Ripple (XRP) rose above $0.5400 early Monday, gaining over 2% ahead of the eagerly awaited Ripple Swell 2024 conference in Miami, Florida. Running from today until October 16, this event is crucial for XRP holders who are looking for updates on Ripple’s latest developments, especially regarding the Ripple USD (RUSD) stablecoin and the company’s custody solutions.
The event, running from today to October 16, brings together key figures from both the crypto and traditional finance sectors. Ripple has showcased its readiness with a video highlighting the venue’s setup, featuring a sleek stage and lighting. CEO Brad Garlinghouse has welcomed guests as the conference officially kicks off today.
This year marks the 8th edition of Ripple Swell, where experts will discuss important topics such as stablecoins, tokenization, and cryptocurrency ETFs. Notable speakers include Garlinghouse, former FDIC Chair Sheila Bair, and Coinbase’s Chief Security Officer Philip Martin.
One of the most anticipated sessions will be a fireside chat featuring Ripple’s Chief Legal Officer, Stuart Alderoty, and NYDFS Superintendent Adrienne Harris, focusing on new regulatory trends.
XRP holders are eagerly awaiting updates, particularly on Ripple’s RLUSD stablecoin, which has been in private beta since August on Ethereum and XRPL. Though millions of RLUSD tokens have been minted, Ripple has yet to announce an official launch date for the stablecoin. Whether this information will be revealed at Ripple Swell remains uncertain, but hopes are high for significant announcements during the event.
The conference is expected to pave the way for new partnerships and innovations, potentially boosting XRP adoption.
XRP holders are also looking forward to news about the launch of the RUSD stablecoin, new digital asset custody partnerships, and Ripple executives’ responses to the SEC’s recent appeal in their ongoing lawsuit. Ripple has countered the SEC’s appeal, with its Chief Legal Officer and CEO criticizing the regulator’s approach to cryptocurrency.
From a technical standpoint, XRP has been trending upward since July 2024, aiming to reach $0.60. However, it faces resistance between $0.5778 and $0.5445. If a correction occurs, support may be found at $0.5188 or $0.5068. Notably, the court has ruled that XRP is a security for institutional transactions but not for retail sales.
With a lot at stake this year is crucial for XRP to gain the lost investor faith. Do you agree?
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