In a recent Ask Me Anything (AMA) session, Raoul Pal, a macro guru and former Goldman Sachs executive, reiterated their stance on Ripple’s XRP even in the ongoing lawsuit against SEC.
The macro guru said that XRP, the native token of the XRP Ledger (XRPL), is a viable currency for cross-border payments.
Raoul Pal Is Bullish On XRP
Furthermore, Raoul Pal said that Ripple’s XRP has every ability to experience a massive bull run once the current lawsuit filed by the SEC ends in the favor of Ripple.
Raoul sounds very bullish on the XRP token, he said that the risk of XRP downsizing is too minimal should the case between the SEC and Ripple go otherwise for the lead blockchain company.
He further noted; “I’ve said this a gazillion times, XRP has a real use case. It is being used as a protocol… I think there’s a gap risk higher if they get the ruling. There’s no gap risk lower as much. There should be some speculation.
“But it’s being used and a chain that’s being used for money transmission is a chain that has Metcalfe’s Law. So I have no issue with it. I own a small part.”
“Retailer held back because of this stupid SEC regulation and ruling that we’re waiting for.”
Companies Files In Favor Of Ripple In The Current Lawsuit
The current case between Ripple and SEC has been initiated a long and it has been so terrific as the court have to allow the filing of a series of the amicus brief.
Notably, there are a lot of companies that have filed an amicus brief in favour of the lead blockchain firm. Companies like I-Remit, TapJet and some others recently filed in favour of Ripple.
The case started in 2020 when the US commission declared Ripple’s token an unregistered security and due to this, many trading platforms have to bring the token down from the platform to save them from being banned by the regulation.
As previously reported by Cryptolifedigital, Ripple’s General Counsel, Alderoty, has hit back at the New York Times report on Ripple, saying that Ripple was charged with offering “unregistered securities” by the SEC.
“A federal judge is expected to rule in the coming months in a lawsuit brought by the S.E.C. that charges the cryptocurrency issuer Ripple with offering unregistered securities,”
The above report has prompted the Alderoty to slam the SEC, saying that “To be clear, the SEC hasn’t labelled XRP a security, nor does it have the power to do so,”.