Ripple (XRP) News today July 30

In recent weeks there were pretty turbulent for XRP and the company behind it. In this article we will do that account The latest updates involved The two and analyze the price dynamics of the token.

Has the Ripple/SEC struggle closed?

The important Developments in the legal struggle between Ripple and the US Securities and Exchange Commission (SEC), more specifically, the profit of the company, have left some the expectation that the battle is over.

Recently” the American lawyer Bill Morgan said The supervisor did not withdraw his profession yet. He emphasized that the committee does not have a formal deadline to do this, although it is required to submit a status update to the Court of Appeal By August 15th.

The legal match refers to a court decision in 2023. At that time, judge Analisa Torres ruled Those Ripple’s sale of XRP -Tokens on secondary markets are not effects. The SEC appealed against the ruling, while the company submitted a Cross application, that was withdrawn later.

Earlier this year, the two parties jointly asked for the appeal pause To allow time for a possible arrangement. The court respected their wishes, but required the supervisor to submit a status report in mid -August. Many believe that if the SEC agrees to withdraw his profession, this could mark the final solution to the case.

On the non -ingwrden, It all started In December 2020, when the committee has brought a lawsuit against Ripple and accused of carrying out a non -registered supply of securities by selling XRP -Tokens. Initially it was looking for no less than $ 2 billion, while years later Judge Torres ruled A fine of $ 125 million. In addition, the SEC and Ripple Shake hands on An even smaller sum of $ 50 million.

RLUSD continues to progress

A trending active within the Ripple ecosystem is the USD-Pegged Stablecoin, RLUSD. The product, which officially debuted in December last year, recently saw its market capitalization rising by $ 500 million and attracted the attention of some major financial players.

When Cryptopotato reportedthe assets was recognized By the Dubai Financial Services Authority (DFSA) as a crypto -toky within the Dubai International Financial Center (DIFC)” while The oldest American bank, Bny Mellon, agreed To serve as a keeper for RLUSD.

In the meantime, the market capitalization of the Stablecoin continued to grow in the coming weeks and is currently around $ 577.6 million.

Spot XRP ETF income?

Have various XRP exchange-related funds pop up In the United States in the past multiple months. However, they are all based on futures and you can check the details here.

The XRP army eagerly waited for the launch of a place XRP ETF, which is expected To have a greater impact on the price of the underlying token.

Some of the well -known companies that want to launch such a product are bitwear, gray final, Franklin Templeton, Wisdomtree and more. According to Polymarket, the opportunities for approval are around 87%before the end of the year.

XRP -Price views

Ripple’s Native Token exploded A new highlight of $ 3.65 mid -July, but since then it has been that on A falling trend, which is currently being traded at around $ 3.08 (per Coingecko’s data).

But some important Factors suggest that this can be a temporary correction, followed by another rally. Large investors have for example bought 60 million XRP -Tokens in the last 24 hours. This to show strong faith in the active and can encourage other smaller players jump up The Bandwagonat.

The amount of tokens stored on fairs has been declining Recently suggesting that holders may have moved their money to cold storage. ThisIn turn, the immediate sales pressure reduces.

Last but not least, the number of XRP portfolios continues to grow, points to solid user involvement and increasing interest in the network. The figure reaches A peak of 7.2 million on July 21 And is currently in the direction of 7.3 million.