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Australian XRP Community for Series of Advancements at XRP Event

The popular Ripple influencer nicknamed ‘Crypto Eri’ recently announced the significant event set to disrupt the entire Australian XRP Community on Twitter.

The crypto enthusiast invited virtual asset pundits from all parts of the earth to join the exciting XRP Gold Coast 2024 Conference.

The ‘A Wave of Innovation’ conference focuses on spurring potential and massive attendance in next-generation discussions, insightful presentations, and engaging workshops centered around recent advancements in XRPL and the XRP network.

In the tweet, Eri included an interesting video displaying a trailer of the event’s details, leaving viewers hungry for more.

As seen in her comment section, the Australian Ripple family showed much interest and enthusiasm for the conference, with many individuals pledging to attend. Pro-XRP lawyer John Deaton also showed much excitement and enthusiasm about the event.

The XRP Gold Coast 2024

The official website displayed details about the conference, which promises to be beyond a gathering of industry professionals, investors, innovators, and pundits.

It will act as a leading platform to discover more about the ever-dynamic ecosystem of the XRPL Network and blockchain solutions.

The event is anticipated to lure global attention with its popular Australian Gold Coast, impressive beaches, amazing theme parks, and The Star casino.

The XRP Gold Coast planning team has organized community programs in several capital cities. These programs will allow attendees to rally the interest of community members with like minds within the XRPL network.

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SEC sets remedies phase timeline in Ripple case, XRP faces market scrutiny

 

The legal tussle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs has reached a critical stage as Judge Analisa Torres outlined a detailed schedule for the remedies discovery and briefing process. This development follows the dismissal of charges against individual Ripple executives, narrowing the case solely to Ripple as the defendant.

The timeline set by Judge Torres on Monday, November 13, 2023, marks February 12, 2024, as the commencement of a comprehensive examination of Ripple's alleged offenses. The SEC will then present its brief on potential remedies for Section 5 violations by March 13, 2024. Ripple Labs is expected to submit its opposition to the SEC's propositions by April 12, with the SEC's final response due by April 29, 2024. This sequence of filings will conclude the remedies phase of the litigation.

Both parties have agreed to a 90-day discovery period for all issues pertaining to the remedies. With a previous ruling in July 2023 deeming Ripple's institutional sales of XRP as an investment contract, Ripple now potentially faces a significant fine that could reach up to $770 million.

The legal proceedings have cast uncertainty over XRP's market position and price dynamics. Recently, XRP encountered resistance at the $0.68 price level and there are speculations about a possible 10% decline if it falls below the $0.59 support level.

In a separate but related incident, XRP experienced a temporary price surge reaching $0.66 following a deceptive BlackRock (NYSE:BLK) XRP Trust filing that led to a dramatic 250% increase in trading volume.

The outcome of this legal battle is highly anticipated within the cryptocurrency community and could have far-reaching implications for the industry. It comes at a time when regulatory scrutiny of digital assets is intensifying globally. The final judgment, in this case, is expected in July 2024, coinciding closely with the Wave of Innovation 2024 XRP Gold Coast Conference scheduled for April, where attorney John Deaton is set to discuss the intricacies of this high-profile case.

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Judge Torres Sets Timeline for SEC vs XRP

Judge Torres Sets Timeline for SEC vs XRP Remedies in Court Filing

Earlier today, Attorney James K. Filan stated that Judge Analisa Torres has established the timeline for the “remedies discovery and briefing” associated with the U.S. Securities and Exchange Commission (SEC) vs. XRP case.

Meanwhile, a member of the crypto community on X claimed, “This timeline means no chance an appeal would be issued before mid-2026 by the second Circuit.” Moreover, he emphasized that Judge Torres’ ruling on July 13, 2023, would remain firm for a considerable period.

Lawyer Jeremy Hogan shared that the final briefs due in April 2024 suggested a possible final judgment in July. He highlighted that Ripple remained the sole defendant, indicating that the defense has significantly reduced the case’s scope to just 20% of its original size. He questioned how much of the case would remain by July, emphasizing the importance of hiring top lawyers.

Furthermore, lawyer Bill Morgan noted that the SEC’s brief on remedies is scheduled for submission just nine days before the beginning of the 2024 XRP Gold Coast Conference, hosted by the Wave of Innovation.

Morgan also highlighted that John Deaton is slated to be a keynote speaker at the conference, where there will be valuable insights shared on this aspect of the case. Morgan also speculated on the possibility of the case settling before the conference.

Morgan countered arguments from Bitcoin advocates like ScamDaddy on X (formerly known as Twitter) regarding Ripple’s win against the SEC. Morgan argued that Judge Torres’s Howey Test analysis of XRP gave its supporters an edge in debates against Bitcoin maximalists.

ScamDaddy contended that Torres’s ruling was unclear on whether XRP is a commodity or a security, but Morgan disagreed, saying that the judge stated that XRP by itself isn’t a security. He maintained that the ruling is valid despite the SEC’s ambiguity on XRP’s status, providing a counterargument for XRP holders against Bitcoin maximalists.

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Ripple’s XRP Gets a Boost: Fresh Grants for XRPL Development

XRPL Developers to Get New Grants Source

According to the announcement’s particulars, Wave Of Innovation is set to serve as a fresh funding source for developers actively engaged in XRPL-related projects. Notably, this endowment offer became effective starting from Wednesday, October 11.

It’s essential to clarify that Wave Of Innovation functions independently and maintains no connections with the RippleX development team or the San Francisco-based payment company, Ripple.

Furthermore, Bill Morgan emphasized that the selection process for grant beneficiaries will be entirely impartial. It shall rely on predetermined objective criteria set by Wave Of Innovation. Additionally, these criteria will be publicly available before the 2024 XRP Gold Coast Conference, scheduled for March of next year.

Adding to XRPL developer community’s positive prospects, Bill Morgan highlighted that even developers working on XRPL side chains will be eligible to apply for these grants. He urged developers to seize this opportunity by expressing their interest in Wave Of Innovation.

As expected, this development has generated enthusiasm within the XRP community, as it provides a robust channel to invigorate development initiatives on the XRPL and further foster the adoption of XRP.

Notably, Wave Of Innovation joins the ranks of Ripple and other entities in supporting developers within the XRP ecosystem. It’s worth remembering that Ripple previously extended a grant of $100,000 to a decentralized exchange operating on XRPL through its grant program a few months ago.

Amid the broader market sell-off, Ripple’s native crypto XRP has also come under significant selling pressure. Over the last week, the XRP price has lost 9% with its price slipping under $0.48.

However, the XRP ledger continues to see new developments taking place that keep the community optimistic regarding the future of XRP.

During this prevailing bearish trend, the well-known XRP advocate, Bill Morgan, made an announcement on the X platform that carries substantial implications for the value of XRP.

Morgan, in particular, conveyed his enthusiasm when he disclosed that “Wave Of Innovation,” a non-profit organization responsible for organizing the forthcoming 2024 XRP Gold Coast conference, has made the significant decision to offer grants to XRP Ledger (XRPL) developers. This development marks a notable step forward for the XRP community.


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XRP Ledger Flourishes Amid Legal Uncertainties

The XRP Ledger (XRPL) has been making significant strides in the second quarter of 2023 despite ongoing legal concerns stemming from the Ripple vs. SEC lawsuit. Once again, the XRP Ledger is in the spotlight, and there’s good news for all the XRP fans.

Bill Morgan, the attorney, has said that the XRPL’s growth and development are crucial for XRP’s success. This is a big deal because it means that the XRPL is on a good path despite some legal issues.

Regarding the 2024 XRP Gold Coast Conference, Morgan said that Wave of Innovation, a not-for-profit group, organized this event. However, he made an exciting announcement and revealed that they will give XRPL developers grants. But here’s the cool part: they are not connected to RippleXDev or Ripple. They are free to choose grant recipients based on their criteria, which they’ll share before the conference in March 2024.

XRPL has served as a decentralized payment system for over a decade, facilitating fast, secure, and eco-friendly cross-border and cross-currency transactions. Its features include native-issued currencies, a decentralized exchange (DEX), escrow capabilities, and token management.

The total number of new addresses on XRPL witnessed a remarkable 31.8% growth, surging to 138,790 compared to the same period in 2022. : Quarterly revenue experienced a substantial increase of 220.3%, reaching $188,376.


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Will XRP 2024 Gold Coast Summit Benefit XRPL

While Ripple’s CEO, Brad Garlinghouse, addressed the XRP community prior to the Friday Night celebration of the XRP ruling, prominent pro-XRP lawyer Bill Morgan expressed skepticism about the significance of the party.

Just hours before the celebratory festivities kicked off, Garlinghouse gave the enthusiastic XRP community insights into what they could anticipate at the event. He emphasized that there would be no major announcements during the party, dispelling widespread community speculation.

Garlinghouse clarified that the event’s sole purpose was to commemorate XRP’s victory in its legal battle against the U.S. Securities and Exchange Commission (SEC). “And as for any “announcement” that people are wondering about, tonight’s event is just a celebration,”


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