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XRP continues to attract attention with its recent decline, and the positive news from the lawsuit has not made a significant difference for XRP in the long term. Despite expecting significant changes with the positive news, XRP investors were disappointed. Nevertheless, some changes have been observed regarding XRP and Ripple in certain circumstances.
XRP Lawsuit: Possibilities for a Decision Increase Before the End of the Case
Ripple stands out especially with cross-border payments and mostly uses XRP in this area. Bill Morgan, a well-known lawyer in the cryptocurrency sector, highlighted that institutions using XRP and doing so for cross-border payments do not create an investment precedent for profit. However, this was announced and acted upon in the ongoing XRP lawsuit.
With this statement, Morgan expressed his disagreement with the decision in the Ripple case. The famous lawyer, stating that XRP sales for Ripple’s ODL product cannot be an investment contract, explained the reasons for this. In his statement, Morgan implied that XRP serves as a bridge asset. When a Twitter user responded to this, Morgan did not hesitate to reply.
After emphasizing that XRP can be defined as a medium of exchange or currency, Morgan reminded the Judge Torres, who is handling the case, also defined XRP’s characteristics as “money” and “commodity.” This actually aligns with Morgan’s statements.
Positive Situation for XRP
Ripple CTO David Schwartz stated in his comments that many CBDC platforms will work with the XRP network. Schwartz emphasized that these platforms will actually use the technology and highlighted that XRP will serve as a bridge asset.
In this context, XRP actually functions as a transit product, and central banks that will receive it see it as a means to transfer assets rather than to make a profit. These circumstances and statements seem to be able to bring significant changes to the ongoing case and turn the situation in favor of XRP.
