{"id":66033,"date":"2025-05-13T14:48:16","date_gmt":"2025-05-13T14:48:16","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=66033"},"modified":"2025-05-13T14:48:16","modified_gmt":"2025-05-13T14:48:16","slug":"ripple-xrp-news-may-13th","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=66033","title":{"rendered":"Ripple (XRP) News: May 13th"},"content":{"rendered":"

The past few weeks have been quite eventful for Ripple and its native token, XRP. In this article, we\u2019ll review the most recent updates and analyze the asset\u2019s price dynamics.\u00a0<\/span><\/p>\n

Is the Legal Battle Against the SEC Over?<\/span><\/h2>\n

The lawsuit between Ripple and the US Securities and Exchange Commission (SEC) has been among the hottest topics in the crypto industry for years. <\/span>Over the past several months <\/span>there were numerous developments which<\/span> brought the case closer to its long-anticipated final.<\/span>\u00a0<\/span><\/p>\n

Long story short, in March, Ripple\u2019s CEO <\/span>claimed<\/span><\/a> that the SEC had dropped the appeal against the company. Earlier this month, the two sides <\/span>shook hands<\/span><\/a> on a $50 million settlement, which would mean the official end of the tussle if the judge on the case approves it.\u00a0<\/span><\/p>\n

This<\/span> represents a significant reduction from the $125 million fine <\/span>that <\/span>Ripple<\/span> was previously ordered<\/span> to pay for allegedly breaking <\/span>certain<\/span> securities laws.\u00a0<\/span><\/p>\n

The XRP Army celebrated the latest move, but some <\/span>members of the agency <\/span>seemed unhappy. SEC Commissioner Caroline Crenshaw, for instance, <\/span>argued<\/span><\/a> that this ruling undermines the previous one and discredits the watchdog\u2019s enforcement program.\u00a0\u00a0<\/span><\/p>\n

\u201cThe settlement joins a line of dismissals that collectively erode the credibility of our lawyers in court who are <\/span>being asked<\/span> to take legal positions today contrary to the ones taken just months ago. And it stands in defiant contravention of the doctrine of (the) regularity of government affairs,\u201d she added.<\/span><\/p>\n

XRP ETF on the Way?<\/span><\/h2>\n

The introduction of<\/span> the first spot XRP exchange-traded fund (ETF) in the United States has been a mission for multiple well-known companies, including Grayscale, 21Shares, Bitwise, WisdomTree, and others.\u00a0<\/span><\/p>\n

Not long ago,<\/span> the SEC <\/span>delayed<\/span><\/a> its decision on Bitwise\u2019s application, extending the period to June 17.<\/span> The community has now <\/span>shifted<\/span><\/a> its attention toward July 2, which marks the final deadline for the SEC\u2019s decision on Grayscale\u2019s proposal to convert its Digital Large Cap Fund (GDLC), which includes XRP, among other cryptocurrencies, into a spot ETF.<\/span><\/p>\n

The launch of such a financial vehicle will give investors additional options to gain exposure to Ripple\u2019s cross-border token,\u00a0<\/span>which might positively impact its price.\u00a0According<\/a> to Polymarket, the odds of the product seeing<\/span>\u00a0the light of day before the end of the year are close to 80%.<\/span><\/p>\n

While a spot version is still not live in the US, Teucrium and ProShares recently <\/span>received<\/span><\/a> the green light to launch futures-based XRP ETFs in the world\u2019s biggest economy. Those curious to check all developments on that front can <\/span>take a<\/span> look at our detailed article <\/span>here<\/span><\/a>.\u00a0<\/span><\/p>\n

RLUSD Gains Traction<\/span><\/h2>\n

Ripple made the headlines last year when it announced its plans to design a stablecoin pegged 1:1 to the American dollar. The product, dubbed RLUSD, <\/span>went live<\/span><\/a> in mid-December and was initially embraced by leading crypto exchanges such as Uphold, Bitso, Bitstamp, Moonpay, and more.\u00a0<\/span><\/p>\n

In the following months, other popular industry players followed suit. For instance, Kraken <\/span>allowed<\/span><\/a> trading services with RLUSD in April.\u00a0<\/span><\/p>\n

Most recently, the US-based Gemini also hopped on the bandwagon<\/span>. The<\/span> exchange, led by the Winklevoss twins, <\/span>enabled<\/span><\/a> deposits and withdrawals approximately a week ago.\u00a0<\/span><\/p>\n

While RLUSD has made some serious progress in recent months, it still lags behind the big names in the niche. As of this writing, it has a market capitalization of just north of $315 million, while the leaders, USDT and USDC, have $150 billion and $60 billion, respectively.\u00a0<\/span><\/p>\n

XRP Price Outlook<\/span><\/h2>\n

Ripple\u2019s native cryptocurrency was at the forefront of gains yesterday (May 12), with its price <\/span>soaring<\/span><\/a> to a two-month peak of almost $2.70. In the following hours, it retraced to the current $2.54 (per CoinGecko\u2019s data).<\/span><\/p>\n

Its impressive surge caught the eye of multiple analysts, some of whom envisioned a further upswing in the short term. The X user, Captain Faibik, <\/span>predicted<\/span><\/a> a pump to $5, citing a falling wedge pattern breakout.\u00a0<\/span><\/p>\n

Crypto Patel <\/span>reminded<\/span><\/a> that<\/span> XRP has surpassed the $2 support zone. \u201cIf price holds above this level, we could see a move toward $3.28 and eventually $10+,\u201d they added.\u00a0<\/span><\/p>\n

Meanwhile, Ali Martinez <\/span>estimated<\/span><\/a> that \u201con-chain data shows XRP has no major resistance clusters ahead,\u201d suggesting the \u201cup only\u201d path could be in play.\u00a0<\/span><\/p>\n

The post Ripple (XRP) News: May 13th<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

The past few weeks have been quite eventful for Ripple and its native token, XRP. In this article, we\u2019ll review the most recent updates and analyze the asset\u2019s price dynamics.\u00a0 Is the Legal Battle Against the SEC Over? The lawsuit between Ripple and the US Securities and Exchange Commission (SEC) has been among the hottest […]<\/p>\n","protected":false},"author":0,"featured_media":66034,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-66033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/66033"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=66033"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/66033\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/66034"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}