There are a few things that have managed to grab the attention of most investors in the cryptocurrency market. Since it managed to make its way into the mainstream, most investors have not been able to see the rest of the financial market the same way. In fact, the industry was able to singlehandedly change how they treat most types of investments.
With both traditional forms of finance and cryptocurrencies currently butting heads, this confrontation came ahead when the SEC called XRP to court over proceedings that would eventually go over the past few years.
And as the proceedings have continued, people have become much less supportive of the SEC, as they see XRP as the clear underdog in this situation. Furthermore, the SEC was also responsible for enforcing various policies that negatively affected the crypto space, which even forced the market to struggle as a result.
However, despite XRP being the obvious underdog here, people have been very skeptical that XRP could make it out unscathed. And as more time went by following the proceedings, no one could definitively tell if XRP will pull through. Therefore, many skeptical investors will be surprised to hear that many lawyers believe that XRP will be winning the case.
Shooting Itself in the Foot
Groups of legal experts who are also familiar with cryptocurrencies looked at the case and have good reason to believe that XRP will pull through with the win. In fact, they take it one-step further to say that the agency has shot itself in the foot when it decided to take on XRP of all cryptocurrencies.
More specifically, the legal observers believe that the agency has continuously failed to prove that it even has a case against the cryptocurrency or if they can justify it in some way.
Support for the Crypto Community
For all of the flaws that the crypto market has, it does have a major benefit, and that is its community. More specifically, the crypto community is tightly knit and was quick to come to the rescue of a cryptocurrency when it was unreasonably pulled into question.
The community was quick to rush to the support of XRP, as many of them filed amicus briefs that would make their voices heard.
After Winning the Case
It goes without saying that ripple is well set to win the case. And if it finally wins this marathon of the case like many are already saying, then this could be a profound victory for the crypto market.
Many investors are pouring money into XRP as they are seeing the incredible potential it holds to grow. And when it grows to an incredible extent, investors will be able to reap the benefits.