tl;dr
The launch of Ripple's RLUSD stablecoin website has sparked speculation about the potential conclusion of its lawsuit with the SEC. While some see it as a sign of nearing resolution, others caution about the possibility of a new lawsuit. Ripple might face fresh scrutiny over its stablecoin venture e...
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XRP News: Ripple's RLUSD stablecoin launch sparks speculation on lawsuit conclusion
- Ripple could face fresh scrutiny with RLUSD, potential for new lawsuit
- Speculation on Judge Torres ruling and potential Ripple-SEC settlement
- Ripple's confidence in fair ruling amid SEC's $1 billion penalty demand
- 1 billion XRP unlocked sparks speculation on lawsuit settlement
The launch of Ripple's RLUSD stablecoin website has sparked speculation about the potential conclusion of its lawsuit with the SEC. While some see it as a sign of nearing resolution, others caution about the possibility of a new lawsuit. Ripple might face fresh scrutiny over its stablecoin venture even if the current lawsuit ends. The creation of a dedicated website indicates final stages of preparation, with industry watchers monitoring its progress. Speculation about a possible settlement between Ripple and the SEC has been debunked by legal experts. Ripple's Q2 2024 XRP market report expressed confidence in a "fair" ruling, stating 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 penalty from Ripple for alleged violations, while Ripple is willing to settle for no more than $10 million. Additionally, 1 billion XRP worth approximately $579.43 million was unlocked, leading to an 8% price slump and further igniting speculations of a Ripple SEC lawsuit settlement.
XRP News: Ripple’s launch of the RLUSD stablecoin website has ignited speculation within the XRP community about the potential conclusion 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 end 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.
RIPPLE TO FACE ANOTHER SEC LAWSUIT?
When a crypto influencer questioned the impact of the RLUSD 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.
RULING TIMELINE
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 XRP lawsuit 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
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Company: Emeren Group Ltd, ReneSola Ltd
Industry: Manufacturing, Semiconductors & Related Devices
Market Cap: 88786000
Headquarters: Stamford, Connecticut
EPS: -0.68
Revenue: 1.918
Net Income: -0.127
Volume: 106582000
Dividend Yield: 4.38
P/E Ratio: 3.42
Price/Book: 0.148