XRP News Today: First Major Sign That SEC May Soon Drop Ripple Lawsuit

The SEC’s recent acknowledgment of an XRP ETF application has brought optimism that its lawsuit against Ripple may soon end.

Analysts see this as a change in regulatory stance, suggesting XRP’s legal hurdles could be easing.

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Meanwhile, PlutoChain ($PLUTO), a hybrid Layer-2 network, could enhance Bitcoin by enabling faster transactions, lower fees, and DeFi compatibility. 

Let’s check out the deets. 

XRP News Today: Could the SEC Be Preparing to End Its Case Against Ripple?

The XRP community has noticed a key development that could signal the nearing end of Ripple’s four-year battle with the U.S. SEC. Optimism has grown after the SEC showed willingness to consider XRP ETFs, leading some to believe the lawsuit may no longer be a major obstacle.

A significant step came when the SEC acknowledged Grayscale’s application for an XRP ETF. On Thursday, the agency officially recognized NYSE’s request to list the ETF, marking the first stage of the approval process. 

Bloomberg analyst James Seyffart pointed out that previous SEC leadership would have likely dismissed the application, referencing a similar rejection for Solana in December. He believes this slightly boosts the chances of approval. 

Crypto analyst and entrepreneur Six8Jay, posted on X that they believe that $10 XRP is a reality and that XRP could explode once the SEC vs Ripple case is settled. 

How PlutoChain’s Hybrid L2 Approach May Improve Bitcoin With Faster Transactions, Lower Fees, and Better Compatibility

Bitcoin remains the leading cryptocurrency, but slow transactions, high fees, and congestion have long been challenges. While networks like Ethereum and Solana have introduced solutions to improve speed and scalability, Bitcoin’s infrastructure has changed little over the years. 

PlutoChain ($PLUTO), a hybrid Layer-2 network, may offer a way to enhance Bitcoin’s efficiency by potentially bringing faster transactions, reducing costs, and allowing better interaction with other blockchains.

PlutoChain could help ease congestion by handling block times off-chain before finalizing them on Bitcoin’s main network. With block times of just two seconds compared to Bitcoin’s 10 minutes, it may make payments faster and more practical for daily use. 

Lower fees could also make Bitcoin more accessible for smaller transactions. Its Ethereum Virtual Machine (EVM) compatibility might let developers bring DeFi apps, NFT marketplaces, and AI-based projects into the Bitcoin ecosystem, potentially expanding its role beyond a store of value.

Early tests suggest PlutoChain can handle high transaction volumes, reportedly processing 43,200 transactions in a single day without issues. 

Security remains a focus, with audits from firms like SolidProof, QuillAudits, and Assure DeFi. Additionally, PlutoChain’s governance model allows the community to participate in key decisions.

With its potential for faster speeds, lower fees, and cross-chain compatibility, PlutoChain may provide the tools needed to make Bitcoin more efficient, scalable, and useful for a broader range of applications.

The Bottom Line

As the SEC’s stance on XRP appears to shift, the possibility of a resolution to its lawsuit against Ripple is growing. An XRP ETF approval could further validate the asset and open new opportunities.

At the same time, PlutoChain’s advancements could revolutionize Bitcoin’s efficiency, potentially making it more practical for everyday use. It may bridge the gap between Bitcoin and the DeFi ecosystem. 

This publication is sponsored. CryptoDnes does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any action related to cryptocurrencies. CryptoDnes shall not be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any content, goods or services mentioned.

Alexander Stefanov