Donald Trump

Billion Token

XRP News: Ripple’s launch of the RLUSD stablecoin website has reignited speculation within the XRP community about the potential end of the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). Some see this move as a sign that Ripple is nearing the conclusion of its legal battles with the SEC. However, prominent voices in the crypto space suggest caution, indicating that a new lawsuit might be on the horizon. 
<h2 id="ripple-to-face-another-sec-lawsuit">Ripple To Face Another SEC Lawsuit?</h2> 
When a crypto influencer questioned the impact of the <a href="https://coingape.com/ripple-launches-website-for-rlusd-stablecoin/" target="_blank" rel="noopener">RLUSD</a> in the ongoing Ripple SEC lawsuit, lawyer Fred Rispoli offered his take. Rispoli, a staunch XRP supporter, recently commented on the potential implications of the RLUSD website going live. He stated, “Any issues the SEC has with $RLUSD is for another lawsuit and cannot be bootstrapped to one that is about to end!” 
This remark underscores the possibility that even if the current lawsuit concludes, Ripple could face fresh scrutiny over its new stablecoin venture. Earlier, the blockchain firm’s President Monica Long had previously indicated a 2024 launch date for RLUSD. Moreover, the creation of a dedicated website suggests that the company is in the final stages of preparation. 
Although the exact launch date remains undisclosed, industry watchers are closely monitoring the RLUSD stablecoin progress. The anticipation is understandable as many XRP enthusiasts many hoping that the launch of RLUSD signifies a nearing resolution of the Ripple SEC lawsuit. 
However, the blockchain firm might be able to avert the risk of another lawsuit if a pro-crypto administration takes over after the November elections. Presidential candidate Donald Trump has affirmed his pro-crypto stance multiple times. Furthermore, former SEC attorney Marc Fagel believe that the agency’s approach toward the crypto industry might change in case a pro-crypto candidate wins. 
Also Read:&nbsp;<a href="https://coingape.com/ethereum-etf-outflows-hit-170m-in-a-week-whats-next-for-eth/" target="_blank" rel="noopener">Ethereum ETF Outflows Hit $170M In A Week, What’s Next For ETH?</a> 
<h2 id="remedies-ruling-timeline">Remedies Ruling Timeline</h2> 
Former Ripple director Sean McBride recently fueled further speculation by posting on X about the odds of Judge Torres ruling in August. His post has garnered significant attention from both the XRP community and the broader crypto space. McBride suggested a “50/50” chance of Judge Torres issuing a decision in August. 
Commenting on the post, one user noted that Ripple CEO Brad Garlinghouse had previously predicted a <a href="https://coingape.com/ripple-sec-lawsuit-ex-ripple-reveals-odds-of-judge-torres-ruling-in-august/" target="_blank" rel="noopener">XRP lawsuit</a> resolution by the end of summer. Thereafter, McBride responded that if there is a delay in the ruling, it is highly likely that Judge Torres will give her decision by the end of September. 
However, speculations about a possible settlement between Ripple and the SEC have been debunked by legal experts. Pro-XRP lawyer Bill Morgan and former SEC attorney Marc Fagel have downplayed the likelihood of a settlement. 
Morgan recently described a potential settlement as “unlikely.” He also suggested that if a settlement does occur, it would be a compromise rather than a significant victory. In addition, he pointed out that Ripple might still face significant challenges related to XRP sales beyond December 2020 and future sales of the token. 
<h2 id="xrp-news-1-billion-token-unlock">XRP News: 1 Billion Token Unlock</h2> 
The ongoing XRP lawsuit has drawn varied opinions from legal experts and the token’s supporters. Ripple executives, including Brad Garlinghouse, have made comments that fuel speculation about a potential conclusion. 
Additionally, Ripple’s Q2 2024 XRP market report expressed confidence in a “fair” ruling. It stated that they believe the central ruling that XRP is not a security will remain unchanged, regardless of the outcome. 
The SEC has sought a substantial $1 billion (excluding interest) penalty from the crypto firm for alleged violations. Conversely, Ripple has indicated it is willing to settle for no more than $10 million. This significant gap suggests that reaching a settlement might be challenging. 
However, according to the latest XRP news, 1 billion XRP worth approximately $579.43 million was unlocked. This led to an 8% slump in <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener">XRP price</a>, breaching the $0.6 psychological support level. This move has further ignited speculations of a Ripple SEC lawsuit settlement. Netizens view this initiative as a means to pay off penalties and reach a resolution. 
Also Read:&nbsp;<a href="https://coingape.com/jump-trading-dumping-ethereum-which-crypto-is-next/" target="_blank" rel="noopener">Jump Trading Dumping Ethereum, Which Crypto Is Next?</a> 
The post <a href="https://coingape.com/xrp-news-ripple-faces-risk-of-another-sec-lawsuit/">XRP News: Ripple At Risk Of Another SEC Lawsuit, Here’s Why</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

XRP News: Ripple At Risk Of Another SEC Lawsuit, Here’s Why

Table of Contents

Coingape News Media

Other articles published on Aug 5, 2024

Ferrari to Extend Cryptocurrency Payments to Europe by July End

Coinbase (COIN) Shares Drop More Than 9 Percent in Pre-Market Trading

Bitcoin Price Drops Sharply in 24 Hours

Ethereum Spot ETFs Begin Trading On July 23: Here Are The Stats So Far

XRP Price Falls Below $0.50: Key Takeaways for the Market

Neiro Meme Coin Soars 110% Despite Vitalik Buterin’s Sell-Off

Join our free newsletter for daily crypto updates!