Seeds of Wisdom RV and Economic Updates Friday Morning 3-21-25
Good Morning Dinar Recaps,
SEC’S OFFICIAL STATEMENT ON RIPPLE LAWSUIT STILL PENDING: HERE’S WHAT WE CAN EXPECT
Brad Garlinghouse, CEO of Ripple, recently announced that the SEC has finally dropped its appeal against Ripple, marking the end of a lengthy legal battle that lasted over three years. The SEC has decided not to pursue further legal action, confirming that Ripple is no longer under threat from the regulatory body.
This decision has had an immediate impact on XRP’s price, which surged following the announcement. The legal saga, which began with the SEC’s claim that Ripple violated securities laws by selling XRP, has been a major point of contention in the cryptocurrency space.
Fox Business journalist Eleanor Terrett responded, explaining that the SEC still needs to formally approve the withdrawal of its appeal. Once the Commission gives the green light, they can expect a press release similar to the one issued earlier this year when the SEC dismissed its lawsuit against Coinbase.
Terrett added that the SEC typically addresses matters of litigation and enforcement during their closed meetings. The dismissal of the Ripple case will likely be discussed at one of these meetings, which is scheduled for next Thursday.
@ Newshounds News™
Source: Coinpedia and Twitter
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RIPPLE CEO PREDICTS NEW RLUSD CRYPTO TO BE TOP 5 STABLECOIN BY YEAR END FOLLOWING SEC’S DROPPED XRP LAWSUIT
Ripple CEO Brad Garlinghouse says the firm’s dollar-pegged crypto asset will become a top stablecoin by the end of the year after the U.S. Securities and Exchange Commission (SEC) dropped its lawsuit against the payments platform.
In a new interview, Garlinghouse says that RLUSD – which launched in December 2024 – will grow into a top-five stablecoin after the regulatory agency dropped its lawsuit against Ripple Labs for allegedly violating securities law.
According to Garlinghouse, the stablecoins sector of the industry should see massive growth in the next few years.
“I think we’re underestimating how big [stablecoins] might get. Today, that market is about $230 billion. Some smart people think that may go up 10x in the next five years – I think that’s probably right…
Ripple launched its own stablecoin at the end of the last year that’s already ahead of our own internal forecast in terms of where we are at this point…
We’re still really small, but the goal is by the end of the year, for RLUSD, Ripple’s stablecoin, to be one of the top five in the market, and I think the whole market is going to grow dramatically this year.”
Earlier this week, the SEC announced it is dropping its case against Ripple Labs for allegedly selling unregistered securities, causing XRP, the digital asset associated with the firm, to rally.
Ripple was initially sued by the SEC in 2020, but a judge in 2022 ruled that the open-market sales of XRP to retail investors do not qualify as securities.
XRP is trading for $2.47 at time of writing, a 2.4% decrease on the day while RLUSD has a market cap of $169.6 billion.
@ Newshounds News™
Source: DailyHodl
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