Ripples Legal Battle with SEC Sparks Optimism for U.S. Banks Return to XRP Payments

Ripple Anticipates U.S. Banks to Return to Its On-Demand Liquidity Product Following Legal Ruling

Ripple expects U.S. banks and financial institutions to resume using its On-Demand Liquidity (ODL) product, which utilizes XRP as a bridge for cross-border payments, after a mixed ruling in its legal battle with the SEC. Ripple’s Chief Legal Officer, Stu Alderoty, stated that the company plans to initiate talks with financial firms this quarter. The ruling has provided potential customers with the reassurance to discuss their challenges in moving value across borders without expensive fees. Notable partnerships with Bank of America, American Express, and Santander were put on hold pending the conclusion of the case. Ripple achieved a partial victory in court, with Judge Analisa Torres ruling in favor of both the SEC and Ripple on different aspects of the dispute. The SEC accused Ripple of illegally raising funds through the sale of XRP. The ruling has had a positive impact on XRP’s price and trading volume.

Key Points:

– Ripple anticipates U.S. banks and financial institutions will return to its ODL product.
– Talks with financial firms are planned for this quarter.
– The legal ruling provides potential customers with comfort to discuss their cross-border payment challenges.
– Bank of America, American Express, and Santander had partnerships with Ripple on hold.
– Ripple achieved a partial victory in court, with the SEC accusing the company of illegal fundraising.

Hot Take:

Ripple’s legal battle with the SEC has resulted in a mixed ruling, but the company remains hopeful that financial institutions will once again utilize its On-Demand Liquidity product. The ruling has provided reassurance to potential customers and has the potential to restore confidence in Ripple’s business. As the crypto industry celebrates Ripple’s partial victory, the future of the legal battle and the impact on Ripple’s partnerships and customers remains uncertain. However, the price of XRP has surged following the ruling, indicating a positive market response.