At Extreme Investor Network, we pride ourselves on providing our readers with unique and valuable insights into the stock market, trading, and all things related to Wall Street. Today, we are going to delve into the recent developments surrounding Ripple and its strategic move with RLUSD.
Ripple’s decision to seek regulatory approval for RLUSD comes after a final judgment that orders the company to operate within legal boundaries or face further legal action. The Securities and Exchange Commission (SEC) could potentially challenge RLUSD, but they must prove how RLUSD holders could expect profits, which is a crucial aspect of the Howey Test.
In April 2024, the SEC filed a reply brief targeting Ripple’s stablecoin plans, claiming it as an issuance of a new unregistered crypto asset. A victory for Ripple in this legal battle with the SEC could potentially pave the way for an XRP-spot ETF market. However, the SEC may still appeal the Programmatic Sales of XRP ruling, adding more uncertainty to the situation.
Speaking of uncertainty, Ripple is still facing ongoing challenges in the US as it seeks approval for RLUSD. Pro-Crypto Lawyer Bill Morgan highlighted the regulatory uncertainty surrounding the approval of RLUSD, emphasizing the challenges Ripple is currently facing in the regulatory landscape.
As XRP price trends remain uncertain, both Ripple and the SEC must file appeals within 60 days of the final judgment. The uncertainty surrounding the SEC’s decision to appeal could impact XRP demand, potentially leading to a drop in price. However, if the SEC decides against an appeal and approves RLUSD, we could see XRP rallying to previous highs.
Stay tuned to Extreme Investor Network for more updates on Ripple, the SEC, and the ever-evolving world of cryptocurrency regulations. We aim to provide our readers with insights and analysis that go above and beyond the standard market news, so you can make informed investment decisions.