In the latest news, according to the Wall Street Journal, former Ripple board member and former U.S. Treasury Department official Michael S. Barr has been appointed as the director of the U.S. Office of the Comptroller of the Currency (OCC). Affected by the good news, XRP quickly rose to break through $0.3 in a short period of time.

Ill-fated, XRP struggles to move forward

Previously, on December 22, 2020, the US SEC decided to file a federal court lawsuit against the token XRP issuer Ripple. The SEC believed that the XRP issued by Ripple was a security. After that, some asset management companies and encrypted exchanges began to clean up XRP assets or transactions, and Coinbase considered delisting XRP.

On January 14, Grayscale Investment announced on its official website that, according to the US Securities and Exchange Commission (SEC)’s litigation supervision on XRP as a security, Grayscale Investment decided to start liquidating and disbanding its XRP trust—Grayscale XRP Trust .

Under the multiple pressures of the delisting of the exchange, the suspension of sales by Grayscale, and the bearish market sentiment, the market value of XRP also dropped from the third place in 2013 to the fifth place in 2021. In the face of Ripple's plight, former Ripple co-founder Mc Caleb is still selling.

Influenced by foreign countries, ushered in a turning point

The largest XRP community is in Japan, and Japan’s Financial Services Agency (FSA) recently stated that XRP is not a security, but a cryptocurrency; many XRP supporters are optimistic about the SEC’s allegations. At present, XRP has also reached a settlement with the SEC, and it is reported that Trump pardoned Ripple board member Ken Kurson.

According to several American media reports, Ripple is actively looking for application scenarios for XRP, and it is likely to assist central banks in issuing digital currencies. And Ripple is indeed currently hiring a “central bank technology partner manager” position, planning to have one in each of its offices in San Francisco, New York, and London. And Ripple is indeed currently hiring a “central bank technology partner manager” position, planning to have one in each of its offices in San Francisco, New York, and London.

We cannot deny that XRP is the leader in the payment field. If it really cuts off and shakes its position, there is currently no alternative project, which may cause a certain degree of panic in the market. Therefore, the current good news of XRP may be accumulating strength for the next step.

How the market will go in the future is unknown

Raoul Pal, a former Goldman Sachs executive and founder of Real Vision, said that he is very interested in XRP and has a basic understanding of it, but does not hold XRP. Pal said traders should exercise a calm and independent judgment on investment opportunities and always analyze whether the market is undervaluing the potential of a particular asset. Additionally, macro traders often have a unique view of the market, Pal said, urging crypto enthusiasts to keep an open mind about what it takes to bring new money into the space. Earlier news, Raoul Pal said that Real Vision has invested 10% of its cash in Bitcoin.

The following may be a game between the U.S. government and institutions. Obviously, large institutions represented by Grayscale have abandoned XRP, but the U.S. authorities have chosen former Ripple personnel to hold important positions. This may be related to previous speculation. Let's wait and see what our answer is!