Are you keeping up with the latest news on Ripple and XRP? The SEC has targeted Ripple’s plans to launch a stablecoin, labeling it as a new unregistered crypto asset. This has left XRP in a state of uncertainty, with investors eagerly awaiting a court ruling in the coming months. It is expected that the SEC will appeal the Programmatic Sales of XRP ruling after the verdict.
In a recent development, Judge Analisa Torres ruled that programmatic sales of XRP do not satisfy the third prong of the Howey Test, adding to the ongoing saga surrounding Ripple and XRP. Despite these challenges, Ripple remains resilient and focused on expansion, undeterred by the legal battles and regulatory uncertainties.
Ripple made headlines with the announcement of acquiring Standard Custody and the hiring of Jack McDonald to lead the stablecoin initiative. Ripple CEO Brad Garlinghouse expressed his excitement about the new additions, emphasizing the importance of custody in the crypto market. This acquisition underscores Ripple’s commitment to providing essential infrastructure for institutions to store and manage digital assets.
However, the XRP price action has remained relatively subdued in response to these developments, as the focus remains on the legal showdown between Ripple and regulatory authorities. Stay tuned for more updates on Ripple, XRP, and the evolving cryptocurrency landscape on Extreme Investor Network.