal Wins & CBDC Potential – Coinpedia Fintech News
November 30, 2023XRP has been around for six years and has maintained a top-five spot for most of that time.
The SEC lawsuit against Ripple has been settled, and XRP is not considered a security.
XRP has the potential to be used in central bank digital currencies (CBDCs).
Five years back, XRP stepped onto the scene at a humble $0.50. Zoom to November 30, 2023, and it’s holding its own at $0.6012. While it might not be making headlines like Bitcoin or Ethereum, the tale it weaves is far from ordinary.
Cue Bill Morgan, an Aussie lawyer stirring discussions with his recent take on XRP. He sheds light on an interesting twist in XRP’s growth post a lengthy SEC lawsuit. Read on for his insights!
XRP’s Resilience: A Six-Year Stint
Despite its slow dance with prices, XRP has maintained a top-five spot for over six years—a feat Bill Morgan calls unprecedented. With legal dust settling, there’s buzz about whether XRP can break its mold and aim for bigger growth.
Looking back, XRP hit a high of $3.84 in January 2018 and a low of $0.002802 in July 2014. That’s a whopping 21592.27% jump from low to high and an 84.18% dip from high to low. These swings before and after January 2018 showcase XRP’s ability to weather storms, especially regulatory ones.
Also Read: Is XRP’s Price Being Manipulated? Shocking Claims Surface
XRP’s Turning Point
Ripple’s tussle with the SEC shook XRP, accused of selling unregistered securities. But a recent win, with Judge Torres declaring XRP not a security, signals a turnaround. Add the U.S. Federal Reserve’s eye on XRP for central bank digital currencies (CBDCs), and things get even more interesting.
Read More About This: Ripple News: Federal Reserve Examines XRP’s Role in CBDCs
Talks on using XRP in CBDCs spark varied reactions. Banks appreciate Ripple’s offline moves, and construction pros pitch XRPL for side chains. XRP’s potential is a mix of diverse and captivating possibilities.
As XRP sails through the crypto waves, its story is far from over. Legal roadblocks are easing, and with CBDCs in the mix, XRP could be on the brink of a new chapter. The next months and years will reveal if XRP can turn its steady beat into a groundbreaking rhythm.
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