Ripple CEO reveals Ripple’s next plan of action in case the company loses the lawsuit
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Answer Ripple CEO reveals Ripple’s next plan of action in case the company loses the lawsuit
Many crypto enthusiasts are optimistic that the SEC’s lawsuit against Ripple will end in the latter’s favour.
However, there is no guarantee for these claims, as it is possible that the ruling will conflict with Ripple and cause a further collapse of the XRP price.
Ripple CEO stated: Ripple is acting as if it is already a loser
in an interview Recently, Ripple CEO Brad Garlinghouse was asked how Ripple would respond if the outcome of the lawsuit was not in its favour, especially now that Bloomberg litigation analysts believe the SEC will win.Read:FC Barcelona enters the world of crypto through the portal of the Chiliz project
In response to the question, Garlinghouse indicated that he does not believe that much will change because Ripple is already acting as if it lost the lawsuit with the Securities and Exchange Commission, where he stated about this by saying:
Unfortunately, Ripple is already operating in a world that we seem to have lost.
The charges against Ripple and two of its executives have led several cryptocurrency exchanges and related companies to stop supporting the digital currency XRP.
These companies fear that they could be criticized with securities fees if they do not stop providing XRP services.
In the same interview, Garlinghouse stated:
In the US, XRP has all intents and purposes, and there is no liquidity.
It has been discontinued and frozen on most US based trading platforms.
Ripple and serving more customers outside the USA:
An SEC victory would mean that XRP will not be traded within the US, which means that Ripple will have to operate in countries where XRP is not considered safe.
According to Garlinghouse, the fact that XRP is not traded on US trading platforms has not prevented Ripple from achieving a record year and if the outcome of the lawsuit is not in the company’s favour, it will continue to outperform despite all circumstances.Read:What is the true cost of maintaining the security of the blockchain network?
Ripple set a record last year.
We have continued to grow very rapidly across our major product groups.
So the first quarter was a record for us.
Now, unfortunately, almost all of this growth comes from outside the USA.
Additionally, according to Garlinghouse, 95% of Ripple’s customers are outside the US, so the company will continue to stay relevant.Read:What is the “Aber” digital currency? And what is the way to use it between Saudi Arabia and the Emirates?
The same speaker added:
Unfortunately, almost all of this growth comes from outside the United States.
We employ more and more people outside the US, but our client base is now around 95% of non-US payment companies.
Although the loss of Ripple will lead to huge losses in the price of XRP, the value of the cryptocurrency will continue to rise as more payment companies take advantage of the company’s technology to facilitate cross-border payments.
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