The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has led to a significant increase in the number of XRP holders, according to John Deaton, founder of CryptoLaw.US and a supporter of Ripple.
Deaton argues that the regulatory scrutiny has inadvertently served as a promotional campaign for Ripple and its digital asset.
With over 4 million XRP wallet addresses now in existence, Deaton suggests that many holders may still be unaware of Ripple’s role and the purpose of XRP.
In a separate tweet, Deaton highlighted the fast payment processing capabilities of XRP compared to Bitcoin. He noted that many individuals reported faster transaction times when using XRP, which subsequently encouraged them to invest in larger quantities of digital assets.
Deaton’s observation underscores the potential value proposition of XRP as a reliable and efficient means of conducting transactions.
However, not everyone is convinced that XRP’s future is bright. Prominent Bitcoin advocate Max Keiser has expressed skepticism about XRP’s survival, characterizing it as being too centralized to withstand the regulatory environment in which the SEC operates.
Keiser has previously been critical of Coinbase and other crypto exchanges, urging regulators to take action against them.
Mohammad Ali is a fintech and cryptocurrency writer who has been covering the intersection of finance and technology for several years. Ali has a deep understanding of the financial industry and the ways in which technology is changing it, with a special focus on the rise of digital currencies and blockchain technology.
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