As a seasoned crypto investor with a knack for spotting opportunities, I find myself intrigued by the latest developments surrounding Ripple and XRP. Having weathered numerous market fluctuations over the years, I can’t help but see the potential in this situation.
Following Ripple‘s victory in their lawsuit against the SEC, lawyer Fred Rispoli is advocating for Elon Musk, an influential American entrepreneur, to incorporate XRP into X Payments. The pro-Ripple attorney has now asked Musk to make a public statement that “XRP will be included in the X Payments platform.” Notably, Judge Analisa Torres’ recent decision in the Ripple vs SEC case appears to have shifted the momentum towards Ripple, a notable American blockchain payments company.
Fred Rispoli Urges Elon Musk For XRP Integration
In Fred Rispoli’s post on X today, August 8, the attorney suggested that Elon Musk could take advantage of a legal opportunity to express dissatisfaction towards the SEC following its loss against Ripple. He emphasized the potential addition of Ripple’s native cryptocurrency to the X payments system, saying, “I believe Adam would support this move if it went through the necessary legal channels.”
In response to the SEC’s recent loss in the Ripple lawsuit, these points have been widely discussed within the industry:
Meanwhile, “The current sales of XRP following the complaint are not automatically against federal law,” Rispoli pointed out in a recent post on X. Yet, he also mentioned, “This dispute will be addressed in a future legal action.”
Despite a recent court decision significantly benefiting Ripple, its native token experienced a 17.5% surge today. If Elon Musk, CEO of Tesla and SpaceX, were to endorse Rispoli’s comment, it could further boost the asset’s positive outlook. However, it’s important to mention that Musk has not yet responded to the post as of now.
Ripple’s Native Crypto Soars
Currently, the value of XRP has risen by 18.37% over the last day, reaching a price point of $0.6064. Its lowest and highest points during this 24-hour period were $0.4942 and $0.6408 respectively.
Previously stated, the latest price surge of Ripple seems consistent with the lawsuit’s resolution. Yet, it’s important to note that both parties have 60 days to lodge an appeal against the verdict in court. The crypto community is eagerly watching for any further actions from the SEC regarding this case.
Furthermore, it was found through Coinglass analysis that the futures Open Interest (OI) of the coin increased by 47.40%, and derivatives volume surged by an impressive 474.34%. This increase, coupled with today’s price surge, suggests a potential upward trend in Ripple’s cryptocurrency market.
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2024-08-08 11:05