- Pro-XRP supporter Brett Hill said XRP is the “ultimate game-changer” for executing large transactions.
- Another prominent figure in the XRP community said banks now favor XRP due to its cheap and fast transactions.
- Data from CoinMarketCap show that XRP has added a 2.75% gain after an altcoin overnight rally.
Brett Hill, an ardent U.K.-based XRP supporter, in a post on X, showcased his unwavering belief in XRP as a game changer in financial transactions. Hill, a long-time XRP advocate, posted that XRP is the “ultimate game-changer” for carrying out large transactions “quickly and efficiently.”
Hill’s post came in reaction to another post by another prominent figure in the XRP community, which stated that XRP is now a favorite among banks. According to the post, this is due to how efficient it is to send large transactions – billions worth – using XRP.
Unlike traditional systems, cryptocurrencies offer faster transaction delivery. Furthermore, the post said that by using XRP, banks get to save 60% of transaction costs.
XRP, the native token of the popular blockchain network Ripple, has seen increased interest following a partial victory against the SEC in July. However, the SEC’s move to appeal the decision has since affected the token’s performance.
The lawsuit, which lasted nearly three years, bothered on the securities status of XRP. The SEC contended that XRP was an unregistered security, and its sale thus qualified as an investment contract. Ripple, on the other hand, claims otherwise.
Meanwhile, Ripple claims the prolonged lawsuit with the SEC affected the adoption of the token in the U.S. Similarly, the company also said the lawsuit made it lose out on important partnerships within the country.
Elsewhere, XRP was one of the tokens that led the altcoin overnight rally, according to data from CoinMarketCap. At the present time, the token is changing hands at $0.4948 apiece, a 2.75% in the past 24 hours.