XRP Skyrockets 194% Amid Ripple CEO’s Tether Comments & Arrival of Key SEC Date: Ripple (XRP) Now Backed by South Korean Validator

  • Ripple CEO Brad Garlinghouse clarifies his comments on Tether, emphasizing the importance of stablecoins in the crypto ecosystem.
  • XRP sees a significant surge in trading volume, coinciding with a key date in the ongoing Ripple v. SEC case.
  • South Korean virtual asset service provider, Infinite Block, becomes a validator on the XRP Ledger, promising to enhance the reliability of XRPL.

Explore the latest developments in the Ripple universe, including CEO Brad Garlinghouse’s comments on Tether, a surge in XRP trading volume, and the addition of a new validator on the XRP Ledger.

Ripple CEO denies “attacking” Tether

In the recent exchange between Ripple and Tether CEOs, Brad Garlinghouse defended his comments about USDT. He clarified that his statement was not an attack on Tether but an observation on the U.S. government’s desire for more control over dollar-backed stablecoins. Tether, being the largest stablecoin issuer, naturally falls within their purview.

Garlinghouse’s comments spark debate

The Ripple CEO’s comments have sparked a debate in the crypto community, with Tether head Paolo Ardoino criticizing Garlinghouse for being “uninformed”. However, Garlinghouse maintains that his comments were intended to highlight the importance of stablecoins in the crypto ecosystem.

XRP skyrockets 194% in volume as key Ripple v. SEC date arrives

Data from CoinGlass shows a significant surge in XRP derivatives trading volume, which increased by 194% over the previous day. This increase coincides with a crucial development in the Ripple-SEC legal battle, with both parties filing omnibus letter-motions to seal all materials related to the remedies-related briefing.

Implications of the trading volume surge

The surge in XRP’s trading volume represents about 6% of its market capitalization, indicating notable but moderate trading activity. This development could have significant implications for the ongoing Ripple-SEC case and the future of XRP.

XRP Ledger gets South Korean validator

Infinite Block, a South Korean virtual asset service provider, has become a validator on the XRP Ledger. This move is expected to contribute to the steady development of the XRPL ecosystem within Korea’s regulatory framework.

Infinite Block’s role as a validator

As a validator, Infinite Block aims to enhance the reliability of XRPL and ensure user protection. The company’s CEO, Jung Gu-tae, has expressed commitment to regulatory compliance both domestically and internationally.

Conclusion

The recent developments in the Ripple ecosystem, including the CEO’s comments on Tether, the surge in XRP trading volume, and the addition of a new validator on the XRP Ledger, highlight the dynamic and evolving nature of the crypto landscape. As the Ripple-SEC case progresses, these developments could have significant implications for XRP and the broader crypto market.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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