XRP News: Fidelity Investments Prepares to Launch Competitive Stablecoin

Fidelity Investments, a prominent asset manager, has announced its intention to launch a stablecoin backed 1:1 by U.S. dollars and issued on a public blockchain. This move positions Fidelity as a direct competitor in the stablecoin market, challenging established players like Ripple’s RLUSD and Tether’s USDT.

Fidelity Set to Launch a Stablecoin

Fidelity Investments is preparing to launch its own stablecoin, deepening the company’s push into cryptocurrencies. The asset manager revealed that it was in the advanced stages of testing its token, which will be fully backed 1:1 with U.S. dollars and issued on a public blockchain. This move brings Fidelity into direct competition with other stablecoin competitors, such as Ripple’s RLUSD and Tether USDT. Additionally, Fidelity also filed to launch a digital version of a U.S. money market fund, further expanding its presence in the digital asset market.

BlackRock, Fidelity Could File for XRP ETF, Approval Odds Surge to 82%

Brazil has beaten the US with an XRP ETF already running after Hashdex secured approval a month ago. Nate Geraci, the president of the ETF Store, stated that XRP ETF approval is simply a matter of time. According to him, the XRP token is the third-largest non-stablecoin cryptocurrency by market capitalization, making it an attractive candidate for major ETF issuers like BlackRock and Fidelity. These firms could follow in the footsteps of other firms like Bitwise, Canary Capital, WisdomTree, and Grayscale, who have already submitted filings.

Ripple SEC Settlement Reached: Fine Reduced, Injunction Lifted

Ripple has reached a settlement with the Securities and Exchange Commission (SEC), reducing its fine from $125M to $50M for unregistered ’institutional XRP sales’. The agency has also agreed to ask the court to lift the earlier imposed injunction that barred Ripple from future institutional sales of XRP.

Analysts Predict XRP Price Crash, Holders Seek Alternatives

Analysts are predicting a potential price crash for Ripple (XRP) below the $1.50 mark as the token sells at $2.39 with a wider bearish trend. The 3-day chart indicates a growing bearish divergence, making recent gains fragile. Investors are seeking safer bets, with Mutuum Finance (MUTM) emerging as a popular alternative due to its rapid adoption and presale success.