The closure of the Ripple vs SEC lawsuit that saw the firm ordered to pay $125 million in civil penalty has significantly freed XRP from bearish sentiments.
The recent breach of the Supreme Court’s YouTube Channel highlights a growing trend where cybercriminals are taking advantage of social media accounts belonging to individuals, businesses, and organizations to promote fraudulent cryptocurrencies.
XRP has shown strong performance by maintaining critical support levels around $0.51 and rebounding to $0.58.
The closure of the SEC vs Ripple lawsuit has been a major turning point for the XRP mainstream adoption.
The cryptocurrency’s near-term outlook remains cautious, with potential for further declines if current trends continue.
The recent launch of Grayscale’s XRP Trust has added to the positive sentiment surrounding XRP.
Ripple is pushing to pay the monetary portion to the US SEC and free the XRP market from the legal constraints caused by the lawsuit over the years.
The SEC and Ripple have agreed to keep 111% of the judgment amount in a bank account under the care of a law firm.
The end of the SEC case against Ripple has given the blockchain payment company the needed space to build the XRPL network in preparation for mainstream adoption.
Ripple expands its global blockchain footprint through strategic partnerships in Japan and Korea, enhancing the XRPL ecosystem and promoting academic research in the field.
The blockchain payment firm’s current focus is on ensuring that RLUSD launches successfully and without problems.
Fruition Production also revealed that Ripple CEO Brad Garlinghouse declined to participate in the documentary. However, the studio managed to secure an interview with Ripple Chief Technology Officer David Schwartz.
Ripple began putting effort into the development of RLUSD, which is pegged at 1:1 with the United States dollar, at the beginning of this year.
According to Alderoty, the SEC has just a measly 10% chance of winning the appeal. That is, if the regulator truly goes through with it.
Bitnomial plans to launch margin-based, physically settled XRP/USD futures contracts, fueling speculation about a future spot XRP ETF.