Institutional investors, asset managers and banks are racing to bring financial assets on-chain in a market estimated to grow to $16 trillion in value.
Ripple News
Established in 2012 under the name OpenCoin, Ripple Labs is the software corporation responsible for creating the XRP (XRP) cryptocurrency and its accompanying distributed ledger technology (DLT), the XRP Ledger. In addition, the company has crafted a collection of payment protocols, such as RippleNet, which are designed to optimize cross-border transactions for financial entities. RippleNet serves as a counterpart to the traditional SWIFT system, aiming to revolutionize and accelerate international money transfers by leveraging blockchain technology.
Initially featuring distinct services (xCurrent for bank payments, xRapid for liquidity via XRP and xVia for API integration), RippleNet consolidated these offerings in 2019. This strategic unification aimed to broaden XRP’s application in fund transfers under a single, cohesive RippleNet banner. Ripple’s XRP Ledger is the open-source DLT that provides cryptographically secure, verifiable settlement of the XRP currency. The XRP Ledger is not part of Ripple’s suite of proprietary software products, as it is accessible and open to all.
In 2020, the United States Securities and Exchange Commission filed a lawsuit against Ripple and its executives, Brad Garlinghouse and Christian Larsen, which accused it of conducting unregistered securities offerings worth over $1.3 billion via XRP sales. However, in July 2023, Ripple secured a partial victory when U.S. District Judge Analisa Torres ruled that XRP sales on public exchanges did not constitute unregistered securities offerings.
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The Ripple stablecoin would help attract more institutional participants into the crypto ecosystem and help establish robust regulatory controls.
Ripple expects the stablecoin market to surpass $2 trillion by 2028 and aims to compete with Circle’s USDC and Tether USDT.
9589XRP price is falling with the wider crypto market, led by diminishing hopes for three rate cuts in 2024 and persistent whale distribution.
2951Ripple helped build an ecosystem automated market maker protocol in close partnership with the XRP Ledger blockchain community.
16005Blockchain and crypto have a place in a partnered remittance ecosystem in Latin America, the financial services giant found.
6406The SEC’s filing on a proposed $1.95 billion in fines and penalties for Ripple suggested the firm needed an incentive to stop violating laws beyond “just the cost of doing business.”
8357Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty cited a judge imposing sanctions on the SEC in a lawsuit against Debt Box, claiming the regulator exceeded its authority.
6409Due to the continuing technical issue, RippleX has recommended its users no longer deposit funds into the affected AMM pools.
13691XRP's price has gained over 11.50% in the past 24 hours amid large withdrawals from crypto exchanges.
2528XRP’s price is trailing the broader crypto market’s gains, but fractal analysis suggests it may soon gather upward momentum.
11272The Securities and Exchange Commission has requested an extension to the deadline to file remedies-related discovery documents submitted by Ripple.
25484The partnership between Ripple and Axelar is part of a strategic move into tokenizing real-world assets.
8811Ladan Stewart was one of the attorneys of record in the SEC’s enforcement action against Ripple but withdrew from the case in January.
1981Ripple CEO Brad Garlinghouse said that “it only makes sense” to have different ETFs, as investors would want to diversify their risks.
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