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Pro-XRP Lawyer Urges Elon Musk to Integrate XRP into X Payments

2024/08/08 16:35

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Fred Rispoli, a lawyer known for his support of Ripple, has urged Elon Musk to integrate XRP into the X Payments platform following Ripple's recent legal victory against the U.S. Securities and Exchange Commission (SEC). Rispoli's call comes after a favourable ruling in the Ripple vs SEC lawsuit, where Judge Analisa Torres reduced the penalty against Ripple from $2 billion to $125 million and excluded disgorgements.

Rispoli’s Appeal to Musk

In a recent post on X, Rispoli encouraged Musk to incorporate XRP into X Payments, stating, “Elon Musk, you have a golden opportunity right now to legally say eff you to SEC after its loss today to Ripple.” He suggested that Musk could have Ripple’s native cryptocurrency evaluated for integration through X’s legal team, implying that such a move could be beneficial.

Impact of the Ripple Lawsuit Ruling

The court's decision has been a significant win for Ripple, causing XRP’s value to surge by approximately 18% to $0.6064. The market reaction reflects increased optimism following the ruling, which notably did not include the $2 billion penalty initially proposed.

Market Response and Future Outlook

The positive news has led to a substantial increase in XRP’s trading activity. Data from Coinglass shows a 47.40% rise in XRP’s futures open interest and a dramatic 474.34% increase in derivatives volume. This surge, combined with the recent price upswing, indicates a potential uptrend for XRP in the market.

Elon Musk’s Potential Involvement

Rispoli’s suggestion that Musk could use the legal victory as a reason to integrate XRP into X Payments has generated considerable interest. However, as of now, Elon Musk has not publicly responded to the call. The integration of XRP into X Payments could further influence market sentiment and the cryptocurrency’s value.

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