XRP News: SEC Considers XRP’s Commodity Status in Ripple Settlement Talks

The fate of XRP hangs in the balance as the US Securities and Exchange Commission (SEC) deliberates its status in ongoing settlement negotiations with Ripple. Could XRP be reclassified as a commodity, similar to Ethereum?

SEC Considering XRP’s Commodity Status in Ripple Settlement Negotiations

The US Securities and Exchange Commission (SEC) is reportedly weighing whether XRP qualifies as a commodity rather than a security in its ongoing settlement negotiations with Ripple. According to journalist Charles Gasparino, the SEC is evaluating similarities between XRP and Ethereum (ETH), which the agency’s current administration considers a commodity despite its initial issuance through an ICO. The SEC’s evaluation of XRP’s trading utility and market function could be crucial in determining the final terms of its lawsuit against Ripple, which was filed in December 2020 alleging an unregistered securities offering through the sale of XRP.

Ripple CTO Discusses Possibility of XRP-Only System

Ripple CTO David Schwartz stated that the company could implement an XRP-only system, but it would limit its customer base and reduce its ability to attract enterprise clients and expand its network. Ripple initially chose to offer non-XRP solutions to ensure broader adoption and maintain flexibility in its payment services. The company continues to prioritize solutions that maximize network effects and customer experience.

XRP Price Prediction For March 14

Over the last few months, XRP’s price has shown significant bearish divergence. While the price has been making higher highs, the 3-day Relative Strength Index (RSI) has been making lower highs, suggesting that the upward momentum may not be as strong as it appears. Analyst Josh of Crypto World believes that the market should not expect any major bullish moves for now. In the shorter term, XRP recently bounced from a support area and moved up towards a resistance zone between $2.25 and $2.30, but is now struggling at this level.

Ripple Gets Regulatory Boost in Dubai – Will XRP Overcome Key MA Barriers?

The cryptocurrency market is attempting to recover from a recent sharp sell-off. Ripple has secured a full regulatory license from the Dubai Financial Services Authority (DFSA), allowing it to offer regulated crypto payment services in the Dubai International Financial Centre (DIFC). This approval marks a significant milestone for Ripple and sparks fresh optimism among investors.