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# XRP: What to Expect in 2024
XRP, the native cryptocurrency of the Ripple network, has had a turbulent year in 2023, facing legal challenges, regulatory uncertainty, and market volatility. However, some analysts and investors are optimistic about its prospects in 2024, citing several factors that could boost its value and adoption. Here are some of the main reasons why XRP could have a breakthrough year in 2024.
A Possible Settlement with the SEC
One of the biggest hurdles for XRP in 2023 was the ongoing lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple, the company behind the XRP Ledger and the Ripple payment platform. The SEC alleged that Ripple and its executives sold unregistered securities in the form of XRP tokens, violating federal securities laws. Ripple denied the allegations and argued that XRP is not a security, but a digital asset that facilitates cross-border payments.
The lawsuit has had a significant impact on XRP's price, liquidity, and reputation, as many crypto exchanges and platforms delisted or suspended XRP trading in the U.S. market. However, Ripple has also scored some legal victories in 2023, such as gaining access to the SEC's internal documents on how it classified other cryptocurrencies and having some of the SEC's claims dismissed by the judge.
Many observers believe that the case is heading towards a settlement in 2024, as both parties have expressed their willingness to resolve the dispute. A settlement could clear the regulatory cloud over XRP and restore its access to the U.S. market, which is one of the largest and most influential in the crypto space. A settlement could also set a precedent for how other cryptocurrencies are regulated in the U.S., potentially benefiting the whole industry.
A Potential IPO for Ripple
Another factor that could boost XRP's value and adoption in 2024 is a possible initial public offering (IPO) for Ripple, the company behind the XRP Ledger and the Ripple payment platform. Ripple's CEO, Brad Garlinghouse, has hinted at the possibility of going public after the SEC lawsuit is resolved, saying that Ripple is "on the right side of history" and that he is "very confident" about the future of the company.
An IPO for Ripple could be a major milestone for the crypto industry, as it would be one of the first and largest public listings of a crypto-related company. An IPO could also increase Ripple's visibility, credibility, and valuation, as well as attract more institutional and retail investors to its products and services. Moreover, an IPO could benefit XRP holders, as Ripple owns a large portion of the total XRP supply and has pledged to use its profits to support the XRP ecosystem.
A Growing Demand for Cross-Border Payments
A third factor that could drive XRP's growth in 2024 is a growing demand for fast, cheap, and secure cross-border payments, especially in emerging markets and developing countries. XRP is designed to facilitate cross-border payments by acting as a bridge currency between different fiat currencies and cryptocurrencies, reducing the cost, time, and friction involved in the process.
XRP has already been adopted by hundreds of financial institutions, payment providers, and remittance companies around the world, such as MoneyGram, Santander, and SBI Holdings, to power their cross-border payment solutions. XRP has also been involved in several projects related to central bank digital currencies (CBDCs), such as the Digital Pound Foundation in the UK and the Mojaloop Foundation in Africa, to enable interoperability and inclusion in the digital economy.
As the global demand for cross-border payments increases, XRP could see more adoption and usage, as well as more innovation and development, in the coming year. XRP could also benefit from the network effects and the positive feedback loop that come with a larger and more diverse user base.
Conclusion
XRP is one of the oldest and most established cryptocurrencies in the market, with a unique value proposition and a loyal community. However, it has also faced many challenges and uncertainties in 2023, mainly due to the SEC lawsuit and the regulatory environment. In 2024, XRP could have a chance to overcome these obstacles and achieve new heights, as it could benefit from a possible settlement with the SEC, a potential IPO for Ripple, and a growing demand for cross-border payments. XRP could also surprise the market with new developments and innovations, as it has done in the past.
RIpple 2023 Value Report
Read the trends in Crypto and whats new for Ripple and CRP
Big Picture: Overall, Latin America (LATAM) is more bullish on enterprise and institutional use of crypto for business followed by the Middle East and North Africa (MENA), then North America (NA), Asia Pacific (APAC) and Europe, Middle East and
Africa (EMEA)
Tokenized Assets
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Portfolios, Payments & Capita: Ease of use is far and away the most important
requirement for organizations to enable customers to pay with crypto.
Conceptualizing trends in Crypto
Fractional ownership of real estate via NFTs is driving greater financial inclusion by making property ownership and equity stakes more affordable and accessible for more people.
Tokenization of real-world
assets (or RWAs) as one of the most important, enduring use cases for tokenization. It appears that finance leaders at both financial institutions and enterprises hold similar sentiment.
Decentralized Identity (DiD)* can be foundational building block to this future by further enhancing compliance capabilities, and providing a secure, decentralized way for individuals and institutions to verify their identities and ownership of assets.
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