The moment everyone has been waiting for is here: the XRP lawsuit is reaching its grand finale, a big milestone for Ripple and the entire cryptocurrency community. Alongside this, several exciting developments are on the way, including potential new stablecoins and discussions about an ETF. Plus, Ripple’s upcoming Swell event in a few weeks is expected to announce new tokenization projects that could shake things up in the market.
Analyst Zach Rector has been critical of SEC Chair Gary Gensler and several of the commission’s decisions, expressing skepticism about the future impact of testimonies over the next two days. However, on the flip side, the SEC achieved a victory in a separate case involving ConsenSys, where a Texas judge dismissed the lawsuit, ruling that ConsenSys didn’t have a strong enough case. This marks another win for the SEC amidst ongoing legal challenges.
Looking ahead, important milestones are approaching fast for Ripple and XRP. Rector said that the appeal window for the SEC vs. Ripple lawsuit is set to close around October 6th or 7th. If no appeal is filed, this high-profile case will finally come to an end.
Meanwhile, Ripple is expected to launch its stablecoin, RLUSD, in the coming weeks, potentially coinciding with the Ripple Swell conference on October 14-15. Additionally, the crypto community is speculating about the possibility of an XRP ETF announcement during the event, especially with Grayscale’s interest in offering investors exposure to the XRP protocol, which has real-world use cases.
Rector also opened up about potential tokenization announcements at the Ripple Swell conference, which will feature speakers from major institutions, including Northern Trust and Archax. These discussions could pave the way for new partnerships and large-scale tokenization projects, with projections of up to $50 trillion in assets being tokenized on the XRP Ledger in the future.
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