Ripple could be on the cusp of a landmark event regarding the adoption of its native XRP cryptocurrency by U.S. banks, according to hints from CEO Brad Garlinghouse and crypto commentator Ben Armstrong.
This speculation carries immense weight considering Ripple’s long-standing legal battle with the SEC over XRP’s status as a security, which hindered adoption and price growth. However, a favorable July ruling giving XRP definitive legal clarity seems to have opened the floodgates.
Armstrong dug into Ripple’s history of addressing XRP’s technical limitations that previously impeded bank utilization. Solutions like RippleNet and On-Demand Liquidity have since made XRP an integral part of powering faster, cheaper cross-border transactions.
Citing Garlinghouse’s recent remarks about the U.S. market opening up, Armstrong anticipates a major announcement as early as next week confirming domestic banks will embrace XRP to tap into its “true value proposition.”
The potential adoption would validate Ripple’s vision of widespread XRP integration years in the making. It would also represent a seminal moment for the broader blockchain industry if a prominent digital asset secures a vital institutional use case in global finance.
After years hampered by legal woes, Ripple seems strategically poised to unleash XRP as its CEO noted the final regulatory hurdles clearing the way for the company’s solutions to shine. Key U.S. bank adoption would light a fire under XRP’s price after months of underperformance.
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