Ripple’s XRP Experiences Surge Amid Ongoing SEC Battle and ETF Prospects in 2024
The post Ripple’s XRP Experiences Surge Amid Ongoing SEC Battle and ETF Prospects in 2024 appeared on BitcoinEthereumNews.com.
The Ripple ecosystem has seen unprecedented developments in 2024, from an ongoing legal battle with the SEC to soaring XRP prices and a new stablecoin launch. This year marks a significant turnaround for Ripple, demonstrating robust market resilience as regulatory challenges continue to hover. “It will backfire on the SEC,” Ripple Labs Chief Legal Officer Stuart Alderoty stated regarding the ongoing legal disputes over XRP. Explore Ripple’s significant 2024 milestones, including legal battles, ETF ambitions, and the launch of RLUSD, amidst a soaring XRP market performance. Ripple’s Legal Struggles and XRP Market Surge Ripple’s journey in 2024 has been dominated by its legal battle against the U.S. Securities and Exchange Commission (SEC), which seeks to clarify the status of XRP as a security. After nearly five years of litigation, a favorable ruling from last year indicated that sales of XRP to retail investors did not constitute a violation of U.S. securities laws. However, the SEC recently filed an appeal, challenging certain aspects of the ruling that pertain to sales on digital asset exchanges and transactions by Ripple executives. Ripple’s Chief Legal Officer, Stuart Alderoty, expressed optimism about the outcome of the appeal, suggesting that a resolution might be expected by 2026. He characterized the SEC’s actions as potentially counterproductive, asserting a strong commitment from Ripple to navigate these complexities. The Potential of XRP ETFs The creation of XRP ETFs is gaining traction, with various asset managers now eager to introduce these products in the U.S. market. Ripple CEO Brad Garlinghouse claims that the inclusion of XRP in exchange-traded funds is now “inevitable,” pointing to the billions of dollars that have already flowed into Bitcoin and Ethereum ETFs this year. Noteworthy filings include WisdomTree and Bitwise, which have initiated the regulatory process for their own XRP ETFs via Delaware. As demand…
Filed under: News - @ December 29, 2024 8:07 pm