Ripple’s partial victory over the US Securities and Exchange Commission has created a new buzz around the XRP token. Several exchanges have relisted the token.
As a result, the injective community recently voted to pass a proposal to include an XRP/USDT perpetual pair. Let’s discover more about this important partnership.
XRP on Injective?
The move is expected to boost XRP and USDT liquidity on the injective protocol. This news was shared on the official Injective Protocol Twitter handle and marks the resurgence of the XRP token on the crypto market.
#Stakewolle Governance
✅ to @Injective_ prop #238
This proposal will launch the $XRP/ $USDT PERP Market.$XRP currently has big interest and activity in the market.
It may attract new traders and investors in the ecosystem of $INJ pic.twitter.com/ASxYMdSPej— Stakewolle (@stakewolle) July 17, 2023
Ripple’s XRP was delisted from several exchanges in 2020 following the SEC’s lawsuit. It claimed that the token was an unregistered security. However, last week’s ruling appeared to have opened up a new chapter for the token ahead of the bull market, and many believe XRP could be one of the standout performers in the coming months.
What’s Next for Ripple?
However, despite the recent jubilations across the crypto community, it is important to mention that the Ripple vs. SEC case is far from over. The regulator got its fair share of victory in last week’s ruling and could capitalize on that to return to court.
Last week, Judge Torress ruled that the sale of the XRP token to institutions was an investment contract. One major reason the SEC went after Ripple and XRP was on the basis that the token passed the Howey Test. The court ruled that Ripple’s sale to institutional clients was an investment contract. This leaves a loophole in Ripple’s victory and could see both parties head back to court.
XRP is not a security.
This victory for @Ripple is a win for the entire industry and a step toward regulatory clarity in the U.S.
A huge thank you to @bgarlinghouse, @chrislarsensf, and @s_alderoty for their leadership and the #XRPCommunity for their continued support.
— Ripple (@Ripple) July 13, 2023
Reacting to the recent ruling, SEC chairman Gary Gensler said, “We are pleased with that decision recognizing the importance of protecting investors—institutional investors—and the court movement regarding fair notice, and while disappointed [by] what they said about retail investors, we are still looking at it and assessing that opinion.”
There are several indicators that the Ripple case is far from over. Last week’s ruling established that XRP is not a security. But it also left room for more answers. Furthermore, precedent-setting cases like this could end up in the US Supreme Court and take time to conclude.
As a result, considering this adoption of XRP by injective, it is likely that this trend will continue to expand to other protocols. On the other hand, it is very likely that there will be a large demand for XRP from very large investors.
Is Now the Best Time to Buy Ripple?
Considering recent events, Ripple’s XRP is an appealing token to invest in, especially as it still trades below $1. Also, crypto exchanges have reopened their doors to the token, so the future looks promising.
I’ve had a chance to fully review the SJ ruling in the SEC v. Ripple case #XRP , and this appears to be a win. Ripple is likely going to take a ding, some things are going to go to trial, the secondary status of XRP is “unclear”, but I still think Coinbase relists after this. https://t.co/s034YRIhaI
— Jesse Hynes 🌱 (@jesse_hynes) July 13, 2023
However, one has to be objective. We advise that you do your research before investing. Although there’s a lot of hype around XRP, we do not advise making bulk investments yet. It is best to diversify your portfolio. This way, you reduce the risk of losing big on one crypto.
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