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- Hey Square fam! How many Alpha points have you racked up lately?
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- 🎉 The #CandyDrop Futures Challenge is live — join now to share a 6 BTC prize pool!
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Dare to trade. Dare to win.
Odaily Planet Daily News Flare co-founder and Flare Labs CEO Hugo Philion tweeted that he has always believed that after the lawsuit is over, XRP may suffer a sharp sell-off. This is because the main (but not the only) use case for XRP has been cross-border transactions, and the main force driving this market is still Ripple. Since late 2020, Ripple's ability to grow this market has been severely hampered by regulatory uncertainty. Now, Ripple has some definite news, but their work has been delayed by 2.5 years. Meanwhile, various stablecoin providers have come up with a viable high-friction alternative and have had considerable success in building this market.
Philion suspects that Ripple will have some success with cross-border payments in the future, especially in areas that are underserved by the traditional financial system. However, its progress may be slow as traditional finance grows skeptical of cryptocurrencies in the wake of the SBF and other absurd events. On the other hand, there are a lot of people working hard to develop new use cases for XRP and the XRP Ledger, but it will take time to see results.