Cryptocurrency analyst and influencer Ben Armstrong reveals that he has finally jumped onto the XRP bandwagon.
In a new video, Armstrong told 780,000 YouTube subscribers that he believes XRP has become a beacon that retailers can use to rally against the establishment.
“If we look at what happened with Wall Street Bets and Dogecoin (DOGE), it was a financial protest. What we see now with XRP is actually a protest from the SEC (the US Securities and Exchange Commission), which is a protest against the status quo.”
In December last year, the Securities and Exchange Commission (SEC) formally filed a lawsuit against the San Francisco-based startup, alleging that XRP was an unregistered security company at its launch and remains a security to this day. Ripple’s legal battle with the SEC has intensified over the past few weeks, but now, Armstrong says, the payments startup is starting to take hold.
“I think I’m starting to see a path to Ripple’s victory…
Now, the Ripple law team has been given access to see some internal memos of what the SEC has been saying about XRP for years. I think that’s really big because in the end, we can see Ripple win…what we see is the judge in this lawsuit, she doesn’t have any BA from the SEC. I think this is too huge.
The SEC came out and said, “Sorry. Ripple is the one on trial, not us. But that’s not what we’re seeing right now. In fact, the SEC is on trial here. They have the burden of proof to show that Ripple made a mistake. “.
Armstrong also offers his own view on XRP, saying that he believes Ripple’s original asset is nothing but a security.
XRP is a token. [It] She is proprietary. Cryptocurrency is a property. It is not a representation of the stake. You literally own it.”
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Featured image: Shutterstock/Martin Capek