Rob Cunningham, host of the Kuwl Show, argues that XRP’s functionality remains resilient despite financial pressures, drawing parallels between its value proposition and enduring principles like truth and mathematics.
Cunningham asserts that even significant financial efforts cannot undermine XRP’s intrinsic utility. He recently stated that a staggering expenditure of $1 trillion would not diminish or invalidate XRP’s value proposition. He likened XRP’s distinct advantages to immutable principles such as truth, law, and mathematics, which endure regardless of financial influences.
Cunningham elaborated on how XRP significantly reduces global payment friction, fraud, fees, and foreign exchange costs. Additionally, its rapid settlement times of 3-5 seconds address inefficiencies in nostro/vostro accounts.
According to Cunningham, these features underscore XRP’s potential to revolutionize the global financial system, suggesting that external resistance will have limited impact on its utility.
Regarding long-term value, Cunningham emphasizes that no other financial system or digital asset can rival the utility offered by XRP. He predicts that as the market recognizes its protocol and technology, XRP’s price will reflect its true value.
Currently, XRP is trading at $0.4311, marking a 0.33% decrease over the past day amid widespread bearish market pressures. The broader market sell-off has further pushed down XRP’s price by 10% over the past week, as reported by Crypto News Flash.
Cunningham’s insights highlight the increasing recognition of XRP as a transformative force in global finance. Financial institutions such as Ripple utilize XRP to facilitate instantaneous, low-cost transactions for global firms. Institutions like JPMorgan acknowledge XRP and Ripple’s potential to unlock the $120 billion trapped in traditional cross-border payments.
Given XRP’s substantial role in the global payment market, commentators foresee a significant price increase. Conservative estimates place XRP’s future value between $5 and $10, with some more optimistic projections reaching as high as $10,000.
The impending $2 billion penalty imposed by the Securities and Exchange Commission (SEC) on Ripple Labs Inc. remains a focal point amid ongoing legal proceedings, according to Crypto News Flash. The SEC recently responded to Ripple’s Notice of Supplemental Authority, refuting Ripple’s comparison to a favorable ruling involving Binance. Defense lawyer James Filan reported that the SEC filed its response following Ripple’s submission arguing against strict liability violations. Ripple cited a court decision favoring Binance where the SEC’s claims regarding Binance Coin (BNB) as securities were dismissed.
Ripple argues that this ruling could impact the application of the Howey Test in their case involving XRP, potentially influencing the court’s determination regarding penalties, including the proposed $2 billion fine.