Ripple plans to launch a stablecoin, Ripple USD , in 2024 on the XRP Ledger and Ethereum, despite SEC’s criticism.One of Ripple’s latest developments is its upcoming stablecoin pegged to the American dollar, which should serve as a bridge between traditional finance and the crypto industry.Despite not being live yet, the stablecoin has already received criticism from the United States Securities and Exchange Commission whichThe agency and Ripple have been confronting for years.
The case recently entered its trial phase, with the SEC seeking a $2 billion fine on Ripple. The company did not welcome the idea,that its penalty should not exceed $10 million. One of its main arguments is that there are no direct allegations of fraud in the case. Those willing to dive deeper and learn more about the legal spat between the entities, please check our dedicated video below:The native token of Ripple is deep in the red on a weekly scale, currently trading at around $0.47. Still, analysts like the X user EGRAG CRYPTO remain unfazed, viewing the ongoing level as a buying opportunity.the Relative Strength Index , which reached low points over the past several days.
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