Reports: Ripple Moves Toward Adoption in the SEC Lawsuit - Bitxcon
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Reports: Ripple Moves Toward Adoption in the SEC Lawsuit
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Reports: Ripple Moves Toward Adoption in the SEC Lawsuit

According to reports, Ripple technology has been adoption by many people due to the stability of Ripple token prices

The United States Securities and Exchange Commission (SEC), has been examining Ripple’s situation since 2020. It concerns the sale of Unregistered, XRP securities. The Ripple firm denied all allegations made by the SEC and proved that Ripple operates under fair use. The SEC agency continues to collect witnesses that can support all of the Ripple allegations.

These scrutiny issues can be very difficult for Ripple to deal with. Ripple, a crypto- and blockchain company, is inclined towards crypto initiatives. However, the firm isn’t slowing down in terms of blockchain adoption despite scrutiny concerns.

The XRP wallet users have seen an 11x increase in usage since the peak. Particularly, the ledger saw 11.3 thousand users per day at the peak of 142.7 thousand. Ripple’s address users reached an all-time high recently.

Crypto Eri, a well-known crypto analyst, shared his views on Ripple’s resource surge. He also added:

“New development being encouraged and nurtured through the RippleX section of the Rippleteam”

Eri also referred to the Ripple ODL service, which is currently active in 20 countries. And stated that Ripple’s use case can be seen from many angles.

The client’s ODL usage of Ripple has increased by approximately 130% in the past quarter. We can probably conclude that Ripple’s new initiative to offer “crypto liquidity” using its flagship assets to enable other businesses to offer crypto trading services is driving Ripple to adopt crypto and Ripple’s crypto ecosystem.

According to the analyst, social sentiments about Ripple were also positive. Ripple received more sympathy from the crypto-market in the Ripple Vs SEC lawsuit. Also, almost everyone wanted Ripple to win the case against SEC.

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