Ripple (XRP) is going to make people rich.
Ben Armstrong, a famous crypto trader with a Youtube following of 1.45M and a Twitter following of 795K, stated that Ripple’s XRP digital token would make holders rich.
“XRP will make people rich. That’s it. That’s the whole tweet.”
$XRP will make people rich. That's it. That's the whole tweet.
— Ben Armstrong (@Bitboy_Crypto) January 26, 2022
XRP has struggled after the lawsuit filed against Ripple by the US Securities and Exchange Commission. In late December 2020, Ripple top executives were accused of selling XRP, considered a security, to institutional clients.
Before the SEC suit, Ripple was the 3rd top crypto globally, just behind Bitcoin and Ethereum. Ripple was designed to transfer remittances across the borders in no time. Ripple was doing exceptionally well by partnering with top banks worldwide to move money fast. Before the lawsuit, there were possibilities and hope that XRP would cross ETH but the SEC lawsuit badly affected the token standing pushing him back to 7th place in the crypto ranking.
After the lawsuit, leading exchanges like Coinbase started to delist XRP along with the largest crypto asset manager, Grayscale Investments, which worsened the token.
The awkward situation disrupted the bullish rise in the price of XRP. The cryptocurrency eventually changed hands between 7th and 8th in the market ranking table.
Yet many people, including Ben Armstrong, believe that XRP enthusiasts will reap the rewards once Ripple emerges victorious.
According to Ripple CEO Brad Garlinghouse in a new interview with Protocol.com’s, the blockchain-based money transfer platform is currently in its recovery phase, and the outcomes will be positive:
“Despite these crazy hurdles with the SEC — and, frankly, losing some customers due to the SEC lawsuit — we have grown very quickly, and we feel like we are starting 2022 with a lot of strength,” Garlinghouse told the protocol.
Despite facing SEC, the Ripple team led by Brad Garlinghouse did not lose hope, did not bow in front of the SEC, and kept fighting. The lawsuit is still ongoing, but the Ripple community is strong and continues to support the cross-border payments firm as the case progresses.
Recently Fox Business journalist raised an interesting fact the SEC legal team declared Ripple (XRP) Non-Security in 2018 so what changed in 2 years?
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.