The Ripple ecosystem has experienced a pivotal year, marked by significant launches and renewed regulatory optimism, despite an ongoing battle with the U.S. Securities and Exchange Commission (SEC). The SEC’s lawsuit against Ripple, initiated nearly four years ago, is still unfolding, with a decision expected by 2026.
Ripple and SEC Continue to Spar
The SEC’s lawsuit against Ripple alleges that the company held an unregistered securities sale, initiating a $1.3 billion lawsuit. A judicial ruling last year concluded that sales of XRP to retail investors did not violate U.S. securities laws, a favorable ruling for Ripple. However, the SEC filed an appeal in October, contesting aspects of the previous year’s ruling.
XRP ETFs on the Horizon
Billions of dollars have poured into exchange-traded products for Bitcoin and Ethereum in 2024, and XRP is expected to join the party in the U.S. soon. Ripple CEO Brad Garlinghouse believes that XRP ETFs are “inevitable.” Asset managers WisdomTree, Bitwise, and 21Shares have filed for ETFs, which could provide investors with similar options.
XRP Reaches Seven-Year High
XRP has captured significant attention in recent months, reaching price levels it had not seen in almost seven years. The token broke through the $1.92 threshold in late November and extended its gains to a local high of $2.82 earlier this month. XRP briefly flipped Tether to become the third-largest cryptocurrency by market cap.
RLUSD Launches
Ripple’s stablecoin, RLUSD, launched on December 17, backed by U.S. dollars, U.S. government bonds, and cash equivalents. The stablecoin is designed to provide users with cross-border payment solutions and is live for trading on Ethereum and the XRP Ledger.
XRP Ledger Joins Meme Coin Frenzy
The XRP Ledger briefly joined the meme coin frenzy, allowing some traders to turn a few thousand dollars into a few hundred thousand. The craze led to major activity on the XRP Ledger, with validators agreeing to reduce reserve fees.
Source: Decrypt.co
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