Rumors of Ripple’s decline are not just premature, they’re unfounded, according to Ashley Prosper, a highly regarded member of the XRP community. In a post on Twitter, Prosper argued that Ripple, far from collapsing under the weight of the lawsuit by the US Securities and Exchange Commission (SEC), is exhibiting vigor and resilience.
Prosper’s insightful thread highlights a series of promising developments involving Ripple. From anticipating the conclusion of the SEC case in the near future, celebrating the upcoming release of pertinent documents by William Hinman, the SEC’s former Director of the Division of Corporation Finance, to appreciating the recent acquisition of Metaco. She also mentioned a quirky coincidence: an upcoming Disney feature that introduces characters named Ember Lumen and Brook Ripple.
Riding the Crypto Waves: Ripple’s Recent Accomplishments
Signs of Ripple’s resilience and continued business activity are everywhere. They have recently launched a Central Bank Digital Currency (CBDC) platform and have had their On-Demand Liquidity (ODL) service strengthened through the partnership between Ripple’s ODL partner Tranglo and Al Ansari Exchange, the largest outward personal remittance in the UAE.
There was also a curious incident where Google Assistant indicated the XRP price would be unavailable after June 13th. This was seen as a further hint of the impending resolution of the lawsuit. Notably, Ripple was congratulated by Nasdaq, which boosted the company’s morale amidst the ongoing legal battle.
Ripple’s Escrow Activity: Business as Usual
Adding fuel to Prosper’s argument, Ripple’s recent unlocking of 1 billion XRP tokens from escrow was business as usual. This action, part of the company’s scheduled monthly distribution strategy, sees the unused tokens returned to the escrow account after their distribution. The tokens are primarily used to meet the needs of Ripple’s ODL clients.
Historical data shows that while previous unlocks in April and March initially led to a decrease in the value of XRP, the asset quickly rebounded within two weeks. At the time of this report, XRP was trading at $0.5066 on Binance, according to TradingView data.