The founder and CEO of Sound Alive Records Eric Finnerud, known as E. Smitty, has recently revealed he believes that the $XRP token will be adopted by the “entire world” as it’s a cryptocurrency with fast settlement times and low transaction fees.
In a tweet the music producer shared with his over 170,000 followers on the microblogging platform, E. Smitty said that he uses $XRP every day as a currency to pay artists royalties in the token, while also accepting $XRP payments for mixing, mastering, producing, and marketing.
The music producer is notably a well-known $XRP bull that has been supporting the cryptocurrency and numerous others over the last few months. On occasion, E. Smitty has offered free tokens to his followers on social media in various giveaways.
Notalby several analysts have been turning bullish on the cryptocurrency over the last few weeks. As CryptoGlobe reported a widely-followed cryptocurrency analyst has doubled down on his $XRP price prediction made at a time in which both Ripple and the U.S. Securities and Exchange Commission (SEC) are looking for a ruling in their long-running legal battle through a so-called summary judgment.
The price of XRP surged earlier this month after both Ripple and the SEC requested a summary judgment. The SEC sued Ripple and two of its executives in 2020, alleging they sold unregistered securities when they issued $1.3 billion worth of XRP tokens. Ripple denies XRP is a security.
Ripple settling the lawsuit could lead to an XRP supply shock, which presumably would lead to a price surge as demand would remain the same, while supply plunged. That’s according to legal expert and XRP supporter Jeremy Hogan, who has been following the case.
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