Ripple’s cryptocurrency payment platform is eyeing a significant triumph, with reports suggesting that U.S. banks are preparing to employ its native cryptocurrency, XRP, for international payments. This development comes amid Ripple’s ongoing expansion and growth in diverse regions and sectors.

Crypto aficionado Ben Armstrong announced in a recent YouTube video that XRP could soon be adapted by the U.S for international payments – a prospect he regards as a substantial impetus for XRP’s price potential. Ripple’s goal since its inception has been to streamline cross-border payments using blockchain and cryptocurrency technology. The possible incorporation of XRP into the U.S. banking framework has the potential to alleviate challenges in the global financial arena, augmenting transaction speed, cost, and efficacy through crypto technology.

Uncertainty runs rampant in the current climate of U.S. cryptocurrency regulation, primarily as several cryptos have been designated securities by the U.S. Securities and Exchange Commission (SEC). This has set off ripples of concern among the crypto community. XRP was caught in the regulatory crossfire when the SEC filed a lawsuit against Ripple in 2020, alleging it had conducted unregistered securities offerings via XRP sales.

Ripple’s legal tussle with the SEC is still underway, but the clouds of regulatory uncertainty seem to be dispersing. A partial win against the SEC, when Judge Analisa determined in 2023 that XRP sales were not avenues of security, has buoyed Ripple. The verdict has led to XRP’s reinstatement on various cryptocurrency exchanges and placed it on a trajectory to leverage Ripple’s likely penetration into new, burgeoning markets.

Ripple’s CEO, Brad Garlinghouse, recently shed light on the evolving regulatory landscape in an interview with Fox Business. He suggested that Gary Gensler, Chairman of the US SEC, was grappling with crypto regulations due to legislative overreach. He also hinted at a rift between Gensler’s personal agenda and public interest, and expressed frustration over the U.S.’s slow crypto industry endorsement. According to Garlinghouse, the judicial process was encroaching on speedy regulatory clarity for cryptocurrencies.