Ripple President Monica Long Explains the Company's Future Strategies Despite the Ongoing Legal Case

RLUSD is aimed at complementing rather than competing with XRP. RLUSD is expected to facilitate growth in DeFi applications and institutional adoption.

Ripple's president, Monica Long, recently shared her insights on the company's strategies and future plans amid its ongoing legal battle with the SEC. Here's a summary of her key statements:

On RLUSD's significance:

Monica highlighted the importance of RLUSD, a stablecoin pegged to the US dollar, in complementing XRP rather than competing with it. She mentioned that RLUSD is designed to spur growth in DeFi applications and institutional adoption, especially with Ripple's acquisition of Standard Custody, which will handle RLUSD's reserve.

Regarding real-world assets (RWAs):

Ripple has been actively involved in tokenizing RWAs on the XRP Ledger, an initiative that has attracted the attention of major financial institutions like BlackRock and JPMorgan. This venture is bolstering confidence in Ripple's technology among Wall Street giants.

Bullish on XRP ETFs:

Monica expressed optimism about the potential for an XRP ETF, given the regulatory clarity that both XRP and Bitcoin enjoy in the US. She noted that this positions XRP favorably for broader institutional adoption, contrasting with Ripple's ongoing legal tensions with the SEC over past issues.

Ripple's CLO on SEC's fines:

In a separate development, Ripple's Chief Legal Officer, Stuart Alderoty, criticized the SEC's handling of the case, particularly its demand for fines amounting to $2 billion. He asserted that this reflects misplaced priorities and obstacles to Ripple's business growth.

The outcome of the legal proceedings, especially Judge Torres' impending verdict on penalties, expected in July, will have a profound impact on Ripple and XRP's future trajectory.

XRP's market performance:

Despite these strategic moves and regulatory challenges, XRP's market performance has been relatively stagnant, trading at around $0.473 with low trading volumes and fading investor interest.

The recent market downturn, led by Bitcoin's 7.45% drop over the past week, has also affected XRP. It lost 6.3% of its value in the same period, currently priced at $0.4762 with a slight daily increase of 0.11%. Year-to-date, XRP is down 23.1%, reflecting the overall negative market sentiment. The XRP bloodbath can also be attributed to the ongoing uncertainty surrounding the lawsuit and its potential outcomes.

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