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Ripple Made Major Moves in Week, Community Thinks Big Storm Might Be Incoming

Sat, 05/20/2023 - 13:06
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Tomiwabold Olajide
Week saw Ripple's major steps about to trigger huge change
Ripple Made Major Moves in Week, Community Thinks Big Storm Might Be Incoming
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This week, Ripple saw a slew of positive developments, which has led several to believe that "big news" might be in the offing.

An XRP community member notes the slew of positive news and developments that occurred just days after Judge Torres ruled on the Hinman emails.

He lists these: the Metaco $250 million acquisition, the CBDC platform announcement, the Hong Kong CBDC pilot and an ex-Amazon CFO joining the team. He also noted that earlier this month, Ripple announced its Dubai expansion and was ranked as the leading CBDC vendor against 15 competitors.

A vocal XRP community member, Mr. Huber, is excited at the slew of positive news barely 72 hours after Judge Torres ruled on Hinman's emails. He says he is looking forward to the upcoming week as a result.

Reacting to a Twitter post, XRP enthusiast and crypto lawyer Bill Morgan believes that a storm might be brewing with the slew of positive advancements Ripple has seen this week.

Here's throwback

On May 16, Judge Torres denied the SEC's motion to seal the Hinman documents. On May 17, Ripple announced it was taking on the crypto custody market with the $250 million acquisition of Swiss-based Metaco.

On May 18, Ripple unveiled its enhanced central bank digital currency (CBDC) platform, with four countries primed to utilize this innovation from Ripple.

On May 19, Ripple announced that Warren Jenson, a former Amazon executive, would be joining its board and serving as the chair of the audit committee.

In the same week, Ripple stated that it had been selected to showcase a real estate asset tokenization solution as part of the Hong Kong Monetary Authority's (HKMA) inaugural e-HKD Pilot Program. Ripple also secured two awards at the just-concluded 2023 Digital Currency Awards.

In the Ripple SEC lawsuit, parties have filed a joint letter for a one-week extension, until June 13, 2023, to file public, unredacted versions of cross-motions for summary judgment and accompanying exhibits, which include the Hinman materials.

CryptoLaw founder John Deaton thinks that the SEC's request for the time extension might be based on the fact that there are so many documents that must be carefully redacted to satisfy Judge Torres ruling.

He stated this while addressing speculation that the time extension might be due to new settlement discussions, which he says might not be the case.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.