Ripple optimistic: American banks could use XRP for international transactions after the company has achieved cheap outcome in legal dispute with SEC

Ripple optimistic: American banks could use XRP for international transactions after the company has achieved cheap outcome in legal dispute with SEC

ripple is confident that American banks will develop interest in using their cryptocurrency XRP for international transactions. This optimistic assumption is based on a significant judgment of the past week in which a judge in New York has decided that XRP cannot be regarded as a securities. This decision raises doubts about the accusations of the US stock exchange supervisory authority (SEC) against Ripple.

ripple has actively campaigned for the use of XRP as a bridge currency for banks and financial institutions. Large companies such as the Bank of America, American Express and Santander have worked with Ripple to enable cross -border payments. The fast payment system from Ripple enables international billing in real time and facilitates the creation of real-time gross accounting systems for international trade.

The high market capitalization of Ripple and its use in international markets make XRP a trustworthy token for buying fiat currencies like USD. Banks can therefore keep their XRP reserves and quickly convert to USD and local currency reserves.

In the course of the legal dispute, Ripple has lost an important customer and partner, Moneygram. In addition, the British investor Tetragon sold his shares back to Ripple after a lawsuit against the company was unsuccessful. Although Ripple's partial victory was celebrated by the crypto industry, there is still the possibility that the SEC appeals against the decision. However, experts are unsure whether this will actually happen.

When banks introduce XRP as a medium of exchange, this will increase the benefits and acceptance of cryptocurrencies as a whole and thus promote the entire crypto community. The price of XRP rose to $ 0.95 after the mixed decision and reached the highest level in over a year. The daily trade volume rose 18 times. XRP is currently being traded at $ 0.74, with a 24-hour trading volume of 2,232,599,820.05 $

increased use of XRP by banks for transactions would herald a new phase for cryptocurrencies and benefit ripple. International banks should consider this form of digital currency as a possible future of the bank.