- Ripple has received shockwaves from the settlement between Terraform Labs and the US SEC, even before the verdict.
- Ripple continues to develop its XRPL outside the United States, ensuring mass adoption of XRP in advance.
Different opinions have continued to be expressed about the legal dispute between the United States Securities and Exchange Commission and Ripple, a leading blockchain-based payment service provider, regarding the sale of XRP in order to fund the company’s operations. In the absence of clear legislation from the US Congress, Ripple Labs has been empowered to apply decades-old law to the emerging technology.
But the approval of Ethereum ETFs in Hong Kong and the United States has increased the likelihood of clear regulations being implemented for the altcoin market. Brad Garlinghouse of Ripple believes that the United States will soon approve other exchange-traded funds (ETFs) based on Solana Dogecoin and XRP.
Ripple v. SEC Case Nears its End
You can also read about the advantages of using Crypto News Flash previously reportedWhen presiding judge Sarah Netburn issued a newly scheduled order that focused on remedies sought and final judgment, Ripple’s vs SEC had already entered the trial phase.
Ripple’s community has gained a new perspective after the recent settlement reached between Terraform Labs and the US SEC, as well as the former CEO Do Kwon. The US SEC has agreed to a settlement worth $4.47billion, and imposed a fine of $204m on Kwon to help with the restructuring plans.
Stuart Alderoty is Ripple’s Chief Legal officer. He believes that the US SEC was chasing headlines and not good policy. Ripple, meanwhile, is fighting to have its credibility sealed by the court. financial Documents in a US SEC motion to discover XRP Sales in the last two years.
XRPL development is unstoppable
Ripple has not been deterred by the legal challenges in the United States from expanding their products and services globally. Ripple announced earlier on Thursday, 13 June 2024 that Acharx, a UK regulated exchange of digital assets, had extended their collaborative effort, which was originally initiated by Metaco, to improve the adoption RWA of XRPL.
We are very excited to be a part of this collaboration with @Ripple You can also find out more about the following: @ArchaxEx – financial In the near future, I anticipate that institutions will increasingly tokenize their RWAs in layer 1s such as XRPL by using regulated companies like Archax. https://t.co/79K8INZrWH
— Brad Garlinghouse (@bgarlinghouse) June 13, 2024
Ripple has acquired Standard Custody as a complement to Metaco in the United States. Ripple has already released an EVM-compatible version of its development platform. sidechain XRPL enhances DeFi development.
Ripple announced its upcoming Rippe USD stablecoin (RLUSD), backed by US dollars on the XRPL network and Ethereum.
The Next Step for XRP Prices
The XRP Price has attempted to hold the support of the weekly 50 Moving Average in the face of an ongoing crypto-correction that saw Bitcoin drop to below $68k. If XRP continues to fall from its current price, it will target a support of 31 cents.
The XRP will reach its highest level in future quarters if the price of XRP rises from this current low. The price of altcoins has fallen Eight percent Trade around in the previous week The 48-cent coin On Thursday,
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Source: www.crypto-news-flash.com