menuIcon
$ 108,533.1
BTC
$ 108,533.1
-2.76 %
$ 2,550.69
ETH
$ 2,550.69
-4.03 %
$ 0.7757
ADA
$ 0.7757
-3.64 %
$ 665.19
BNB
$ 665.19
-3.24 %
$ 178.06
SOL
$ 178.06
-0.36 %
Sujit Kumar
Sep 21, 2024
by Sujit Kumar

Ripple’s October Momentum: Swell Conference, XRP Trust, and Stablecoin Developments

Ripple’s October Momentum
Ripple is gearing up for an eventful October, with its annual Swell conference set to take place in Miami on October 15-16. The conference, which gathers top blockchain and financial leaders, has grown in significance since its inception in 2017. This year, discussions will center on cryptocurrency trends, XRP adoption, and its role in reshaping global finance. The Swell event offers a platform for crucial conversations on blockchain’s future.

Grayscale’s XRP Trust Gains Traction

Grayscale’s recent launch of its XRP Trust on September 12 has created a buzz in the market. The fund allows accredited investors to gain XRP exposure through private placements. With $707,080.54 in assets under management as of September 20, the trust’s net asset value per share surged from $140.31 to $11.49 in just a few weeks. The possibility of Grayscale launching a Spot XRP ETF further fuels excitement, as such an ETF could significantly boost XRP’s adoption and price by making it more accessible to retail investors.

Ripple’s Stablecoin on the Horizon

Ripple is also making waves with its upcoming stablecoin, Ripple USD (RLUSD), currently in beta testing. Backed 1:1 by the US dollar and supported by cash reserves and short-term U.S. government treasuries, RLUSD aims to enhance liquidity on the XRP ledger. This could pave the way for new cross-border payment use cases, further solidifying Ripple’s position in the crypto market.

Countdown to SEC Appeal

The SEC has just 16 days to appeal a recent court ruling in favor of Ripple, where the company was fined $125 million instead of the $2 billion originally sought by the SEC. While many believe the SEC will not appeal, the uncertainty keeps some tension in the community as an appeal could prolong the case into 2025.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Follow us on: News
Ripple’s October Momentum
Ripple’s October Momentum: Swell Conference, XRP Trust, and Stablecoin Developments
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

Top Picks