Recent Major ripple Developments and Best XRP Price Predictions
TL;DR
- Ripple plans to launch Ripple USD (RLUSD), a stablecoin on XRP Ledger and Ethereum, in 2024 despite criticism from the SEC.
- Meanwhile, the price of XRP has fallen, but some analysts see the current level as a buying opportunity.
One of Ripple’s latest developments is its upcoming stablecoin pegged to the US dollar, which should act as a bridge between traditional finance and the crypto industry.
The company announced earlier this week aforementioned IT request It will be called Ripple USD (code RLUSD) and request XRP will be available on Ledger and Ethereum. launch planned for 2024, but the exact date is unknown.
Although it has not yet gone live, the stablecoin has already received criticism from the United States Securities and Exchange Commission (SEC). in the name “It is an unregistered crypto asset.“
The agency and Ripple have been at odds for years. Those who have been following the development of the crypto industry over the past few years should be aware of the lawsuit between the two organizations, which focuses on allegations that the firm conducted an unregistered securities offering by selling the XRP token.
The case recently entered the trial phase, and the SEC demanded a $2 billion fine against Ripple. The company was not keen on this idea to suggest The fine should not exceed $10 million. One of the main arguments is that there is no direct allegation of fraud in the case.
For those who want to dig deeper and learn more about legal disputes between organizations, please check out our exclusive video below:
XRP Price Outlook
The native Ripple token is deep in the red on the weekly scale and is currently trading around $0.47. Yet analysts like X user EGRAG CRYPTO remain unimpressed and see the continued level as a buying opportunity.
Merchant mentioned on The Relative Strength Index (RSI) has reached low points in the last few days. Current rate stands While it was 42 last week, it fell below 25.
The XRP RSI measures the speed and variation of price movements and can suggest the asset’s next potential move. A ratio above 70 signals that the token may be overbought, meaning a correction may be imminent.
Before Matthew Dixon predicted that XRP’s valuation could deteriorate if inflation increases in the US. However, the rate was lower than expected and adverb the price rose to almost $0.50. However, after a short time this immersed There was an increase again after the US Federal Reserve decided not to change interest rates.
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