Stablecoin

April

USDC

<p><em><strong>Ripple is currently in the spotlight after a series of events for the crypto company, It is planning to enter the stablecoin market with SEC Tailgating.</strong></em></p>
<p>XRPLedger, the blockchain Ripple Labs developed, will get a major (automated market maker) AMM update on Thursday. All nodes need to upgrade to version 2.1.1 for the update to work. The XRPLedger grants program supports innovation and development of useful applications. Developers are welcome to apply.</p>
<h2 class="wp-block-heading" id="strong-ripple-s-new-stablecoin-to-launch-soon-strong"><strong>Ripple’s New Stablecoin To Launch Soon?</strong></h2>
<p>Ripple has plans to enter the stablecoin market which is worth $150 Billion. It intends to achieve this by launching a digital coin that is pegged to the U.S. dollar.&nbsp;</p>
<p>However, the initial launch is planned to take place in the U.S. Furthermore, the company may consider regional versions of the product in regions like Europe and Asia.</p>
<p>Ripple claims that this new currency launch is in response to the temporary de-pegging of Tether’s USDT and Circle’s USDC. Moreover, it suggests that the market has some degree of uncertainty, and Ripple aims to benefit from it.</p>
<p>The currency in question will be backed one-to-one with assets like cash equivalents, government bonds, and U.S. dollar deposits, as per Ripple. These reserves will be audited monthly, and the proof will be made available in reports that will be published publicly. However, the audit firm’s name has not been disclosed.</p>
<h3 class="wp-block-heading" id="strong-on-demand-liquidity-product-strong"><strong>On-Demand Liquidity Product</strong></h3>
<p>The On-Demand Liquidity product is intended to enable quick settlement of transactions between financial institutions. Therefore, Ripple states that the stablecoin will be part of its On-Demand Liquidity product. The company has not been able to demonstrate to banks and payment processors how their coin can be useful so far.</p>
<h2 class="wp-block-heading" id="strong-sec-tailgating-ripple-in-the-crypto-race-strong"><strong>SEC Tailgating Ripple In The Crypto Race</strong></h2>
<p>Investors are currently uncertain about the SEC vs. Ripple case, which is one of the primary factors affecting XRP price volatility. The SEC has not yet provided any updates on the case, leaving investors to speculate about the outcome and the SEC’s intention to appeal.</p>
<p>However, considering the current strict actions that the SEC and the US government have taken, experts are concerned.</p>
<p>Despite the penalty Ripple may face for breaching Section 5 of the 1933 Securities Act, which Judge Analisa Torres ruled in favor of in July 2023, the price chart indicates that the crypto market is confident that Ripple can avoid a punitive penalty.</p>
<p>However, the <a href="https://www.thecoinrepublic.com/2024/01/20/ripple-challenges-secs-financial-request-as-untimely-irrelevant/" target="_blank" rel="noopener noreferrer nofollow">SEC’s </a>plans to appeal the Programmatic Sales of XRP ruling remain the main focus. Judge Torres also ruled in July 2023 that programmatic sales of XRP do not meet the third prong of the Howey Test.</p>
<p>If the SEC successfully appeals the Programmatic Sales ruling, it could have significant implications for the US digital asset space. The recent ruling in the SEC vs. Terraform Labs case has also led to uncertainty about the appeal outcome.&nbsp;</p>
<p>In December, Judge Jed Rakoff ruled that Terraform Labs and Do Kwon breached US securities laws for not registering TerraUSD and Luna as securities. Judge Rakoff also criticized the Programmatic Sales of XRP ruling, which incentivized the SEC to appeal.</p>
<p>Following a series of losses, the SEC’s momentum may have shifted. Court denied most of Coinbase’s unregistered securities exchange charges. Ripple and Coinbase’s future rulings create uncertainty and volatile price action. XRP experienced a 0.11% decline on April 9th, ending the session at $0.6147.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>XRPLedger is getting a major update requiring all nodes to upgrade. Ripple is launching new currency in response to Tether and Circle’s USDC de-pegging. Experts worry that SEC’s strict actions may have significant implications for the US digital asset space, The SEC vs. Terraform Labs case has also led to uncertainty about the appeal outcome.</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.</p>

XRP News: AMM Update, Ripple’s Possible Stablecoin, SEC Lawsuit

Table of Contents

Thecoinrepublic.com

Alte articole publicate pe 10 apr. 2024

Solana rival Base hits 400 TPS, claims core contributor

WOO X Launches First-of-its-Kind Crypto Index Perpetual Contracts

Bitcoin’s Q1 paradox: Prices up by 69%, but not all good news because…

Bitcoin, Ethereum, Dogecoin Dip As $250M Crypto Liquidations Strike — Analyst Cautions Fed Rate C...

Win from a massive $1.29M Prize Pool! - Join The Fountain of μ ⛲

Bitgert’s Rise Continues: Investors Eagerly Acquire Bitgert Coin

Join our free newsletter for daily crypto updates!