- XRP overtakes Tether: XRP is now the third largest cryptocurrency with a price increase of 30% and a market capitalization of $141.8 billion.
- Future developments and RLUSD: The upcoming launch of the RLUSD stablecoin and the resignation of SEC Chairman Gary Gensler could stabilize XRP and fuel the crypto market.
- Legal victory against SEC: Ripple won an important legal battle against the SEC, which affects its future compliance and handling of securities laws.
Future Prospects of XRP
With a current market capitalization of $141.8 billion, XRP has not only outperformed Tether, but has also seen a 364.1% price increase over the last month.
The future of XRP looks bright, especially with the upcoming launch of RLUSD. This development could help stabilize the price of XRP. Additionally, the impending resignation of SEC Chairman Gary Gensler could lead to a more relaxed regulatory environment. This environment would not only help XRP but also push the entire crypto market.
Legal victory for Ripple in SEC proceedings
Another key moment for XRP was the positive outcome of the legal disputes with the US Securities and Exchange Commission (SEC). This had accused Ripple of selling unregistered securities. The court decisions not only set financial penalties for Ripple, but also governed the company’s future dealings with future securities laws.
Peter Chung from Presto Research emphasizes that it is precisely this expectation surrounding the approval of the RLUSD stablecoin that plays an important role in the current price gains.
Piet Wetenkamp