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- XRP has been successfully classified as a non-security in the US following Ripple’s court victories against the Securities and Exchange Commission.
- Alderotti stresses the US need for better cryptocurrency regulation, pointing to progress made in other countries.
- After the victory, the price of XRP rose with various predictions of the future value; ChatGPT indicates potential factors for a future bull market.
The United States needs a “rational regulatory framework”
Stuart Alderotti – Ripple’s legal director – recently gave His two cents on the court victories the Blockchain Foundation obtained in its legal battle against the US Securities and Exchange Commission (SEC) and the benefits it brought to XRP.
According to him, Historic win As of mid-July, the asset is given “clarity in the US” and is now uniquely classified as unsafe in the world’s largest economy.
Recall that a federal judge ruled that Ripple’s sales of XRP years ago did not constitute an offer for investment contracts. The last of which is the judges It was rejected The SEC wants to appeal the decision, giving the cryptocurrency company another victory at its expense.
Alderotti stressed that the US authorities still need to implement comprehensive rules on the local cryptocurrency industry despite Ripple’s partial victory. He pointed to progress in this field in regions such as Singapore, Japan, Dubai and Brazil, expressing his regret that America has not yet recognized the potential of this sector:
“In the United States, unfortunately, we’ve lost our way, we’ve lost our way because politics and power trump sound policy, which means we have certain agencies fighting over who’s going to take control from a technology regulatory perspective rather than meeting the right political outcome.
Is XRP ready to rise?
The spike in coin prices shortly after Ripple’s court win gave investors hope that another surge could be on the horizon. Many analysts made predictions in the previous months Imagine XRP will rise to new all-time highs, like $10, $27, $43, or even a ridiculous $500 in the following years.
Some modest expectations Put The asset trades for more than $1 if it overcomes some crucial resistance signs.
we too Requested ChatGPT Whether the next XRP rally could happen next year. The AI-powered language model claimed that this could actually happen if various factors, such as the outcome of Ripple’s trial versus the SEC’s trial, regulatory developments, and favorable macroeconomic conditions, were on paper.
Those wondering how high XRP is (according to ChatGPT) can take a look at the dedicated video below:
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