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That makes sense—scribes often adjusted spellings based on their own dialects, so the variations in spelling are understandable. The idea that the second element could be rit ('counsel') from the Gothic or Burgundian influence seems reasonable, and it fits with the shift from ric ('ruler') to rit.

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So, the name could be interpreted as 'wealthy counselor' or something similar, rather than 'wealthy ruler.' The regional influences help explain the different spellings.