XRP has started garnering interest in the market as the SEC has just a few days left within which it can file an appeal against the latest judicial ruling. The Ripple firm is also preparing to undergo a busy month as it prepares for its annual Swell conference held in the month of October.
However, Rector claims that the multi-year litigation is nearing its dramatic climax, with less than two weeks left to file an appeal. Rector said that if neither the SEC nor Ripple submits an appeal notice on or before the appeal window ends, the protracted legal dispute would formally cease.
Launching The Stablecoin Before Swell Conference
Rector outlined three significant developments that may occur between now and the April Ripple Swell meeting, as the case draws to a close.
The Ripple Swell Conference is an annual event that brings together prominent blockchain and financial executives from across the world. This conference started in 2019 and has grown both in terms of focus and importance since its first inception in 2017. The Swell Conference this year is scheduled for October 15–16 in Miami, Florida.
This platform seeks to bring together careful and in-depth discourses in the management and development of cryptocurrencies. It is also about exploring their application in world trade. Attendees can anticipate lively conversations regarding XRP acceptance, and blockchain developments.
Rector anticipates Ripple will issue its much-anticipated stablecoin (RLUSD) between now and the Swell conference. It is important to note that Ripple has made great strides towards launching the stablecoin on the mainnet.
Currently, the XRP Ledger and Ethereum networks are hosting beta testing for the USD-pegged stablecoin. The stablecoin will be accessible to all users, including retail clients, upon mainnet deployment.
Anticipation Of An XRP ETF
Rector also hinted that he anticipates an announcement about a possible XRP ETF during the Ripple Swell conference. Top asset managers may introduce a comparable offering for XRP, according to rumors that have been circulating since the SEC allowed the introduction of spot-based ETFs for Bitcoin and Ethereum.
A Spot XRP ETF may be debuting shortly as Grayscale’s XRP Trust gains traction. More than anything, the market is becoming enthusiastic about the prospect of an XRP Spot ETF. Given the success of XRP Trust’s introduction, Greyscale could be getting ready to advocate for an ETF. As a result, XRP would be easier to obtain and keep investors.
The price and the acceptance of XRP will increase considerably when an XRP ETF is launched into the market. Leading asset management firms may soon apply to the SEC to list a new ETF associated with the XRP token. In the event that neither of the parties file an appeal before October 7, the trial is expected to end.
Additionally, the XRP figure said that Ripple may make further big announcements during the Ripple Swell conference, such as crucial partnerships focused on tokenization on XRPL.
He mentioned that Rodford, one of the conference presenters, made ambitious estimates earlier this year, predicting that the world might see between $30 and $50 trillion in assets tokenized on the XRPL.
