Ripple (XRP) traded above $0.5400 early Monday, gaining over 2% ahead of the Ripple Swell 2024, held in Miami, Florida. The event focused on Ripple’s latest developments and technology and is closely watched by XRP holders for potential updates on the Ripple USD (RUSD) stablecoin and the firm’s custody solutions.
The event, running from today to October 16, brings together key figures from both the crypto and traditional finance sectors. Ripple has showcased its readiness with a video highlighting the venue’s setup, featuring a sleek stage and lighting. CEO Brad Garlinghouse has welcomed guests as the conference officially kicks off today.
Key Sessions and Speakers
This year marks the 8th edition of Ripple Swell, where experts will discuss vital topics such as stablecoins, tokenization, and crypto ETFs. Notable speakers include Garlinghouse, former FDIC Chair Sheila Bair, Coinbase’s CSO Philip Martin, and others. One highly anticipated session is a fireside chat featuring Ripple’s Chief Legal Officer Stuart Alderoty and NYDFS Superintendent Adrienne Harris, which will dive into regulatory trends.
Will Ripple Announce RLUSD Stablecoin Launch?
XRP holders are eagerly awaiting updates, particularly on Ripple’s RLUSD stablecoin, which has been in private beta since August on Ethereum and XRPL. Though millions of RLUSD tokens have been minted, Ripple has yet to announce an official launch date for the stablecoin. Whether this information will be revealed at Ripple Swell remains uncertain, but hopes are high for significant announcements during the event.
This conference is expected to set the stage for new partnerships and innovations, potentially driving further adoption of XRP.
XRP Price Current Market Scenario
XRP holders are anticipating updates on the stablecoin RUSD’s launch, new digital asset custody partnerships, and Ripple executives’ response to the SEC’s recent appeal in their ongoing lawsuit. Ripple countered the SEC’s appeal, with its Chief Legal Officer and CEO criticizing the regulator’s crypto approach.
Technically, XRP has been in an upward trend since July 2024, targeting a rise to $0.60 but faces resistance between $0.5778 and $0.5445. A correction could see support at $0.5188 or $0.5068. The court has ruled XRP as a security for institutional transactions but not for retail sales.
With a lot at stake this year is crucial for XRP to gain the lost investor faith, do you agree?
