XRP News: Ripple Faces Risk Of Another SEC Lawsuit

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As a seasoned crypto investor with over a decade of experience in this dynamic industry, I find myself closely following the latest developments in the Ripple-SEC lawsuit saga. My journey through the cryptosphere has taught me to remain cautiously optimistic, always keeping an open mind and anticipating unexpected twists and turns.

News about XRP: The unveiling of Ripple‘s website for their RLUSD stablecoin has sparked discussions within the XRP community regarding the possible resolution of the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). Some believe this action might mean that Ripple is about to wrap up its legal disputes with the SEC. Nevertheless, notable figures in the crypto world urge caution, hinting that another lawsuit could be imminent.

Ripple To Face Another SEC Lawsuit?

In response to a crypto influencer inquiring about the role of RLUSD amidst the ongoing Ripple-SEC lawsuit, lawyer Fred Rispoli shared his thoughts. A strong advocate for XRP, Rispoli recently discussed the possible consequences following the launch of the RLUSD website. He expressed, “Any problems the SEC may have with RLUSD are unrelated to this case and cannot be linked to one that is about to conclude!”

As someone who has been closely following the digital currency market for several years now, I can’t help but feel a sense of anticipation and caution when it comes to Ripple’s new stablecoin venture. Despite the ongoing lawsuit, which may be nearing its conclusion, the possibility of fresh scrutiny looms large over the blockchain firm. The fact that Ripple’s President Monica Long previously hinted at a 2024 launch date for RLUSD and the creation of a dedicated website suggests that the company is in the final stages of preparation. With my experience in this field, I know all too well how quickly things can change and how regulatory bodies can be unpredictable. While I’m excited to see what Ripple will bring to the table with its stablecoin, I also urge caution and patience as we wait to see how this story unfolds.

As a researcher following the developments, I’m keeping a keen eye on the unfolding story of RLUSD, the upcoming stablecoin from RLSU (Ripple Labs United States). The excitement surrounding its launch is palpable, particularly among XRP enthusiasts who are eagerly awaiting this event. They see it as a potential sign that the drawn-out Ripple vs SEC lawsuit may be nearing its end.

If a pro-cryptocurrency administration comes to power following the November elections, there’s a possibility that the blockchain company could avoid another lawsuit due to Donald Trump’s confirmed pro-crypto stance and former SEC attorney Marc Fagel’s belief that a change in approach towards the crypto industry might occur if a pro-crypto candidate wins.

Remedies Ruling Timeline

More recently, Sean McBride, former Ripple director, added to the buzz by expressing on Twitter his belief that Judge Torres might rule on the case in August. This tweet has sparked interest among XRP enthusiasts and the wider crypto community at large. McBride implied a roughly equal likelihood (50/50) of this ruling happening in August.

As a researcher, I’d like to add my thoughts on the discussion: A user pointed out that Ripple CEO Brad Garlinghouse had earlier forecasted a resolution by the end of summer. Subsequently, another user suggested that if there is an extension in the ruling, it seems probable that Judge Torres will deliver her verdict by the end of September.

Contrary to rumors, legal experts, including pro-XRP lawyer Bill Morgan and ex-SEC attorney Marc Fagel, have cast doubt on the prospect of a settlement between Ripple and the Securities and Exchange Commission.

As an analyst, I’d rephrase Morgan’s statements as follows: I find it improbable that a settlement will materialize soon. If a resolution does emerge, it would likely be more of a concession than a triumphant win for Ripple. Furthermore, it’s important to note that Ripple may still encounter substantial hurdles concerning XRP sales beyond December 2020 and any future transactions involving the token.

XRP News: 1 Billion Token Unlock

The ongoing XRP court case is generating diverse perspectives among legal professionals and XRP advocates. Representatives from Ripple, such as Brad Garlinghouse, have made remarks that stir anticipation regarding a possible resolution.

As a crypto investor, I’m buoyed by Ripple’s assured stance in their Q2 2024 XRP market report. They express faith in a balanced verdict, suggesting they are optimistic that the central ruling classifying XRP as a non-security will persist, irrespective of any potential changes.

The Securities and Exchange Commission (SEC) has proposed a penalty of around $1 billion (without considering interest) against the crypto company due to alleged infractions. However, Ripple has signaled its readiness to negotiate a settlement for no more than $10 million. This large disparity in figures implies that coming to an agreement could prove difficult.

Based on recent updates about XRP, it’s been reported that 1 billion XRP, which is equivalent to around $579.43 million, has been unlocked. This event triggered an 8% drop in the XRP price, causing it to break through the psychologically significant $0.6 support level. This downward movement has stirred up discussions about a possible settlement in the ongoing Ripple-SEC lawsuit. Many people see this action as a potential method for covering any penalties and reaching an agreement.

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2024-08-05 11:12