The DeRec Alliance now has Ripple and XRPL Labs as founding members, as they develop a protocol for easy asset recovery.
The SEC says Ripple’s intention to issue a stablecoin, an unregistered asset, is further proof that it will continue to break the law.
The SEC’s lawsuit has influenced the trajectory of XRP price. The ongoing legal saga prevented a sustained rally and kept XRP on a downward trend from its 2021 peak of nearly $2.
With talks with investors continuing and Ripple valued at an astounding $11 billion, expectations for the company’s future IPO plans are growing.
Ripple has allegedly moved all US ODL customers from using XRP as the bridge currency, to USDT, in compliance with a 2023 court ruling.
A breakout from the tight upper Bollinger Bands at $0.69 could signal a bullish run for XRP.
Ripple has urged the court to impose a civil penalty of less than $10 million in the lawsuit filed by the US SEC and not the proposed $2 billion by the agency.
While she no longer works with the Commission, Stewart’s insights reflect very deep connections to the SEC’s stance, its strategies, and what it hopes to achieve with the crypto industry.
Steingraber stated that while the price of XRP is currently determined by supply and demand on exchanges, traditional finance institutions such as Bank of America are restricted from using the asset due to regulatory requirements
The latest argument centers on the accusation that the exchange discriminated against institutional investors during the sale of XRP through its On-Demand Liquidity (ODL) platform.
Considering Ripple’s position and reputation in the crypto ecosystem, the new stablecoin is likely to be a tough rival for USDT and USDC.
The recent increase in XRP tokens on Coreum has sparked different reactions among the XRP community. Some users think this might cause a shortage of XRP, pushing its price higher.
According to Schwartz, obtaining XRP from Ripple could have tax consequences. He emphasized individuals might have to sell their XRP shares to pay their taxes.
The SEC has filed the motion of remedies for the final judgement in the XRP case. Analyst say that Ripple’s decision of selling XRP at discount to big institutions could hurt the XRP price.
Despite the challenges, Ripple’s commitment to its core values has remained unwavering. The company’s dedication to simplifying international payments for everyone has been a driving force behind its success.