Ripple and XRP Investors Accompanying with Diffrent Ulterior Motive
블록스트리트 등록 2023-03-21 15:10 수정 2023-03-21 15:10
Litigation with the U.S. Securities and Exchange Commission (SEC) is not the top priority of Ripple's business, and Ripple puts more emphasis on Ripple's business expanding worldwide."
Ripple's executives visited South Korea last week to hold a policy summit.
Brooks Entwistle, a senior vice president of global customer success of Ripple, and Rahul Advani, a general manager of Asia-Pacific policy of Ripple, visited in Korean and had a meeting with reporters at the Royal Chamber Hall of the Chosun Palace Hotel in Gangnam, Seoul on the 15th.
In Korea, which has many XRP holders, most of the questions raised by reporters toward Ripple's executives were related to the lawsuit against SEC.
With hopes that the lengthy lawsuit against SEC would come to an end anyway, there was only one question investors ultimately had for Ripple. Reporters asked questions on behalf of investors.
There were many investors in Korea who loved Ripple, and this was the important question for those who did not let Ripple go despite the long lawsuit.
"Can Ripple get the victory by winning the lawsuit against SEC?
# S. Korean Investor Falls in Love with Ripple, Fascinated by Grand Vision
Along with magnificent modifiers such as 'SWIFT 2.0', 'Reorganization of the World Bank System', and 'World Key Currency', Ripple once attracted investors with the vision presented by Ripple.
"The international remittance system will be revamped through Ripple's unique money transfer network, which is why Ripple is expanding its networking with banks around the world."
Investors were fascinated by this vision, which led Ripple to once rank third in crptocurrency market capitalization.
Ripple's popularity was especially great in Korea.
In late 2017 and early 2018, when the cryptocurrency craze broke out, Ripple accounted for the second largest number of Korean cryptocurrency contents produced on the Internet portal after Bitcoin (BTC). The contents were said in unison. Ripple is something that will change the international remittance paradigm and can make a big profit to investors.
So many Korean investors bought XRP and the community was filled with 'certifications' that actually made big profits.
As Ripple claimed, XRP seemed to have a grand vision and give the investors who loved Ripple the successful result of investment.
# Meeting the Wall, Begining the Love-Hate Relationship
In December 2020, the SEC filed a lawsuit against Ripple for violating the securities law, starting to cross the road between Ripple and XRP investors.
XRP's price plummeted and investors were frustrated by lawsuits with U.S. regulators. Some investors sold XRP in disappointment with XRP's plunging price.
What is interesting is that the SEC lawsuit revealed the true feelings of Ripple and XRP investors.
Ripple's goal was clear. According to their vision, they want to reorganize the global remittance system through cooperation with global financial institutions.
The objective of XRP investors was also clear. It was to make a big profit through the XRP that they invested and achieve the myth of investment success that they each wanted. In the process, Ripple's grand vision seemed to fulfill investors' dreams at any moment.
When different goals and dreams met obstacles, the beautiful companion turned into a love-hate or somewhat uncomfortable companion.
During the seemingly endless litigation period, XRP investors shouted 'long-term investment' and waited for 'the day' with a desperate attitude. And every day, they looked up News on XRP and felt anxious.
In the meantime, new trends such as 'DeFi' and 'NFT' have emerged in the cryptocurrency market, and new tokens that put it forward have soared in price.
However, XRP's price only briefly rose, and the day that XRP investors expected did not finally appear.
The main purpose of investors who chose cryptocurrency as a means of investment was high volatility due to the trend of 'crypto'.
Whether the price soared or fell, cryptocurrency investors fell into dramatic adventure and were often fascinated by the radical outcomes they received.
However, XRP's price over the past few years was somewhat different from the 'cryptocurrency' that investors expected.
For this reason, such words used to circulate among investors.
"XRP's price is so constant that XRP is the key currency."
# "Same Bed Different Dreams" Between Ripple and XRP Investors
Meanwhile, Ripple'sexecutives, who visited Korea, said, "Ripple's vast vision and business around the world are more important than the lawsuit."
In fact, Ripple's vision seems to be succeeding worldwide, as Ripple's executives have revealed.
The list of a galaxy of global financial institutions, which belongs to Ripple's banking network alliance, 'RippleNet', and the new updated list every month are evidence of that.
Ripple's remittance payment network 'ODL' is showing a scary expansion in Southeast Asia, Latin America, and the Middle East, and as Ripple emphasized, it is showing a active usage rate in international remittances and real-life payments.
However, apart from Ripple's expansion, XRP's price, which always seems to remain in place, has been giving cryptocurrency investors only indifferent and harsh answers for years.
Therefore, investors' main interest was the result of a lawsuit with the SEC that pressed the price of XRP.
In response, Ripple's answers were, "The judge eventually makes the ruling on the lawsuit," and "Ripple's main business is not a lawsuit, but Ripple's business around the world."
Ripple has always emphasized the establishment of networking with banks around the world, thereby restructuring the international remittance system. This vision is vast, magnificent and enough to make investors' hearts flutter.
However, in other words, Ripple's business model, which seeks cooperation with global financial institutions, is a long-term business that takes as long as it is vast.
It may be different what nvestors who were fascinated by the high volatility and jumped into cryptocurrency investment expected.
Although the lawsuit with the SEC has fallen into a mystery, Ripple's business is continuously expanding, Ripple and Korean cryptocurrency investors are accompanying each other in the different dream and vision.
권승원 기자 ksw@