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Ripple Update: Ripple and ZoniQx Collaboration , New Class Action Lawsuit, And An Upcoming XRP Surge

Ripple has been one of the prominent yet controversial cryptocurrencies in the market. With its three-year legal battle with the SEC, up and down price trend, and recent developments, Ripple remains strong and still one of the crypto worth investing in. 

 

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Ripple’s Partnership With ZoniqX For XRPL Multi-Asset Tokenization

In a recent update, Ripple X, developed by Ripple has recently made a partnership with Zoniqx, a Silicon Valley-based tokenization firm. The collaboration aims to bring multi-asset tokenization to the XRP Ledger marking a crucial step towards changing the XRPL into a hub for real-world assets (RWA) tokenization.

The collaboration is supported by two of Zoniqx’s leading services: Tokenization Platform as a Service (TPaaS) and Tokenization Life Cycle Management (TALM). These tools would make it easier to convert RWAs into digital tokens that can be stored and managed on the blockchain.

 

Ripple Faced A New Class Action Lawsuit Over XRP Sales

As per the recent update on Ripple vs SEC lawsuit, Ripple could be facing a new class action lawsuit because of its XRP sales. However, Fox Business journalist Eleanor Terret said:

“I’m receiving some messages about this class action lawsuit against Ripple and Brad Garlinghouse. It appears to be a notice to investors about a case being heard in the Northern District of California, alleging that the defendants offered and sold XRP in violation of federal and California securities laws.”

Terrett clarified that this doesn’t constitute a new class action lawsuit against Ripple. Instead, she pointed out that the case number is No. 18-cv-06753-PJH which is related to the Ripple vs. Zakinov case way back in 2018. 

 

Ripple’s Upcoming Surge 

Ripple’s XRP token has been on a downtrend recently making lower highs since July 2023. However, analysts now suggest a breakout and an upcoming XRP surge.

According to CoinsKid, a crypto expert, the XRP price will most likely surge to $1.30. At this time of writing, XRP trades at $0.56 making this trade a 135% potential increase if it bears fruit.`

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Sophia Cruz
Financial Writer - Asian & European Desks
Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.
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