Ripple faces a two-headed dragon: a legal battle with the SEC and a stagnant XRP price. But amidst the fire, Ripple’s president, Monica Long, is forging a path forward.
A recent court ruling declared XRP not a security, allowing Ripple to expand its ecosystem. This decision has focused Ripple on improving payment systems using the XRP Ledger and developing custody solutions with partners like Metaco.
Long is now outlining exciting plans for the future of Ripple and XRP. Will these plans be enough to reignite investor confidence? Read on to find out.
Monica Long addresses the introduction of RLUSD, Ripple’s stablecoin designed to complement, not compete with, XRP. RLUSD aims to support growth in DeFi and institutional adoption. Ripple’s acquisition of Standard Custody strengthens RLUSD by managing its reserve.
Moreover, Ripple has been actively involved in tokenizing real-world assets (RWAs) on the XRP Ledger in collaboration with Archax. This initiative has garnered attention from major financial institutions like BlackRock and JPMorgan, indicating growing confidence in Ripple’s technology among Wall Street giants.
Moving on, Monica Long has also expressed her optimism about the potential for an XRP ETF, highlighting the regulatory clarity that both XRP and Bitcoin enjoy in the US. This regulatory certainty positions XRP favorably for broader institutional adoption, contrasting with ongoing legal tensions with the SEC over past issues.
Ripple’s Chief Legal Officer, Stuart Alderoty, criticizes the SEC’s handling of the case, especially its demand for $2 billion in fines. The upcoming verdict on penalties from Judge Torres in July will significantly influence Ripple and XRP’s future.
XRP Price Impact
Despite strategic efforts, XRP’s market performance remains subdued, trading around $0.473 with low volumes and declining investor interest. Recent market downturns, including Bitcoin’s 7.45% drop, have further affected XRP, which declined by 6.3% in the same period, currently priced at $0.4762 with a slight daily increase of 0.11%. Year-to-date, XRP has fallen by 23.1%, reflecting overall negative market sentiment exacerbated by legal uncertainties.
As Ripple awaits the outcome of its legal battle, uncertainties loom over its future. However, Monica Long remains confident, indicating that Ripple has plans in place to restore investor confidence amid regulatory challenges.
Read Also: Altcoin Recovery: Identifying Trend-Breakers For Massive Gains
With the judge’s verdict looming, is XRP on the cusp of a major comeback, or headed for a fall?
The Solana network has faced significant competition from other L1 chains but an impending crypto…
The historical supply shock hitting the Bitcoin market has signaled to an ultimate parabolic rally…
The high correlation between Bitcoin and tech stocks has classified the crypto as risk-on assets…
The competition for the best cryptocurrency presale heats up, with two projects grabbing attention: Nexchain…
The Fragmented Blockchain Landscape Is Holding Web3 Back Crypto is no longer just about Bitcoin…
Dogecoin (DOGE), the popular meme cryptocurrency, is trading at $0.218, reflecting its robust community driven…
