Rumors of Ripple’s decline are not only premature, they are baseless, according to Ashley Prosper, a highly regarded member of the XRP community. In a post on TwitterProsper argued that Ripple, far from collapsing under the weight of the U.S. Securities and Exchange Commission (SEC) lawsuit, is showing strength and resilience.
Prosper’s insightful thread highlights a series of promising developments involving Ripple. Whether anticipating the conclusion of the SEC case in the near future, celebrating the upcoming release of relevant documents by William Hinman, the former director of the SEC’s Division of Corporation Finance, or appreciate the recent acquisition of Metaco. She also mentioned a quirky coincidence: an upcoming Disney feature that features characters named Ember Lumen and Brook Ripple.
Surfing the Waves of Crypto: Ripple’s Recent Achievements
Signs of Ripple’s resilience and continued trading activity are everywhere. They recently launched a central bank digital currency (CBDC) platform and bolstered their on-demand liquidity (ODL) service through the partnership between Ripple’s ODL partner, Tranglo, and Al Ansari Exchange, the largest outbound personal funds transfer to the United Arab Emirates.
There was also a curious incident where Google Assistant indicated that the XRP price would not be available after June 13. This was seen as a further clue to the impending resolution of the lawsuit. Notably, Ripple has been praised by the Nasdaq, which has boosted company morale amid 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, which is part of the company’s scheduled monthly distribution strategy, sees unused tokens returned to the escrow account after distribution. The tokens are mainly used to meet the needs of Ripple’s ODL clients.
Historical data shows that while previous releases in April and March initially caused XRP to decline in value, the asset quickly rebounded within two weeks. At the time of this report, XRP was trading at $0.5066 on Binance, according to data from TradingView.