Ripple seems to have more glorious days ahead of it. XRP owners and enthusiasts continue to defend the network, despite the ongoing lawsuit and judicial battle with the Securities and Exchange Commission (SEC).
The fandom, also known as the "XRP Army", recently launched a series of online initiatives. Their goal is to have the asset put back up for sale on exchanges that had removed the token following Ripple's legal fight with the SEC.
Community members from around the world have joined the call on different social media platforms to put pressure on cryptocurrency trading platforms to bring XRP back.
These initiatives come as the SEC holds Ripple and its executives accountable for a securities infringement; the commission said in an official statement through its legal team at a hearing of the lawsuit.
The turmoil prompted the XRP army to restrict cryptocurrency exchanges to relist the digital asset. XRP enthusiasts argue that the ongoing court case should not affect digital asset trading.
Without any reasonable doubt, the SEC vs Ripple lawsuit has greatly affected the blockchain network. The lawsuit saw XRP lose its market valuation and go down the charts. However, Ripple still appears to have several strategic moves to revive its system.
In addition to losing its market valuation, the network also lost one of its main trading partners; MoneyGram. The American money transfer company has had to end its partnership with Ripple, but still hopes to reconnect in the future when there is more stable ground.
When it's listed again, XRP could take a big leap forward
CEO Brad Garlinghouse recently said court proceedings did not affect trade deals with his Asian business partners. Ripple shareholders in Asia such as SBI Holdings have remained supportive despite the tough times the company is going through.
The system continued to carry out promising projects despite the court case. Indeed, they appear to be working hard to improve and launch a new structure and establish a solid foundation in cross-border payment solutions.
There has been growing interest from several banks wishing to use Ripple's ledger to facilitate central bank digital currencies, also known as CBDCs.
These banks believe that the Ripple network plays a vital role in changing the dynamics of cross-border payments.
For this reason, analysts think that by the time XRP is listed again on the main cryptocurrency exchanges, there will be a rush to buy that will lead the digital token to take a huge step forward. And you would be willing to invest back to XRP? Let us know in the comments below!