The XRP community is abuzz with speculation as Ripple launches a dedicated website for its RLUSD stablecoin, raising hopes for a resolution to the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). However, legal experts caution that new challenges may be imminent.

The introduction of the RLUSD stablecoin website has led some XRP enthusiasts to believe that Ripple is nearing the end of its legal troubles with the SEC. However, Fred Rispoli, a lawyer and strong XRP supporter, suggests otherwise. Responding to queries about RLUSD's impact on the ongoing case, Rispoli remarked, “Any issues the SEC has with $RLUSD is for another lawsuit and cannot be bootstrapped to one that is about to end!” This statement implies that Ripple could face a new lawsuit over its stablecoin, even if the current case concludes.

RLUSD Stablecoin Developments

Ripple’s President, Monica Long, had previously indicated a 2024 launch date for RLUSD, and the creation of a dedicated website suggests the company is in the final stages of preparation. Although the exact launch date is undisclosed, the XRP community is closely watching, hoping that the stablecoin's launch signifies an imminent resolution of the lawsuit.

The outcome of the lawsuit might also be influenced by the political landscape. If a pro-crypto administration takes office after the November elections, Ripple could potentially avoid another lawsuit. Presidential candidate Donald Trump has repeatedly expressed his support for cryptocurrencies, and former SEC attorney Marc Fagel believes the agency’s stance on the crypto industry might shift under a pro-crypto administration.

Judge Torres' Ruling and Settlement Prospects

Further speculation was fueled by former Ripple director Sean McBride, who posted about the odds of Judge Torres ruling in August, suggesting a “50/50” chance. Ripple CEO Brad Garlinghouse had predicted a resolution by the end of summer, and McBride noted that if there is a delay, a decision might come by the end of September.

However, the possibility of a settlement between Ripple and the SEC appears slim. Pro-XRP lawyer Bill Morgan and former SEC attorney Marc Fagel have both downplayed the likelihood of a settlement. Morgan described a potential settlement as “unlikely,” suggesting it would be more of a compromise than a significant victory. He also noted that Ripple could face ongoing challenges related to XRP sales beyond December 2020 and future token sales.

Market Impact and Token Unlock

The ongoing lawsuit has led to varied opinions among legal experts and XRP supporters. Ripple's Q2 2024 XRP market report expressed confidence in a "fair" ruling, maintaining that the core decision—XRP is not a security—will stand.

The SEC has demanded a substantial $1 billion penalty (excluding interest) from Ripple for alleged violations. Ripple, on the other hand, is willing to settle for no more than $10 million, highlighting the significant gap and the challenge of reaching a settlement.

Adding to the market dynamics, 1 billion XRP worth approximately $579.43 million was recently unlocked, causing an 8% drop in XRP's price, breaching the $0.6 support level. This move has intensified speculation about a potential Ripple-SEC lawsuit settlement, with some viewing it as a strategy to pay off penalties and resolve the case.

As the legal battle continues, the XRP community and broader crypto market remain on edge, closely monitoring developments and potential implications for Ripple’s future.

$XRP #XRP #Ripple

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