- Ripple is progressing on multiple fronts, including a potential $125 million settlement with the SEC for institutional XRP sales, as the SEC appears unlikely to appeal the latest court ruling.
- Ripple’s launch of the RLUSD stablecoin aims to enhance security and regulatory compliance, attracting significant liquidity.
The Ripple ecosystem has been moving a lot faster in recent times while making progress on multiple fronts. However, the XRP price has been range bound trading in the $0.50-$0.60 range without showing any major moves to the latest developments.
The SEC is slowly coming to terms with the fact that it was wrong about XRP being a security. As per the latest Crypto News Flash report, the SEC will not appeal the latest court judgment of making the penalty payment. Thus, it’s likely to proceed with the $125 million settlement with Ripple paying the SEC for securities law violations for institutional XRP sales.
Last week, digital asset manager Grayscale launched the XRP Trust as some regulatory clarity emerges on the case, per the CNF report. This trust will provide institutional players with a regulated gateway to seek exposure to the Ripple cryptocurrency. Several market analysts also believe that the Grayscale XRP Trust would further translate into being an exchange-traded fund (ETF) for XRP, just as it happened in the case of Bitcoin Trust GBTC and Ethereum Trust ETHE.
Another major factor anticipated to drive the XRP price higher is the altcoin’s listing on Robinhood for European users. Robinhood’s large retail investor base could drive forward significant retail demand for the altcoin, thereby driving upward price pressure.
Ripple vs SEC Lawsuit Settlement, RLUSD Stablecoin Liquidity, Bank Partnerships and Much More
The Ripple vs. SEC lawsuit is almost coming to its settlement period, and the chances of appeal seem slim from here onwards. On the other hand, Ripple has been working on several other developmental fronts, one of which is the launch of the RLUSD stablecoin.
Ripple CTO David Schwartz explained that the new stablecoin is designed for users to acquire through crypto platforms and intermediaries. This approach aims to improve security and regulatory compliance, aligning with current stablecoin standards. Analysts believe this could attract significant liquidity, potentially setting XRP up for a bullish surge, reported Crypto News Flash.
On the other hand, Ripple has also been making several bank partnerships to expand its footprint in the global financial space. At the ongoing Point Zero Forum, Ripple led the discussion on the best ways to regulate the decentralized finance (DeFi) market in front of the world’s regulators, central banks, legislators, and policymakers, per the CNF report.
#XRP News:
● The SEC now admits it was wrong about XRP being a security.
● Grayscale is creating an XRP ETF
● RLUSD will boost liquidity
● SEC vs. Ripple case is resolved
● Ripple has major bank partnerships
● XRPL is the fastest and cheapest blockchain.
2025… pic.twitter.com/VaRHpCPzil
— RippleLord
(@Ripplelordz) September 17, 2024
As of press time, XRP is trading 4.19% up at $0.5919 with a market cap of $33.347 billion. CrediBULL Crypto highlighted that XRP is currently forming a large bullish pattern, specifically a symmetrical triangle, which historically signals a strong upward price movement.
The analyst emphasized that this pattern, which has been compressing for nearly seven years, is nearing its conclusion, suggesting that XRP could soon experience a significant price surge, per the CNF report.
