Ripple coin. Credit: Jievani, Shutterstock
Ripple announced in a press release on August 7 that the company has struck a $200 million deal to acquire Rail – the stablecoin-powered platform for global payments. On the same day, the U.S. SEC dropped its lawsuit against Ripple.
Ripple acquires Rail for $200 million
This acquisition will strengthen Ripple’s position as the leader in digital asset payment infrastructure. Ripple Payments provides a broad payout network, market-leading digital asset liquidity, and a set of more than 60 licenses for managing customers’ payment flows in a compliant manner. Rail expands Ripple’s capabilities with virtual accounts and automated back-office infrastructure, easing operations.
Monica Long, Ripple’s President, said, “Stablecoins are quickly becoming a cornerstone of modern finance, and with Rail, we are uniquely positioned to drive the next phase of innovation and adoption of stablecoins and blockchain in global payments.
Ripple has one of the most widely used digital asset payment networks in the world, and this acquisition underscores our commitment to helping our global customer base to move money wherever and whenever they need.”
Bhanu Kohli, Rail’s CEO, said, “Over the last four years, Rail built the fastest way to settle business payments internationally using stablecoins, and in 2025, Rail is forecasted to process over 10% of the $36B global B2B stablecoin payments. Ripple shares our vision, and together, we’re excited to bring our innovation to the millions of businesses that move money internationally.”
SEC case dropped against Ripple
On August 7, The United States Securities and Exchange Commission announced the conclusion of its case against Ripple Labs. The SEC sued Ripple in December 2020, towards the end of US President Donald Trump’s first term, accusing the company of selling XRP tokens without registering them as securities.
The SEC released a statement saying, ‘The Securities and Exchange Commission today filed a Joint Stipulation of Dismissal entered into with defendants Ripple Labs, Inc., Bradley Garlinghouse, and Christian A. Larsen (“Defendants”) that dismisses the Commission’s appeal and Ripple’s cross-appeal pending in the United States Court of Appeals for the Second Circuit, and resolves the Commission’s civil enforcement action against Defendants.
Those cross-appeals followed a final judgment by the district court that imposed a $125,035,150 civil penalty against Ripple and an injunction prohibiting Ripple from violating the registration provisions of the Securities Act of 1933. Following the dismissal of the cross-appeals, that final judgment will remain in effect.’
What does this mean for the price of XRP?
XRP is currently the third-largest cryptocurrency by market value, behind Bitcoin and Ethereum. According to Tradingguro on Binance, the price outlook for XRP is as follows:
Right now, XRP is holding steady above the important $2.90 level. If it stays above that, it’s seen as a good area to buy – anywhere between $2.90 and $3.00. But if it drops below $2.90, the next support zones are around $2.75 and then $2.55–$2.62.
The first major price challenge is at $3.35–$3.40. If XRP can close above $3.40, it could head towards $3.47, and possibly even $3.80–$4.30 if the momentum stays strong.
XRP viral gossip
XRP has long been at the centre of viral crypto chatter, with die-hard supporters pointing to everything from The Simpsons apparently predicting a price of $589, to bold and controversial headlines in Forbes speculating astronomical growth. An alleged Forbes article once claimed XRP could hit $59,472 but was supposedly deleted soon after. These claims have added fuel to the fire with bullish predictions and deep dives into Ripple’s potential partnerships with global banks. Whether viewed as realistic or pure speculation, the hype has helped keep XRP in the spotlight, despite ongoing legal battles and market volatility.
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