Ripple (XRP) is facing legal challenges from the US Securities and Exchange Commission (SEC) and a civil lawsuit against CEO Brad Garlinghouse. XRP price is currently stable around $0.50, with analysts predicting there could be significant gains if several technical patterns are formed.

Ripple also faces another civil securities lawsuit over "misleading statements" CEO Brad Garlinghouse made in a 2017 interview. Although he said he was "very, very long Regarding XRP, he actually "sold millions" of tokens that same year.

Another development was the announced launch of a Ripple stablecoin. A week ago, the company revealed that the financial product pegged to the US dollar would be called Ripple USD (RLUSD). It will be available on XRP Ledger and Ethereum and will go live by the end of 2024.

Despite the recent market retreat, XRP has been fairly stable, hovering around $0.50 and up 3% on a weekly basis. One person who believes the asset will have much more significant returns in the future is user X EGRAG CRYPTO.