Anyone Who Wants Ripple to Fail Is Against Crypto!

Cryptocurrency analyst Miles Deutscher commented on Twitter on the legal dispute between Ripple and the United States Securities and Exchange Commission, which Ripple boss Brad Garlinghouse expects to be settled in early 2023. Deutscher believes that even if one does not like XRP, it is important to be on the side of the San Francisco-based crypto giant in this legal battle. Deutscher explained that he does not like XRP very much.

However, he supports Ripple in the legal dispute between the two parties. He clearly believes that Ripple is the cornerstone of the entire cryptocurrency space. If Ripple loses against the SEC, the analyst expects many negative consequences for the entire cryptocurrency industry. He ended his tweet by saying that to not support Ripple in this particular case is to be against cryptocurrencies in general.

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What is Ripple (XRP)?

Ripple is a platform that has its own digital currency. Unlike other platforms such as Bitcoin, it does not seek to eliminate financial intermediaries, but rather to decentralize financial transactions. Developers believe that the platform is designed and implemented for large transactions of banks and financial institutions so that transactions in the platform are completed in a short period. Needless to say, Ripple also has tough competitors in this area.

Swift and Stellar are among these competitors. That`s why this coin was not created on a blockchain platform. So far, Ripple has offered three products for financial institutions: current, rapid, xvia. These three products are referred to as RippleNet. XRP digital asset is only used on the X-Rapid network and has no application in other products. It should be noted that most companies under the Ripple contract use its current product.

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