- Clive Thompson, a prominent wealth manager, expresses confidence in Ripple’s future, positioning it alongside giants like Amazon, Google, and Apple in terms of potential impact and value.
- Thompson’s optimism comes on the heels of a recent partial legal victory for Ripple against the U.S. SEC, where Judge Analisa Torres ruled that XRP is not a security.
Regulatory Hurdles: A Stepping Stone for Ripple’s Ambitions?
In a recent live-streamed interview with Black Swan Capitalist founders Versan and Vandell Aljarrah, Clive Thompson, a well-known wealth manager, articulated an exceptionally bullish view of Ripple and its native cryptocurrency, XRP. The insights come at a pivotal moment as Ripple recently secured a partial legal victory against the U.S. Securities and Exchange Commission (SEC).
📈 📊 Renowned Wealth Manager Clive Thompson is convinced that XRP will succeed.
"I'm very much hoping that Ripple Labs with it's token XRP becomes big like Amazon or Google…and too big for the SEC to have a fight with.."
— Ingrid 🇨🇵 🇺🇲 👁️🗨️ (@IBcroc) August 31, 2023
Understanding the SEC’s Complex Role in Crypto Governance
For the uninitiated, the SEC serves as the regulatory authority governing securities in the United States. The ongoing legal battle with Ripple focuses on whether XRP should be classified as a security. A ruling in July by Judge Analisa Torres asserted that XRP doesn’t fit the criteria to be categorized as such, delivering a partial win for Ripple. Nevertheless, the case remains unresolved as the SEC filed an interlocutory appeal in response.
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Thompson interprets the intricacies of this legal scenario as a double-edged sword. On one hand, the vagueness surrounding regulatory frameworks presents challenges for the broader cryptocurrency ecosystem. On the other, he maintains that this ambiguity inadvertently provides a canvas for disruptive technology like Ripple to illustrate its potential.
Ripple’s Prospects: Comparable to Tech Juggernauts?
Extending this line of thought, Thompson draws parallels between Ripple‘s potential growth trajectory and the monumental success achieved by technology mammoths like Amazon, Google, and Apple. He postulates that Ripple could become so entrenched and indispensable that any attempts by the SEC to curtail its operations would be futile.
The wealth manager’s optimistic view aligns with Versan’s comments during the interview, stating that the most plausible regulatory outcome would be a balance between
“preserving integrity and allowing disruptive technology to thrive.”
Thompson lends credence to Judge Torres’s ruling and exhibits confidence that Ripple will overcome the SEC’s ongoing appeal. His vision paints Ripple not as a mere participant in the financial technology arena but as a cornerstone that could stand shoulder-to-shoulder with some of the world’s most impactful tech companies.
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