- Ripple's CEO has recently shared the payment giant's progress in the SEC vs. Ripple case.
- Ripple announces partnership with the Republic of Palau to help the country explore its first national digital currency.
- Ripple forays into NFTs with a $250 million fund as it partners with mintable, VSA partners and mintNFT.
Ripple CEO shares the payment giant's progress in the SEC vs. Ripple case. The firm is making strides with new partnerships, powering the national digital currency of the Republic of Palau.
SEC vs. Ripple case expected to close in 2022 with positive outcome
In a recent interview, Brad Garlinghouse, CEO of Ripple, told CNBC that the payment giant is making strides in court proceedings in the SEC vs. Ripple case.
Garlinghouse said,
We're seeing pretty good progress despite a slow-moving judicial process. Clearly we're seeing good questions asked by the judge. And I think the judge realizes this is not just about Ripple, this will have broader implications.
The Securities & Exchange Commission (SEC) has raised concerns about the payment giant's close ties with XRP. Ripple is the largest public holder of the altcoin, and the proceedings in the case against the firm have impacted the cryptocurrency's price.
Ripple's On-Demand Liquidity (ODL) corridor uses XRP to facilitate cross-border transactions for clients at a lower cost. This has raised flags for regulators, as the SEC suspects that $1.3 billion XRP was sold as an unregistered securities offering.
Proponents on crypto Twitter argue that the outcome of the SEC vs. Ripple case would have broader implications for Ethereum and other cryptocurrencies in the market.
Alongside the legal proceedings, Ripple has now partnered with the Republic of Palau, an island country, to power a national digital currency. Ripple has previously worked with Asian countries, partnering with them to provide liquidity through the ODL corridor or power national digital currencies, like in the case of Bhutan.
The payment giant is struggling to remain relevant as most competitors foray into NFTs and the metaverse. Ripple announced a $250 million fund in partnership with mintable, VSA partners and mintNFT to support creators and marketplaces working on NFT projects.
FXStreet analysts have evaluated the XRP price trend and predicted that the altcoin will see fireworks if it moves above $1.2.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Ethereum fees drops to lowest level since October, ETH sustains above $3,200
Ethereum’s high transaction fees has been a sticky issue for the blockchain in the past. This led to Layer 2 chains and scaling solutions developing alternatives for users looking to transact at a lower cost.
Solana, Base and AI meme coins rally, are speculative tokens making a comeback?
Meme coins are typically considered more speculative than the rest of cryptocurrency categories. Despite the label, hedge funds and institutional investors have warmed up to meme coins this cycle.
RWA narrative could make a comeback after nearly 50% correction in CFG, ONDO, MKR
Bitcoin halving and developments in the AI sector are the key narratives this cycle. The Real World Asset (RWA) tokenization narrative gathered steam with BlackRock’s tokenized asset fund launch on Ethereum in March 2024.
These cryptocurrencies could face selling pressure according to an analyst: STRK, ENA, OMNI, JUP, ONDO
Thor Hartvigsen, investor at Heartcore Capital and a crypto analyst has identified a list of cryptocurrencies that are expected to see a massive increase in their supply. Typically, an increase in selling pressure negatively impacts an asset’s price.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.