In a groundbreaking agreement between Terraform Labs and the US SEC, shockwaves reverberated through the Ripple community just before the pending case verdict.
Ripple remains steadfast in its XRPL development strategy outside the US, aiming for widespread adoption of XRP.
The legal clash between the SEC and Ripple Labs, a prominent blockchain payment firm, concerning the sale of XRP for operational funding, has sparked diverse viewpoints. The absence of clear regulations from the US Congress has allowed the agency to interpret outdated laws in light of emerging technology.
Nevertheless, the recent endorsement of spot Ethereum exchange-traded funds (ETFs) in the US and Hong Kong signals a potential for clearer regulations in the altcoin sector. Ripple’s CEO, Brad Garlinghouse, is optimistic about the future approval of spot ETFs for Solana, Dogecoin, and XRP in the US.
The Ripple vs SEC lawsuit nears its conclusion, with Judge Sarah Netburn moving it to the trial phase. The recent settlement between the SEC, Terraform Labs, and Do Kwon has provided the Ripple community with valuable insights. The SEC agreed to a $4.47 billion settlement, with an additional fine for Kwon to aid in bankruptcy settlement plans.
Ripple’s Chief Legal Officer, Stuart Alderoty, criticized the SEC’s focus on headlines rather than sound policy. Ripple continues to resist the SEC’s attempts to reveal its financial records related to XRP sales over the past two years.
Despite legal challenges in the US, Ripple forges ahead with global expansion. The collaboration with Acharx and the acquisition of Standard Custody demonstrate Ripple’s commitment to advancing its products and services worldwide. The introduction of an EVM-compatible sidechain for XRPL and the upcoming stablecoin, Rippe USD (RLUSD), highlight Ripple’s innovative approach.
In the midst of a crypto market correction, XRP’s price struggles to reclaim the 50-week Moving Average (MA) as support. A further decline could see XRP targeting a support level around 31 cents, while a rebound may propel the price towards its all-time high. Currently trading at around 48 cents, XRP has experienced an 8% drop in the past week.
For further information on Ripple and XRP, consider exploring our recommended resources, including a guide on buying Ripple (XRP), a tutorial on Ripple XRP wallets, and the latest XRP price trends. Stay informed with the latest news and updates on Ripple (XRP) to make informed investment decisions.