Ripple Chief Technology Officer (CTO) David Schwartz identifies Chris Larsen as the most important person in the company’s history. 

Read more on: https://thecryptobasic.com/2024/05/25/david-schwartz-identifies-most-prominent-figure-in-ripple/
#Ripple💰 #RippleStablecoin #CryptoNewsDaddy #CryptoNews🚀🔥"

Ripple is progressing towards launching its own stablecoin, Ripple USD (RLUSD), designed for instant cross-border money transfers and payment services.
The San Francisco-based company introduced a dedicated website page for the highly anticipated project, which was first revealed in April with a focus on regulatory compliance. The stablecoin's name was officially disclosed at the XRP Ledger Community Summit in Amsterdam in June. Ripple President Monica Long has indicated that the stablecoin could launch in 2024.

Initially, RLUSD will be issued on the XRP Ledger and Ethereum, with potential expansion to other blockchain networks in the future. According to Vet, the operator of the XRP Ledger dUNL, Solana could be a strong candidate for future support, as well as potentially addressing the gap in stablecoin options on Cardano. Ripple's stablecoin will enter a competitive market dominated by well-established players like Tether's USDT and Circle's USDC. Tether's USDT, with a market cap of $114 billion, is currently the third-largest cryptocurrency according to CoinGecko data.

Brad Garlinghouse, Ripple's CEO, recently made remarks that were perceived as critical of leading stablecoin Tether (USDT). After receiving some pushback from Paolo Ardoino, Tether's CTO, Garlinghouse clarified his position, stating that he did not intend to attack Tether.
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$ETH $XRP $USDC

Ripple Scores Major Victory Over SEC
In a groundbreaking decision that has sent shockwaves through the cryptocurrency industry, a federal judge has ruled that $XRP, the digital asset created by Ripple Labs, is not a security. The long-awaited verdict brings a three-year legal battle between Ripple and the Securities and Exchange Commission (SEC) to a close.  
While the court found in favor of Ripple on the core issue of XRP's classification, the company has not escaped entirely unscathed. The judge ordered Ripple to pay a $125 million civil penalty for certain institutional sales of XRP that were deemed to violate securities laws. However, the penalty is significantly lower than the billions of dollars in fines and disgorgement sought by the SEC.  
Implications for the Crypto Industry
The ruling is a major win for Ripple and the broader cryptocurrency industry. It provides much-needed clarity on the regulatory status of digital assets and could pave the way for increased adoption of cryptocurrencies in the United States. However, it's important to note that this decision specifically pertains to XRP and may not set a precedent for other cryptocurrencies.  
The SEC has not yet commented on the ruling or indicated whether it plans to appeal.
XRP Price Surges
News of the favorable verdict sent the price of XRP soaring, with the cryptocurrency experiencing a significant increase in value. Investors and traders are optimistic about the future of XRP and the broader crypto market in light of this landmark decision.
As the dust settles on this historic case, the cryptocurrency industry eagerly awaits further developments and guidance from regulators as they navigate the complex legal landscape.

Renowned international magazine Forbes recently published a critical report on XRP and Ripple Labs, describing both entities as good-for-nothing and zombie projects.

Read more on: https://thecryptobasic.com/2024/06/08/forbes-brands-xrp-as-good-for-nothing-zombie-crypto/
#RippleStablecoin #Xrp🔥🔥 #Crypto #CryptoNewsDaddy #CryptoNews🚀🔥"

Ripple CEO Brad Garlinghouse suggests that President Joe Biden’s administration must demand the resignation of SEC Chair Gary Gensler to demonstrate his seriousness for crypto. 

Read more on: https://thecryptobasic.com/2024/06/01/ripple-ceo-says-biden-must-get-rid-of-sec-chair-gensler-if-hes-serious-about-crypto/
#RippleStablecoin #SECCryptoRule #Crypto #CryptoNewsCommunity #CryptoNews🚀🔥V

Ripple has recently garnered attention for its deliberate approach to securing regulatory approval for its new stablecoin, Ripple USD (RLUSD). This is something that the company is addressing to adhere to the approval requirements against several other existing stablecoins that currently run without any approvals from the necessary bodies.
In a press release on August 9, 2024, the company stated that RLUSD had been launched in its first live testing zone at the XRP and Ethereum mainnets. However, the Ripple team is keen to clarify that RLUSD is not yet purchasable or tradable at the moment. Such issues became the center of discussions within the XRP community as the company insisted that regulatory approval was still pending.
Ripple first introduced the concept of RLUSD in June 2024, with CEO Brad Garlinghouse describing it as the "Real USD." The announcement generated significant interest, particularly given the potential for the stablecoin market to expand from its current valuation of $150 million to as much as $3 trillion by 2028. Ripple's conservative move is instead an exception to the current stablecoins in the market, as more than half of the available ones are yet to be cleared by the regulatory authority.
The post "Ripple Pushes for Regulatory Approval of RLUSD Stablecoin Amid Market Developments" first appeared on 36crypto.com News.
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