XRP (XRP) – A few days ago, the District Court of California made a decision that would see the case against ripple and its founders moved to federal court. This creates an opportunity for all the cases against ripple to be consolidated into a single case. So is this really a reason to smile for XRP (XRP) investors, or is just another day in the corridors of justice?
Well, while the cases against ripple will still go on, being handled at the federal level means that the decisions made at that level will be the benchmark for other cases related to ripple or any other crypto assets in the future. As such, it could cut on possible cases against ripple, and hasten the move towards a decision on its status.
Since a prolonged state of limbo is in itself bad for the price of XRP (XRP), it then follows that the possibility of a faster decision time can help stabilize the price. Things may get volatile as the day for such a decision comes nearer, but once it comes, it will give a true direction for XRP since any other cases coming after that decision will be ruled on the precedence of the first case.
The court decision can also be considered a first step towards ripple’s win because when handled at the federal level, interested parties of diverse nationalities and corporates status can be involved in the case. In the ripple case, taking a more international perspective to the case could be an edge for ripple. That’s because though the people suing ripple are American, XRP (XRP) has a usage that is way beyond the United States.
It is an asset that has investors all across the world, investors who are not invested in XRP (XRP) because of ripple, but because of the utility of XRP (XRP) as a cryptocurrency. This aspect to the whole issue could give ripple an edge in these cases, and possibly minimize the risks of XRP being a security.
Either way, investors can only wait and hope, though it is now clear that things could move a little faster. Besides, at the moment it is not just XRP (XRP) whose prices are depressed. Even with the court cases hanging around XRP, all other cryptos are also down with Bitcoin dominance rising above 50%. But this drop also means that the rebound will be higher than has happened in the recent past, especially with the increased technical advances of most altcoins.
An XRP (XRP) rebound would even be bigger if altcoins start picking up at the same time, when a decision is made on the status of XRP, and that decision comes out positive. It’s one of the few cryptos that have gained a huge adoption both in the banking industry, as well as a base currency for exchanges. It’s only a few weeks ago that DCEX, a reputable crypto exchange, announced that it would be using XRP (XRP) as a base currency.