In a recent meeting, Ripple CEO Brad Garlinghouse stated the firm aims to go public when the SEC's lawsuit will be over.
The legal actions started in December 2020, when the SEC started a $1.3 billion lawsuit against Ripple claiming XRP, the cryptocurrency developed by the company is security. The company says the process doesn't have any ground as XRP is a commodity.
While the case has been under the process of discovery, Ripple aims to get clarification why the SEC views XRP as security but BTC and Ether as commodities. On April 6, Ripple won a discovery motion to access the SEC's inward papers related to crypto assets and in what case they are treated as securities.
Meanwhile, the tech company continues to build new partnerships and expand its services.On May 25, Ripple announced adding NFT support for the XRP ledger (XRPL). The company builds more partnerships outside the US. One of the latest deals became the cooperation with the National Bank of Egypt.
Currently, XRP trades at around $1.02. The token ranks 6th by market cap, which stands at over $47 billion.