Ripple (XRP) News Today: March 28th

Ripple and its native token – XRP – remain among the hottest topics in the crypto space. Check out the most recent developments in the Ripple environment.

Ripple secures additional support

The firm’s native cryptocurrency has become the subject of renewed support from various cryptocurrency exchanges ever since Ripple’s partial court win against the US SEC in the summer of 2023. Some of the platforms re-listing XRP in the past few years include Coinbase, Kraken, Crypto.com, Gemini, and more. 

Earlier this week, the well-known brokerage firm – Interactive Brokers – also enabled trading services with the asset. 

In addition to XRP, the company also embraced Solana (SOL), Dogecoin (DOGE), and Cardano (ADA). 

The lawsuit is over

As mentioned above, the legal tussle between Ripple and the US Securities and Exchange Commission (SEC) reached a pivotal point in 2023. In the following years, the company secured additional court victories before finally triumphing earlier this month.

Ripple’s CEO Brad Garlinghouse announced in mid-March that the SEC had dropped its appeal, describing the effort as the official end of the lawsuit. Some legal experts, though, reminded that the company was previously slammed with a $125 million fine, and the battle will not conclude until it settles the amount or appeals the ruling.

Earlier this week, the chief legal officer, Stuart Alderoty, said the firm will withdraw its cross-appeal and pay a penalty of $50 million (instead of the previously ruled $125 million), potentially marking the case’s final resolution.

The $50 million is already in an interest-bearing account, while the remaining amount will be returned to Ripple, he said.

ETF to follow next?

With the legal battle seemingly already in history, all eyes are now on the potential launch of a spot XRP ETF in the United States. The renowned companies that have displayed their intentions to introduce such a product include Grayscale, Bitwise, 21Shares, and more.

Meanwhile, Nate Geraci, a well-regarded ETF analyst, believes BlackRock and Fidelity may also join the race to become the first entity to introduce that type of investment vehicle in America. 

“Seems obvious spot XRP ETF approval simply matter of time IMO. And yes, I expect BlackRock, Fidelity, etc to all be involved,” he recently said.

According to Polymarket, the odds of such a product to see the light of day before 2025 stand at around 85%.

Ripple’s integration 

As CryptoPotato reported, the company recently integrated the new oracle service platform – Lumina – into the XRP Ledger (XRPL) to enhance data transparency across DeFi, real-world assets (RWAs), and Web3 applications.

Built on the Decentralized Information Asset framework, Lumina went live on March 26 and aims to replace traditional “black-box” oracles with fully on-chain infrastructure.

The platform’s core engine is Lasernet, a layer-2 rollup built on Arbitrum and Ethereum, designed to deliver fully transparent and verifiable oracle data. Ripple sees this setup as essential for advancing the real-world assets (RWA) space, moving away from the systems used by oracles like Chainlink and Pyth.

XRP price predictions

XRP recorded a solid (yet quite brief) price spike following Garlinghouse’s disclosure. Since then, it experienced enhanced volatility and eventually plunged to the current $2.22. 

Some market observers believe the asset could resume its bull run, but such progress would depend on certain factors. The popular X user Ali Martinez thinks XRP needs to surge past $3 to “invalidate the current head-and-shoulders pattern, potentially flipping the outlook bullish.”

Dark Defender is among the biggest optimists. The analyst suggested that Ripple’s cross-border token has formed “a great bullish rectangle pattern,” hovering between $1.90 and almost $3.40 in the last several months. 

“The consolidation will be over very soon. The next leg will welcome new all-time highs,” they forecasted.

The post Ripple (XRP) News Today: March 28th appeared first on CryptoPotato.