It's been a pivotal year for the Ripple ecosystem, marked by significant startups and renewed regulatory optimism. That optimism comes despite a battle with the U.S. Securities and Exchange Commission that will soon enter its fifth year.
even if XRPRipple-linked asset, prices not seen since 2018. In the process, market capitalization has returned to three major crypto assets – and now several asset managers have filed documents to initiate the regulatory process with the XRP ETF.
Dig that and more in XRP and Ripple in a year.
Ripple and the SEC will continue to be conservative
It has been almost four years since the SEC started. Ripple held an unregistered securities saleHe launched a $1.3 billion lawsuit against the company.
Last year, a jury ruling that ended the sale of XRP to retail investors did not violate US securities laws, a good decision for Ripple. Yet this year, the saga is still unfolding.
In October, the SEC filed an appeal challenging aspects of last year's ruling. It focuses on XRP sales on digital asset trading platforms and personal sales by Ripple executives. It was fast Following Ripple's cross-appealAfter that, Ripple Labs Chief Legal Officer Stuart Alderotti said Decrypt The first appeal – “it will burn back on the SEC.”
When will we know? I don't think Alderoty will take long to reach a conclusion at this time, a decision can be made in 2026.
Are XRP ETFs Inevitable?
Billions of dollars have been invested in Bitcoin and Ethereum and XRP trading products by 2024 Joining the party is “inevitable” in America. According to Ripple CEO Brad Garlinghouse.
Products for the XRP exchange are available in markets outside the United States, but some asset managers have discovered the regulatory process underway in the US to offer similar options to investors.
Managers WisdomTree And In moderation They sued the EFAs through the state of Delaware. 21Shares has posted the XRP ETF file. to the SEC. According to analysts, the potential of these ETFs has helped. A record breaker is in. Help for XRP price rise in those products.
XRP reached a seven-year high
XRP has attracted a lot of attention in recent months, It has reached a price level that has not been seen in seven years In the process.
In the year After peaking at $1.92 during the 2021 crypto cycle, XRP broke through the ceiling in late November and extended its gains to $2.82 earlier this month. In the process, he Tether is briefly reversed To become the third largest cryptocurrency by market capitalization.
That surge pushed XRP to a level it hasn't sold since January 2018, where it still stands at an all-time high of $3.40. CoinGecko.
While the token has rebounded from the area's highs, it remains one of the top performing crypto assets of the year, gaining more than 250% in that time frame.
RLUSD begins
After much anticipation, Ripple's stablecoin—RLUSD—kick off On December 17. In a year where the RLUSD is a stable coin backed by US dollars, US government bonds and cash equivalents, or Tokens are pegged to the value of fiat currencies.It jumped 56% from $130 billion to $204 billion in circulation Depilama.
Designed to provide users with cross-border payment solutions, RLUSD is live for trading on Ethereum and XRP Ledger.
Administered by the New York Department of Financial Services, the Ripple stablecoin can be traded on MoonPay, Uphold, Bitso, Archax and CoinMENA, with more options available to users in the future.
b Avoid the controversy surrounding other stablecoin issuersRipple publishes monthly third-party verifications to maintain transparency about stablecoin support.
XRP Ledger has joined the meme party.
Meme Coins Make Big Break On Blockchains In 2024, Led By Solana And Over 4 Million Tokens Deployed On Token Launchpad Pump. Fun.
But for a short time, XRP Ledger joined the frenzy, allowing some traders to turn a few thousand dollars into a few hundred thousand. For example, a user The meme coin business ARMY It has posted a profit of over $100,000 and a profit of over $400,000 from a $478 purchase two weeks ago.
The craze has caused a lot of activity on the XRP Ledger, among its validators He agreed to reduce the reserve feesOr the amount of XRP needed to maintain an account on the ledger.
On December 2, XRP Ledger broke all-time records for new active accounts and unique active accounts reaching over 105,000 – almost double the previous all-time high. Based on XRP scan data.
Most of the meme coins on the XRP Ledger have been fully retired, giving participants a (short) window of life on more meme-happy blockchains.
Edited by Stephen Graves
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