XRP is the native token of the XRP Ledger, and the cryptocurrency used by the Ripple payment network. 

It's built for enterprise use on a global scale and helps power cost-efficient cross-border payments.

As Wall Street continues to embrace alternative cryptocurrencies, recent developments in the ongoing SEC case against Ripple Labs have once again thrust XRP into the spotlight. With a federal judge imposing a $125 million penalty on Ripple, the company's payment-focused cryptocurrency, XRP, saw a dramatic surge, outpacing major players like Bitcoin and Ethereum.

XRP On The Rise: Wall Street's Increasing Altcoin Appetite

SBI Digital Community Co. Ltd. has partnered with Ripple Labs Inc. to promote the use of the XRP Ledger in the Web3 space. The partnership will also involve issuing non-fungible tokens (NFTs) on the XRP Ledger and rewarding creators in XRP, aiming to enhance consumer experiences and make Web3 technologies more accessible.

Ripple and SBI Digital Community Partner to Advance Web3 With XRP Ledger

Traders have locked in over $2 million in XRP's $1.10 call option listed on Deribit, the highest across all available maturities.

XRP Bullish Options' Popularity Jump May Be Due to ETF Speculation, Observers Say

Ethereum

Ripple announced today that it has started the private beta testing of its new stablecoin, Ripple USD (RLUSD), on its own blockchain and Ethereum.

Ripple Begins Private Beta of New Stablecoin RLUSD on Blockchain and Ethereum

Ripple's chief legal officer has addressed the possibility of an appeal by the U.S. Securities and Exchange Commission (SEC) following the $125 million final judgment in the XRP case. He suggested that if the Biden-Harris administration is committed to resetting its stance on crypto, the securities regulator should not seek to appeal.

Ripple Legal Chief Discusses Potential SEC Appeal After Final Ruling in XRP Case

The U.S. Securities and Exchange Commission (SEC) has addressed District Judge Analisa Torres' ruling in the Ripple case over XRP, emphasizing the substantial financial penalties imposed on the crypto firm and its ongoing securities law violations. While Ripple celebrated the 94% reduced fine, the regulator underscored that the court acknowledged Ripple's securities violations.

SEC Addresses Final Court Ruling in Ripple Case, Highlights Key Outcomes

Ripple has kicked off beta testing for its new dollar-pegged stablecoin, Ripple USD (RLUSD), on the XRP Ledger and the Ethereum (ETH) mainnet. The San Francisco payments company notes Ripple USD is not yet available for purchase and is still subject to regulatory approval.

Ripple Kicks Off Beta Testing for Its New RLUSD Stablecoin on the XRP Ledger and Ethereum

The company moves forward with its Ripple USD (RLUSD) coin, but will still need regulatory approval for a full launch.

Ripple Starts Testing Its New Stablecoin on Ethereum and XRP Ledger

Ripple Labs has initiated beta testing for ripple usd (RLUSD), a stablecoin pegged to the U.S. dollar, on both the XRP Ledger and Ethereum mainnets. The stablecoin is currently not available for public trading as it awaits regulatory approval.

Ripple Starts Beta Testing of USD-Pegged Stablecoin on XRP Ledger and Ethereum

XRP surged by more than 27% in the 24 hours after a judge issued a long-awaited order in the U.S. Securities and Exchange Commission's (SEC) lawsuit against Ripple Labs. In an order filed on Wednesday, District Judge Analisa Torres imposed a $125 million civil penalty against the San Francisco-based payments company.

XRP Skyrockets by 27% in 24 Hours After Judge Orders Ripple To Pay $125,000,000 in SEC Lawsuit

The company said it will use both Ripple USD (RLUSD) and XRP for cross-border payments services.

Ripple Begins Testing Its Stablecoin on Ethereum and XRP Ledger

Earlier this year, Ripple noted that it would launch a stablecoin to rival USDT and USDC sometime in 2024.

Ripple begins testing its stablecoin RLUSD on XRP Ledger and Ethereum

APT gained 3.9% and BCH rose 2.7%, helping to balance out XRP's losses.

CoinDesk 20 Performance Update: XRP's 7.8% Decline Weighs on Index

Bitcoin

A widely followed crypto analyst is expressing bullish sentiment on a large-cap altcoin while updating his outlook on Bitcoin (BTC) and Ethereum (ETH).

Crypto Analyst Says Top-10 Altcoin Primed To Explode by at Least 450%, Updates Outlook on Bitcoin and Ethereum

XRP's order book on U.S. exchanges is 30% more liquid than offshore platforms.

Here's Why XRP Whales May Prefer U.S. Exchanges Over Offshore Venues

On Aug. 8, following the imposition of a $125 million civil penalty on Ripple Labs by a district judge, the firm's executives and community celebrated the outcome as a “victory.” This led to an uptick in XRP's trading volume and price. In the 24 hours leading up to the ruling, XRP rose from $0.

Following Court Ruling, XRP Price Skyrockets as South Korea Leads the Charge

Dogecoin

A widely followed crypto analyst says that one rival of global payments network Stellar (XLM) is primed to skyrocket against Bitcoin (BTC).

Trader Says Stellar (XLM) Rival Primed To Surge Against Bitcoin, Outlines Path Forward for Dogecoin and Ethereum

Meanwhile, a U.S. judge approved a $12.7 billion settlement between FTX and the CFTC, bringing the 20-month-long lawsuit to an end.

The Daily: XRP surges after Ripple's SEC case nears end, BTC's institutional investor rebound, WazirX to undo trades following freeze

Ripple soared 17.5% while Solana climbed 8.9%, leading the index higher.

CoinDesk 20 Performance Update: Index Rallies 7.1%, Led by XRP's 17.5% Gains

The latest price moves in bitcoin (BTC) and crypto markets in context for Aug. 8, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Crypto Prices Little Changed, XRP Surges

Solana

Two of former U.S. president Donald Trump's sons, Eric and Don Jr.

‘Don't Get Left Behind'—Crypto Suddenly Braced For A ‘Game-Changing' Trump Bombshell After Wild Bitcoin, Ethereum, Solana And XRP Price Swings

Trading volumes nearly tripled and open interest on XRP-tracked futures jumped $200 million in the past 24 hours.

XRP Jumps 17%, Beating Bitcoin Gains, as Ripple-SEC Case Ends

XRP skyrocketed by 26% following a pivotal move by a New York federal judge in the ongoing securities lawsuit against Ripple Labs.

XRP Surges 26% as Ripple Nears Settlement in SEC Lawsuit

Ripple has unveiled its plan to partner with the Dubai International Financial Centre (DIFC) Innovation Hub to promote blockchain and crypto adoption in the UAE. The collaboration seeks to encourage innovation among early-stage companies and large institutions.

Ripple and DIFC Partner to Drive Blockchain and Crypto Adoption in UAE

Payment-focused cryptocurrency XRP (CRYPTO: XRP) soared 15% Wednesday after Ripple Labs was handed a $125 million fine by a federal judge, a penalty far less than the $1.9 billion that the SEC had sought. What Happened: In a major development in the three-and-a-half-year-old legal battle, District Judge Analisa Torres of the Southern District of New York imposed the fine and an injunction against future securities law violations on Ripple, according to a CoinDesk report.

News for XRP Crypto (XRP)