Ripple, despite its ongoing legal battle with the SEC, has announced its plans to launch a stablecoin that will rival Tether and CENTER, with a goal of reaching a staggering $3 trillion market capitalization by 2028.
Although the price of XRP has experienced a slight decline, there is a strong belief that Ripple’s new stablecoin will drive both XRP and the CTF token to unprecedented levels of success.
For the past four years, Ripple has been entangled in a complex legal dispute with the SEC, and unfortunately, there seems to be no resolution in sight. These ongoing conflicts have hindered Ripple’s growth and innovation potential, significantly impacting the value of its native token, XRP.
According to the latest data from CoinMarketCap, the current price of XRP stands at $0.5159, reflecting a 1.06% decrease in the last 24 hours and a modest 0.54% decrease in the past week.
In an attempt to overcome the limitations imposed by its legal battles, Ripple recently announced its intention to introduce a stablecoin that is pegged to the US dollar. This move is a direct response to market leaders like Tether and CENTER, a partnership between Coinbase and Circle.
Ripple’s CEO, Brad Garlinghouse, stated that the stablecoin is designed to address the issue of de-pegging incidents that have previously resulted in significant losses for stablecoin holders.
However, the SEC has raised objections to Ripple’s stablecoin aspirations, labeling it as an unregistered securities offering, similar to XRP. The regulatory authority maintains a firm stance, asserting that Ripple has primarily sold unregistered securities since 2013.
Despite the legal complications, investors are becoming increasingly optimistic due to Ripple’s ambitious goal of achieving a $3 trillion valuation for their stablecoin by 2028, as reported by CNF. Notably, prominent XRP advocate Brett Hill predicts that the price of XRP could soar to $62.75 if this target is reached.
Additionally, if the CTF token, the leading defi token on XRPL, manages to capture just $10 billion from the anticipated inflows into XRPL, experts anticipate a significant surge, potentially driving its value from $0.95 to $374.25 per token.
There have been indications from pro-XRP lawyer MetaLawMan that Judge Torres may overturn the SEC’s $2 billion penalty against Ripple’s Brad Garlinghouse, as mentioned in a previous report by Crypto News Flash.
To learn more about Ripple (XRP), consider reading our recommended guides on purchasing XRP, setting up a Ripple XRP wallet, and checking the 24-hour XRP price. You can also find additional news and information about Ripple (XRP) on our platform.