Ripple (CRYPTO:XRP) recently announced its forthcoming stablecoin, RLUSD, set to debut on the XRP Ledger and Ethereum in 2024, marking a significant step in bridging traditional finance with the crypto industry.

Despite anticipation for RLUSD, the United States Securities and Exchange Commission (SEC) has criticised the initiative, labeling it an "unregistered crypto asset."

This criticism is part of a longstanding legal feud between Ripple and the SEC, with the latter seeking a substantial $2 billion penalty over allegations of unregistered securities offering involving XRP tokens.

Ripple, in contrast, argues for a minimal $10 million fine, citing the absence of fraud charges in the case.

Despite XRP's current trading price of around $0.47, analysts like EGRAG CRYPTO view this as an opportune moment to buy, noting favorable Relative Strength Index (RSI) indicators that suggest potential market recovery despite recent fluctuations tied to US economic policies.