With the SEC v. Ripple lawsuit approaching a critical stage, prominent XRP community figure Zach Rector outlines three events he is anticipating if none of the parties appeal.
According to Rector, the multi-year lawsuit is in the grand finale stage, with an appeal window closing in less than two weeks, specifically on October 7.
Rector pointed out that the longstanding legal battle will officially come to an end if neither the SEC nor Ripple files an appeal notice on or before the appeal window closes.
3 Upcoming Events
With the lawsuit nearing its conclusion, Rector highlighted three major events that could happen between now and the upcoming Ripple Swell conference.
For context, the 2024 edition of the Ripple Swell conference is scheduled for October 14 – 16 in Faena District, Miami Beach, Florida, United States.
The upcoming event boasts an impressive lineup of speakers, including Ripple CEO Brad Garlinghouse, Coinbase CSO Philip Martin, NYDFS Superintendent Adrienne Harris, Moonpay CEO Ivan Soto-Wright, Bloomberg ETF Analyst Eric Balchunas, and Archax CEO Graham Rodford.
Ripple Stablecoin
Rector expects Ripple to launch its highly anticipated stablecoin (RLUSD) between now and the Swell conference. It bears mentioning that Ripple has made significant progress towards the mainnet launch of the stablecoin.
The #XRP Lawsuit Grand Finale
😎🍿⚖️🇺🇸 pic.twitter.com/ASHF3WUqds— Zach Rector (@ZachRector7) September 23, 2024
The USD-pegged stablecoin is currently in beta testing on both the XRP Ledger and Ethereum networks. Upon its mainnet launch, the stablecoin will be made available for everyone, including retail clients.
XRP ETF
Additionally, Rector speculated that he expects a potential XRP ETF announcement at the Ripple Swell conference. Since the SEC approved the launch of spot-based ETFs for Bitcoin and Ethereum, there have been speculations that top asset managers could also launch a similar product for XRP.
This speculation soared recently after Grayscale launched the XRP Trust, a closed-end fund expected to transform into a spot-based crypto ETF. Nonetheless, the ongoing lawsuit between the SEC and Ripple poses regulatory challenges for XRP.
With the lawsuit expected to end if none of the parties appeal before the October 7 deadline, top asset managers could apply with the SEC to launch an ETF tied to XRP. However, this remains speculative.
Partnerships Centered on Tokenization
Furthermore, the popular XRP community figure disclosed that Ripple could make other significant announcements during the Ripple Swell conference, including key partnerships centered around tokenization on XRPL.
He noted that Rodford, one of the conference’s speakers, made bold projections earlier this year, forecasting that the world could see between $30 and $50 trillion worth of assets tokenized on the XRPL.
The broader XRP community is currently focused on updates about the SEC v. Ripple lawsuit. An appeal would prolong the legal uncertainty. However, if none of the parties appeal before the deadline expires, it would mark the end of the lawsuit, potentially paving the way for more adoption.
