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- Ripple kickstarts its global hiring spree just three months before the final verdict on its lawsuit with the US SEC.
- Ripple is gearing up for a significant re-entry into the U.S. market in a strategic move to strengthen Ripple’s position in the U.S. market.
American fintech company Ripple has announced plans to expand its global team, with open positions including a Senior Product Manager, DeFi (London), Senior Software Engineer (Bangalore), and Senior Software Engineer (Toronto).
This follows the company’s hiring spree in September last year, where it aimed to onboard 55 professionals in various fields. While some users speculated that Ripple’s search for a Shareholder Communications Senior Manager might be a prelude to an initial public offering (IPO), CEO Brad Garlinghouse clarified that going public is not a top priority at the moment.
Ripple’s recent global team expansion comes ahead of its trial against the United States Securities and Exchange Commission (SEC), scheduled in less than three months from now. Despite facing three partial court losses in 2023, the SEC appears to be at a disadvantage. The first setback occurred in July when Judge Analisa Torres ruled that Ripple’s programmatic sales to secondary trading platforms did not qualify as offers of investment contracts.
Ripple Payments to Go Live In the US
In another major development, Ripple is planning for a big entry once again into the US market after three long years of hiatus and a legal battle with the U.S. SEC. W. Oliver Segovia, Head of Product Marketing at Ripple, revealed plans to introduce a series of product updates leveraging their extensive money transmitter licenses (MTLs), aiming to cover a significant portion of U.S. states.
This strategic move, despite 90% of Ripple’s business being international, signifies a significant re-entry into the U.S. market for Ripple Payments. The announcement holds particular significance given the ongoing legal scrutiny from the SEC and the recent XRP hack, adding weight to the company’s initiative.
XRP Price Stages Reversal
Ripple’s native cryptocurrency XRP has been staging a reversal gaining over 3% in the last 24 hours and moving to $0.52 with a market cap of $28.2 billion. Over the past few days, the XRP price has been trading under $0.50 and this is a healthy bounce back in that regard. Additionally, Ripple co-founder Chris Larsen also suffered a wallet hack this week.
Some market analysts have been already giving very high price targets for XRP. EGRAG Crypto, a well-known figure in the crypto analysis community, is setting sights on the future Bull Run with a high degree of conviction. Anticipating double-digit growth, the analyst expresses strong confidence in the potential for significant market upswings, fueled by an ambitious target of reaching $27.
#XRP En Route to $27 (UPDATE):
Give it a deep dive into the insightful analysis from August 29, 2023, where the monthly chart's Green-Dotted-Line unveiled the potential roadmap for XRP's trajectory. Check it out here🔍Link: https://t.co/xKRuQI9maH
What's Unfolding Now:
Fast… pic.twitter.com/f1BFMOThbV— EGRAG CRYPTO (@egragcrypto) February 3, 2024
As the crypto market dynamics continue to evolve, EGRAG Crypto’s positive outlook contributes to the ongoing discourse on potential price movements and market trends. Investors and enthusiasts are keenly observing these insights for indications of the market’s trajectory in the upcoming period.
