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During the midst of the bull market, while all altcoins were experiencing parabolic rises, Ripple (XRP) investors were disappointed due to the restrictions on XRP coin demand caused by the ongoing lawsuit. Moreover, exchanges in the US jurisdiction were unable to list the token due to the concerns raised by the active lawsuit filed by the SEC. However, this is about to change.
The XRP Coin Lawsuit
The summary judgment allowed XRP coin investors to make more profits in the short term compared to investors who trusted many other altcoins. A few months ago, the $0.5 target seemed to be an unreachable goal, but now the $1 target is closer than ever. Furthermore, it is expected that the popular altcoin will rise even further when there is an update regarding the settlement conference that will affect the course of the lawsuit.
However, there is an important detail that should not be overlooked. The supply of XRP coin is much higher than in previous bull markets in 2021. Therefore, in order for the price to reach the target of $3 or higher, it needs to reach a much larger market value. For this reason, Ripple should not abandon XRP Coin. If Ripple’s CBDC partnerships provide the expected benefits to XRP Coin in the future and if smart contract capabilities are introduced with XRPL, the target of $3 or even higher can become an easier goal to achieve.
Ripple (XRP) Today and Its Future
Ripple and XRP have been trying to be transformed into two different “entities” due to the lawsuit filed against them. However, they are inseparable. Therefore, we can observe that their unity strengthens even more when the concerns of the lawsuit are resolved. So, Ripple’s future plans should also have a positive impact on XRP Coin. Just an hour ago, Ripple shared its expectations and ongoing projects for today and the future through its official channel.
The first highlighted point in the video was MiCA.
“Parallel to the recent Crypto Assets Markets (MiCA) regulation, which entered into force shortly, the European Commission has announced a comprehensive Digital Finance Package strategically designed to reduce risks associated with money laundering and security breaches. This transformative package not only encourages the adoption of cryptocurrencies and central bank digital currencies (CBDCs) for financial innovation, but also prioritizes accelerating cross-border payments and payment settlement times. An important component of this groundbreaking EU Financial Package is the proposed Distributed Ledger Technology (DLT) Pilot Regime.”
Then, Ripple’s role in this regard was discussed.
“Building on this foundation laid by the proactive initiatives of the EU, Ripple and SUPER HOW? launched an ambitious collaboration known as the Axiology project. This collaboration will serve as a catalyst for testing and issuing digital assets, including central bank digital currencies (CBDCs) and stablecoins, thereby enhancing regulators’ trust in the security and safety of these transformative digital assets.
Axiology is a tokenized securities trade and settlement system (DLT TSS) infrastructure. This infrastructure allows multiple layers of existing capital market infrastructures to coexist in a single technology layer, enabling multiple collaborations, process efficiencies, and new business models. This collaboration is in line with Ripple’s commitment to promoting innovation and advancing the adoption of blockchain technology in the financial sector.”
The CEO of Axiology stated:
“The current regulatory environment shaped by the EU’s individual capital markets and initiatives in the crypto economy creates an excellent development environment. It requires the emergence of these new types of infrastructures. We strongly support the EU’s direction and want to be part of this movement.”
The Axiology project, built on the technology of the XRP Ledger, seems to contribute significantly to the future of the token.
Finally, James Wallis, a senior executive at Ripple, said:
“We are happy to collaborate with SUPER HOW? and Axiology and further enhance our commitment to providing real-world use cases for CBDCs. The project aims to develop a compliant infrastructure under the EU DLT Pilot Regime. The settlement of tokenized securities requires a tokenized settlement entity such as CBDC or stablecoin. This will enable the instant issuance and trading of a security asset, such as a bond or stock. This project will provide valuable insights for a future CBDC that European banks can issue.”
