📣 XRP News: Ripple At Risk Of Another SEC Lawsuit, Here’s Why
With the launch of a dedicated website for RLUSD stablecoin, the XRP community expects the Ripple SEC lawsuit to conclude soon. However, legal experts cautioned a renewed lawsuit.
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.
🔸XRP News: 1 Billion Token Unlock
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 XRP price, 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.
