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- Ripple’s victory against the SEC could help financial institutions and banks use its XRP settlement solutions.
- Furthermore, there could be faster adoption of Ripple’s CBDC solution along with the integration of the automated Market Makers (AMMs) into the XRP Ledger.
Ripple’s victory against the U.S. Securities and Exchange Commission (SEC) has been a milestone event for the entire crypto industry as it could change the landscape of America’s crypto industry forever. Several analysts and other players have called Ripple’s victory a game-changer.
Some market analysts have started predicting a bright future for Ripple considering the fact that XRP is no more a security. Crypto market analyst @neiljduncan shares a few predictions as to what can happen ahead with XRP and its usage.
Don’t think 👩🏽⚖️ Judge Torres’ $XRP ruling was the BIG news… It was just an initial impetus for the announcements we’ll be seeing.😍 Since $XRP is not a security, here’s what I think we can expect to see in the months ahead:
1) $XRP added to Ripple’s Liquidity Hub. 🌊 🙌🏼
1/6 pic.twitter.com/TLAwTlFItb
— Neil.XRP {X} (@neiljduncan) July 19, 2023
The first thing is that XRP makes its way to Ripple’s Liquidity Hub. Thus, Ripple will be able to offer its on-demand liquidity (ODL) solution to more and more clients thereby facilitating instant cross-border settlements.
Ripple’s general counsel Stuart Alderoty recently said that American banks would soon start using Ripple’s ODL solution. “I think we’re hopeful that this decision would give financial institution customers or potential customers comfort to at least come in and start having the conversation about what problems they are experiencing in their business,” he said.
Ripple uses its special technology in the form of XRP Ledger to help banks talk to each other more easily. It offers a different way compared to the usual systems like Swift. They use a digital currency called XRP to make transfers between different types of money faster and more efficient. This helps to avoid problems like needing to put money into accounts in advance or experiencing delays in transferring money.
Ripple for CBDCs, AMMs, XRPL NFTs, and Much More
Earlier this year, Ripple launched its own CBDC platform allowing central banks to launch their CBDCs quickly and effectively in the market. With this solution, Ripple specifically seeks to target small and medium countries thereby offering them the technology stack to match up with the pace of CBDC development.
The Ripple CBDC platform is like a new and improved version of the XRP ledger that was created a couple of years ago. With this platform, people can use the same blockchain technology as the XRPL to control and handle all aspects of fiat-based CBDC transactions and how they are distributed.
On the other hand, Automated Market Makers (AMMs) will be integrated into the XRPL once proposal XLS-30d is approved. This will enable everyone to earn a yield on their XRP at the Layer-1 level, encouraging more activity on the ledger. Additionally, with $FXRP on Flare, a decentralized yield for $XRP will be made possible.
Neil Duncan further explains that he;
Expect to see headways into XRPL NFTs…land deeds, real estate, carbon credits, digital assets, tokenization, and more. Look for deeper collaboration with play-to-earn gaming, metaverse, A.I., and other ecosystem developments we haven’t dreamed of yet.
