Ripple president Monica Long recently addressed the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC), along with other key developments for the company and its XRP token.
Following a district court decision that categorized XRP as not a security, Long expressed optimism. This legal clarity, she says, allows Ripple to focus on expanding its reach and exploring new use cases for XRP.
However, Long acknowledges the SEC’s continued pressure on the crypto industry, hindering the growth of blockchain technology in the U.S. Despite these challenges, Ripple has seen success in various areas, including boosting its payments infrastructure, the XRP Ledger, and custody services through Metaco. Recent partnerships with banks and financial institutions further solidify this progress.
Looking ahead, the introduction of the RLUSD stablecoin presents a strategic advantage for Ripple, offering entry into markets with lower liquidity. Importantly, Long emphasizes that RLUSD will complement XRP, not compete with it, by driving adoption through DeFi (Decentralized Finance) and institutional investment. Standard Custody, acquired by Ripple earlier this year, will manage the reserve for RLUSD.
Ripple’s infrastructure for RWA (Real-World Asset) tokenization is another promising development. The company recently expanded its collaboration with Archax, aiming to bring hundreds of millions of dollars in tokenized real-world assets onto the XRP Ledger. This technology is gaining traction, attracting interest from major financial institutions like BlackRock, JPMorgan, and Goldman Sachs.
Long remains optimistic about the potential launch of XRP exchange-traded funds (ETFs). With XRP and Bitcoin being the only crypto assets with clear regulatory stances from the US government, she believes issuers will be more likely to file for XRP ETFs.
The Ripple vs. SEC lawsuit is nearing its final stages. Ripple’s Chief Legal Officer, Stuart Alderoty, urged the SEC to drop its $2 billion fine demand, citing bad faith and a grudge against Ripple’s success. Legal experts anticipate the SEC may not appeal Judge Torres’ summary judgment. The crypto community awaits her verdict on penalties and the final ruling, expected in July.
Meanwhile, the XRP price remains under $0.48, with a lack of clear direction due to ongoing uncertainty and a bearish market. The 24-hour trading volume decline suggests traders’ hesitation. However, with key developments and a potential legal victory on the horizon, Ripple appears confident in its future and bullish on XRP’s long-term prospects.
