Ripple's New Strategy For Banking, Can XRP Price Dongkrak?

XRP crypto assets. (Photo; Doc. Quote Inspector)

JAKARTA - blockchain-based cross-border payment company Ripple recently announced its ambitious plans for banking. This is in line with the whitepaper released on August 30. On the other hand, Ripple's feud with the SEC also has the potential to be won if the SEC does not file an appeal in October.

In an effort to perpetuate its plans, Ripple aims to bring its technology to small banks with several important points, including:

- Implementation of real-time gross completion systems (RTGS) and blockchain technology for faster and more efficient payments.

- Reduce costs and business fees by eliminating the role of intermediary.

- Offer special solutions that are tailored to the needs of small banks using products xRapid and xCurrent from Ripple.

- Utilizing XRP through Liquidity According to Request (ODL) to facilitate real-time cross-border payments.

This initiative aims to help small banks compete with major banks. Ripple has started the implementation of this project by establishing partnerships with banks in Southeast Asia and the Middle East.

XRP Holder Optimism

In addition to the new banking strategy, Ripple also received good news from the results of a lawsuit with the United States Securities and Exchange Commission (SEC). After the final decision on August 7, both the SEC and Ripple had 60 days to file an appeal. If the SEC does not file an appeal until October 7, this case will be closed.

The leading lawyer, Bill Morgan, believes that the decisions in the SEC vs. Ripple and SEC vs. Kraken lawsuits show that the court will not consider crypto assets a security. According to Morgan, the SEC's chances of filing an appeal are very small.

"SEC must be careful to maintain this difference. If they argue that individual tokens in Kraken are investment contracts or securities, these arguments will not be accepted," Morgan said in an X post.

With a new banking strategy and a lawsuit that is considered profitable, Ripple is in a strong position in boosting the price of XRP higher. If this plan is successful, XRP has the potential to experience a significant spike in the near future.