Ripple is making some progress in settlement talks with the SEC while XRP is set to go live on the WanChain mainnet
XRP price surged 20%, XRP is valued at $1.42. Confidence in Ripple is once again growing after its succession of small courtroom victories against the US Securities and Exchange Commission. Back in December last year, the SEC whacked Ripple with a $1.3 billion lawsuit alleging that the company sold XRP as an unregistered security. Ripple denies the allegations. However, that’s not all good news for XRP. In it, WanChain is about to integrate XRP, enabling yield and liquidity mining.
— Jack Lu | Wanchain (@JackLu_WAN) April 10, 2021
WanChain is about to integrate XRP, enabling yield farming and liquidity mining
According to a recent announcement made by Wanchain CEO Jack Lu, decentralized cross-chain bridges for XRP, the fourth-largest cryptocurrency, are set to go live on the mainnet in the nearest future:
“This means that XRP tokens can now be used for liquidity mining and yield farming.”
The cross-chain integration will make it possible for XRP holders to engage with different applications on Wanchain and Ethereum. They will also be able to interact with Bitcoin and EOS, two previously added chains.
Emi Yoshikawa, vice president of global corporate strategy and operations at Ripple, said that she was excited to see the XRP ecosystem supporting new use cases:
“Exciting to see the XRP ecosystem getting further expanded to support new use cases such as Defi.”
Ripple is making some progress in settlement talks with the U.S. Securities and Exchange Commission
Galaxy Digital CEO Mike Novogratz has weighed in on the ongoing XRP rally, claiming that it might indicate that distributed ledger technology provider Ripple is making some progress in settlement talks with the U.S. Securities and Exchange Commission.
Considering that the company’s equity is currently trading at just $2 billion in the secondary market, the former hedge fund manager calls it crazy cheap. However, if Ripple is nowhere close to settling with the SEC, XRP seems to be expensive to him.
Stephen Palley of Anderson Kill claims that XRP’s rally is unlikely to be linked to any settlement prospects unless someone has some insider information.
While he admits that Ripple has done better than expected in discovery fights, Palley believes that it could take a while until this case gets resolved:
“Ripple has done better than I expected so far in preliminary motion practice and discovery fights, but there’s a long way from that to case resolution. I’d be surprised if there was a settlement before summary judgment practice but maybe I am missing something.”
During a recent interview with Bloomberg, CEO Brad Garlinghouse claimed that he was hoping to renew settlement talks after SEC chair nominee Gary Gensler’s confirmation.
You can see the XRP price here.
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