The Securities and Exchange Commission is asking an appeals court to rule that XRP tokens sold to retail investors were unregistered securities as it continues its years-long case against Ripple Labs.
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“This is even more personal after Gensler’s SEC effectively froze our business opportunities here at home for years,” the CEO wrote.
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Bitcoin’s 2024 returns were doubled by the XRP token, following a significant legal victory for Ripple Labs and expectations of the SEC potentially dropping the lawsuit.
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RLUSD, a stablecoin by Ripple Labs, is pegged to the US dollar, ensuring a 1:1 value backed by cash or equivalents.
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One trader has set a $1,200 bid for one RLUSD, an early warning sign there could be massive volatility when Ripple’s RLUSD stablecoin launches.
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The Ripple CEO said the RLUSD listing would “be live soon” on exchanges after the New York Department of Financial Services approved the stablecoin.
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According to CoinMarketCap, Ripple’s native XRP token has a maximum supply of 100 billion and a circulating supply of roughly 57 billion.
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In a recent Joe Rogan interview, Mark Andreesen revealed that the debanking of tech firms caused the Silicon Valley shift toward Trump.
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According to data from CoinGecko, the total stablecoin market capitalization is over $196 billion as of Nov. 29.
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XRP price corrects after a 56% pump to three-year highs above $1.26 as retail traders book profits and tokens move to exchanges en masse.
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