XRP has gained 40% in recent days and reached a 2024 high of $0.84. Although a correction from this level has occurred, XRP is still trading up 18% at the time of writing. The price, which was previously at $0.68, experienced a remarkable recovery in a short time.
SEC Case: Impact of Legal Process on XRP
Ripple 
$0.706883 While the lawsuit between the US Securities and Exchange Commission (SEC) and the US Securities and Exchange Commission (SEC) continues, this rise in the price of XRP has been positively received by the community. The negative effects of litigation were felt in the previous bull market. However, the latest activity has given new hope to investors.
The SEC alleges that Ripple and its executives violated federal securities laws. Both Ripple and the SEC have appealed the court decision. While the legal process continues, the XRP community is eagerly awaiting the outcome of the case. Legal expert MetaLawMan stated that every XRP owner is an indirect victim of this case.
Societe Generale and EURCV Stablecoin Initiative
French financial giant Societe Generale announced that it will integrate its stablecoin called EURCV into the XRP Ledger. It is thought that this step will increase the usage areas of XRP and strengthen its attractiveness in the market. Speaking on behalf of the bank’s digital asset unit, Guillaume Chatain praised the fast and low-cost nature of XRP Ledger.
Compliance with MiCA Regulations and Security
The EURCV stablecoin was developed in full compliance with the European Union’s MiCA rules governing crypto asset markets. While this increases investor confidence, it also provides important assurance for regulatory institutions.
On the other hand, Tether (USDT), one of the other major stablecoins of the market, has not yet reached MiCA compatibility. However, USDC and EURC stablecoins developed by Circle complied with these criteria. MiCA compliance ensures that projects that comply with European regulations stand out.
XRP’s price increase despite the lawsuit process can be an example for other projects in the crypto market. Societe Generale’s stablecoin project on XRP Ledger is an important development that can increase the use of this platform. All these steps present a positive picture about the future of XRP and attract the attention of investors.
Recent developments continue to stimulate market dynamics. Whether XRP can maintain this momentum will depend on both litigation and market conditions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
