Despite ongoing regulatory challenges in the US, Japan and BRICS continue to embrace Ripple (XRP) and its infrastructure.
Notably, 80% of Japanese banks are now working with Ripple to enhance international payments, showcasing how far blockchain technology has advanced in traditional finance.
Renowned analyst Crypto Tank pointed out that the SEC's appeal against Ripple has not deterred Japan and the BRICS nations from adopting XRP, showing XRP resilience and its growing position in the global financial system.
Vladimir Putin also recently announced a blockchain-based payment system for BRICS, with claims that this news system will enable international trade between BRICS nations free from interference by Western financial institutions. In comparison to established systems like SWIFT, XRP provides a faster and cheaper alternative for users .
Ripple's XRPL also recently announced its Japan and Korea Fund, aimed at supporting blockchain innovation and community growth. Ripple has already processed over 20 million transactions totaling $30 million, further boosting investor confidence.
Analysts hoped that XRP could one day be a worthy competitor of the SWIFT system, although Ripple still has a long way to go in catching up with SWIFT's established global network.
Ripple's technological advancements and global bank adoption will potentially boost the price trajectories of XRP in the coming years. The engagement from institutional investors and major financial institutions hints at growing confidence and potential integration of XRP in broader financial operations.
Many have said that the SEC case is irrelevant to the global adoption of XRP, as evident in the unwavering support from Japan and BRICS.
XRP has proven its utility in cross-border payments, and experts are forecasting that XRP could experience significant growth. As it continues to capture more and more payments markets, it could pose a viable alternative to SWIFT, especially given the advantages of faster transaction speed and lower cost. But SWIFT has decades of confidence and an established network of more than 11,000 institutions, making XRP's task of overtaking SWIFT a long-term challenge.
Ripple (XRP) is currently trading at $5.5405, having surged by 0.35% in the past day and 2.15% in the past week.
The cryptocurrency community is enraged after Chris Larsen, co-founder of Ripple, revealed that he had made an additional $10 million donation in XRP to support Vice President Kamala Harris’s campaign.
XingChiRipple CEO Brad Garlinghouse revealed that Citigroup terminated his banking relationship due to his involvement in the crypto industry, highlighting the growing issue of de-banking for crypto professionals. He criticised the Biden administration's regulatory stance and expressed optimism for a more favourable crypto environment after the upcoming presidential elections.
AnaisDonald Trump has raised approximately $7.5 million in cryptocurrency donations for his 2024 presidential campaign, with major contributions coming from Bitcoin, Ether, and XRP. The influx of crypto donations reflects his shift from a critic to a pro-crypto candidate, gaining support from key figures in the industry.
AnaisRipple's CEO Brad Garlinghouse slams the SEC for ignoring a court ruling declaring XRP non-security, escalating the regulatory conflict.
Xu LinRipple’s Chris Larsen has donated $1 million in XRP to support Kamala Harris, joining other crypto advocates who believe her administration could offer a softer stance on blockchain regulation.
WenJunThe XRP community has launched a petition urging the SEC to drop its "baseless" appeal in the Ripple case. The petition has gained over 10,000 signatures, highlighting frustration with the four-year legal battle. Will this pressure end the lawsuit, or will it persist?
CatherineThe SEC has appealed its case against Ripple Labs, arguing the district court's ruling contradicts Supreme Court precedent and securities law. This follows Judge Analisa Torres' decision that Ripple's institutional sales violated securities laws, but retail sales did not. Who will emerge victorious this time round?
CatherineRipple celebrates a legal win over XRP, but the SEC’s likely appeal keeps the controversy alive as tensions escalate.
Xu LinHackers hijacked the Indian Supreme Court's YouTube channel Friday to broadcast ads shilling XRP, the seventh-largest cryptocurrency.
SanyaTurkey’s interest in joining BRICS reflects a strategic effort to diversify its economic and geopolitical partnerships. While there are potential benefits, challenges and uncertainties regarding the bloc’s influence and Turkey’s trade dynamics remain.
HafizBRICS nations shift to gold, reducing US Treasury holdings and reshaping global economic dynamics.
Huang BoMoscow proposes a blockchain-based payment system for BRICS to reduce reliance on the U.S. dollar, aiming for cost-effectiveness and independence.
MiyukiBRICS nations challenge US dollar dominance with new currency and growing alliance, signalling a shift in global financial power.
KikyoRussia leads BRICS in a strategic push for increased IMF influence, signifying a shift in global financial power dynamics.
AlexIran's entry into BRICS and the quest for a unified currency is a bold maneuver in international relations. It challenges the established financial order and reflects the dynamic nature of global power structures. As this narrative unfolds, it captivates global attention, potentially heralding a critical chapter in the history of global finance.
EdmundRussia, led by President Putin, plans to expand BRICS, welcoming Saudi Arabia, UAE, Egypt, Iran, and Ethiopia, signaling a global power shift. This contrasts with Argentina's skepticism under President Milei, rejecting BRICS over financial concerns.
EdmundBRICS nations are spearheading a strategic de-dollarisation movement, challenging the long-standing dominance of the US dollar in global trade and signalling a transformative shift in the traditional financial order.
JasperBRICS nations unveils plans for their collective currency, shaping the future of global finance.
Hui XinBRICS accelerates de-dollarisation efforts with digital Yuan amid expanding influence.
Hui Xin