In a welcome turn of events, Ripple, the firm behind the digital currency XRP, plans to reignite its relationship with the U.S. market, following a favorable court ruling stating that XRP is not a security under U.S. law.
This announcement was made by Ripple President Monica Long in a recent interview with CNBC, where she shared her excitement about the regulatory clarity provided by the ruling, allowing the company to resume its operations in the U.S.
This follows weeks of ambiguity post-judgement, which the company has navigated successfully. Long commented, “We’re very happy about it because we now have clarity how Ripple will operate its business going forward. And we are re-engaging with the U.S. market.”
Global Expansion and Growing Presence
While its return to the U.S. market is significant, Ripple has not limited its growth to domestic borders. The fintech firm has seen substantial expansion in international markets, primarily in areas with clear regulatory guidance. Ripple has been flourishing in regions like the UK, Europe, Singapore, and Dubai.
Long added, “A lot of our growth over the years has been outside the U.S. That’s where we see a lot of growth potential for our business around payments.” The company’s expansion in the UK, Singapore, Dubai, and Sao Paulo stands as a testament to their diverse customer base and global reach.
Ripple’s Achievements and Future Prospects
Adding to their accomplishments, Ripple recently found its place in CNBC’s inaugural list of the world’s top 200 fintech companies. This recognition came after an evaluation of over 1,500 firms, where independent research firm Statista analyzed key performance indicators like revenue, user numbers, and total funding raised.
Joining the ranks of industry heavyweights such as Ant Group, Tencent, PayPal, Stripe, Klarna, and Revolut, Ripple’s entry in the list reinforces its impact and effectiveness in the fintech industry. “We’re one of only a handful of crypto companies honored – a feat we don’t take lightly,” Long shared on Twitter.
Looking Forward: XRP’s Potential Surge
As Ripple continues its triumphant return to the U.S. market and expands its global presence, the question arises: could these developments lead to a rise in the value of XRP, potentially pushing it to $3?
Currently standing at $0.6821, the digital currency XRP may benefit from Ripple’s growth and success. This could indeed serve as a launching pad for XRP, especially as Ripple continues to solidify its footprint in the global fintech arena.
The future certainly seems bright for Ripple and, by extension, XRP. However, only time will tell the full extent of this potential surge.