David Gokhshtein, the founder of Gokhshtein Media, says that cryptocurrencies like XRP “make ever more value today” when one takes a broad, macro view of the market.
Gokhshtein claims that he was not commenting on the price of XRP or any other cryptocurrency, but rather on current events, given that most cryptocurrencies have disappointed so far this year.
As early symptoms of contagion emerge, the collapse of FTX is having the greatest effect on the cryptocurrency market.
Following the FTX collapse, Genesis Global, an institutional crypto lender said yesterday that it will “temporarily cease new loan originations in the lending sector.” The crypto exchange Gemini has also blocked Earn program withdrawals.
In the midst of the current turmoil, Ripple has announced its growth. With the help of MFS Africa, a digital payment gateway, Ripple officially launched this week in the African market. With this new agreement, MFS Africa will be able to use Ripple’s On-Demand Liquidity (ODL) platform for crypto-enabled transactions, making it easier for consumers and companies in Africa to transmit real-time payments using their mobile phones across borders.
Additionally, Ripple revealed the extension of ODL into approximately 40 payout markets globally or roughly 90% of the FX market.
In the continuing dispute, the court has authorized 14 amicus briefs in Favour of Ripple, with the majority having already been filed.
According to U.Today, Gohkshtein predicted that after Ripple wins its appeal against the SEC, XRP and other genuine platforms would skyrocket and that the whole sector will see a rapid rise.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.