U.Today - The protracted legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) might be taking a back seat in the priorities of XRP holders.
Such a take has been by Panos Mekras, co-founder and CFO at Anodos, who suggests that the broader ecosystem associated with Ripple and XRP is gaining more traction.
The focus is apparently shifting from Ripple's legal challenges to the technological progress and innovations within the XRP Ledger (XRPL) ecosystem.
Beyond legal woes
Mekras has opined that the outcome of Ripple's SEC lawsuit is becoming less relevant for XRP holders.According to Mekras, has already been cleared of the allegations of being a security, and the XRPL ecosystem is advancing with numerous projects and developments.
Highlighting key initiatives like the Automated Market Maker (AMM), the Xahau project with Evernode, the Ethereum Virtual Machine (EVM) sidechain, and a plethora of innovative applications on XRPL, Mekras points out these are the true drivers of excitement and growth for XRP enthusiasts.
Ripple's legal outlook and predictions for 2024
Ripple's legal victories in 2023, including the relisting of XRP on major exchanges, marked a year of significant growth and resilience for the company.As , Stuart Alderoty, Ripple's chief legal officer, has offered his forecasts for the cryptocurrency sector in 2024.
He predicts a conclusion to the SEC's lawsuit against Ripple but warns of ongoing regulatory challenges.
Alderoty foresees the judiciary playing a crucial role in moderating the SEC's approach and hints at a potential Supreme Court involvement in future crypto regulatory disputes.