Category: Forex News

XRP News Today: XRP Touches $0.65 Amid XRP Ledger Upgrade Buzz

By Published On: March 3, 20241.2 min readViews: 2560 Comments on XRP News Today: XRP Touches $0.65 Amid XRP Ledger Upgrade Buzz

With Ripple looking to cement a position in the US, the conclusion to the case could be a boon for Ripple and XRP. In February 2024, Ripple Senior Director of Product Marketing – Payments alerted the crypto market of Ripple’s renewed interest in the US, saying,

“Building: 90% of our business is outside the United States. After being relatively quiet for the past 3 years in the US for Ripple Payments, we’re geared up to announce new product updates powered by our money transmitter licenses (MTLs) that cover the majority of US states.”

SEC v Ripple: Penalties and Appeals

Product development remains a focal point for investors. However, the SEC v Ripple case could have more impact. The immediate focus will be on the penalty for failing to register XRP as a security in sales to US institutional investors.

The SEC and Ripple must file remedy-related briefs by March 22 and April 22, respectively. The SEC must file its reply brief by May 6, after which time Judge Analisa Torres will decide on the penalty for breaching Section 5 of the US Securities Act.

While the size of the penalty will draw interest, SEC plans to appeal against the Programmatic Sales of XRP ruling remain the focal point. However, SEC plans to appeal against the Programmatic Sales of XRP ruling could be at risk.

Recent activity in the US courts and an ongoing investigation into conflicts of interest within the SEC have allayed concerns about an appeal.

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