Fortune magazine has published an article claiming that the success of Ripple and its cryptocurrency XRP is not dependent on the outcome of its ongoing legal battle with the US Securities and Exchange Commission (SEC).
The article, titled “Ripple and XRP may finally be for real,” was written by Fortune's Chief Editor Jeff John. It asserts that even if Ripple loses its case against SEC, it will still continue to succeed.
While many people believe that a favorable outcome in this court case would boost the value of XRP significantly, John believes otherwise. He argues that "the company's prospects depend much more on broader adoption of cryptocurrencies than on any regulatory ruling."
Furthermore, John points out that despite facing several setbacks in recent years due to legal battles with regulators, Ripple has continued to grow its network. The platform currently boasts more than 300 financial institutions as customers worldwide.
As for XRP's price performance, John acknowledges that it has been lagging behind other major cryptocurrencies such as Bitcoin and Ethereum. However, he believes this is mainly due to investor sentiment rather than any fundamental issues with the currency itself.
In conclusion, John writes: "Whatever happens in court later this year...it seems likely now that we're going to hear a lot more about both Ripple and XRP going forward."
Despite ongoing uncertainty surrounding Ripple’s legal battle with SEC over whether or not its native token should be classified as a security or not; the future looks bright for both platforms irrespective of what direction events unfold in coming weeks/months/years ahead.