Ripple Joins New EU Crypto Project for Testing and Issuing CBDCs and Stablecoins
Ripple has partnered with Super How, a blockchain tech research lab based in Lithuania, to work on the Axiology project. The project aims to test and issue cryptocurrencies, including CBDCs and stablecoins, and boost regulators' confidence in their safety. Axiology is built on the XRP Ledger and provides new use cases for businesses to apply tokenization and utilization of cryptocurrencies. This partnership will help advance the adoption of blockchain in finance and provide a good opportunity for European banks to practice issuing and using CBDCs as part of the DLT Pilot Regime Regulation adopted by the European Union.
Crypto.com Offers Up to $20,000 in XRP Rewards for Trading Campaign Celebrating Ripple's SEC Victory
Crypto.com is offering up to $20,000 in XRP as rewards for its ongoing XRP trading campaign. The campaign, called the "XRP App Campaign", has two categories: Net Buy Challenge and Trading Competition, each with a $10,000 prize pool. To participate in the Net Buy Challenge, users must perform at least $5 worth of XRP net buys on the Crypto.com exchange, while the trading competition requires users to trade at least $5 worth of XRP during the campaign period. Winners will receive their rewards in XRP tokens within 30 days after the campaign ends.
Ripple Applies for Licenses in UK and Ireland After Landmark Win Against SEC
Following the recent ruling by Judge Torres that XRP is not a security, Ripple is seeking to expand further in Europe and has applied for registration as a crypto asset firm with the UK's Financial Conduct Authority and for a payment institution license in Ireland. The company announced plans to expand to other European countries last year, and the recent ruling has given them confidence to seek approval for licenses in the UK and Ireland.
Rebecca Rettig and Jake Chervinsky Discuss Ripple’s Recent Court Ruling and the Future of Crypto Regulation
Rebecca Rettig, the chief legal and policy officer of Polygon Labs, is cautiously optimistic about the recent federal district court ruling in favor of Ripple against the SEC. She sees a "turning tide" for favorable regulatory conditions in the crypto industry, but recognizes that the ongoing proceedings are potentially far from resolved.
Elon Musk Comments on Ripple Win in Recent Podcast Episode
Elon Musk, the CEO of Tesla and Twitter, recently praised The All-In Podcast for their discussion on Ripple's recent victory over the SEC. Musk tweeted "Good podcast" in response to the episode, which also brought hope to the crypto community that the SEC's power over US crypto companies and tokens may be limited. Despite his interest in crypto, Musk has never mentioned XRP or the Ripple-SEC case in his tweets, and his main focus in the crypto space is on Dogecoin. Tesla still holds $184 million worth of Bitcoin on its balance sheet as of Q2 2023.
XRP Ruling Spurs Demand for Fair Crypto Rules, Says Mike Novogratz
The recent ruling in the legal battle between Ripple and the SEC has highlighted the need for clear and fair rules in the crypto market. Mike Novogratz, the CEO of Galaxy Digital, believes that this win for Ripple could push the SEC to create fair rules for the industry.
XRP Caps Two-Day Run with Highest Daily Close This Year, Futures Contracts Remain Elevated
XRP, the fourth most valuable cryptocurrency, had its highest daily close this year after a two-day run. The token briefly surged to an intraday high of $0.94 before correcting 28%. XRP's derivatives have also seen a significant spike in open interest, with futures contracts remaining elevated at levels not seen since November 2021. Despite other major digital assets remaining muted, XRP remains up 71% over the last seven days following a legal decision on its status as a security.
Regulatory Decisions and Altcoins: A Look at the Impact on Crypto Market Movement
The recent ruling by a US judge that XRP is not a security and the acceptance of BlackRock's bitcoin ETF application by the SEC has caused a 25% surge in XRP's price and increased volatility in digital assets. According to Greg Magadini from Amberdata, regulatory events have a significant impact on prices and movement in the crypto market.
XRP Community Corrects Politician For Calling XRP A Security
XRP community members, including lawyer John Deaton, corrected House Republican Jane Adams after she referred to XRP as a security. Deaton explained that while XRP may be used in securities transactions, it is not itself a security. XRP's price has risen by 5% in the past 24 hours and by 75% in the past week. Analysts predict that XRP's price will continue to rise and may surpass $1.
Attorney Hogan: Chances of Settlement in SEC v. Ripple Case Increased Ten-Fold After XRP Declared Non-Security
According to Attorney Hogan, the chances of a settlement in the SEC v. Ripple case have increased ten-fold after the court declared XRP a non-security. While some securities lawyers predict that the SEC will appeal the part of the court's ruling it lost, Hogan believes that Judge Torres' declaration of XRP as a non-security will trigger a settlement between the parties.
US Presidential Candidate Predicts XRP Will Dethrone Bitcoin as Top Cryptocurrency, Sparking Varied Sentiments
US Presidential candidate Patrick Riley has predicted that XRP will surpass Bitcoin as the top cryptocurrency, causing mixed reactions. Riley tweeted that with XRP trading at just $11, it would eventually overtake Bitcoin in market dominance.
Linqto to Sell Tokenized Private Equity for XRP in Pilot Program
Linqto is developing a pilot program to sell tokenized private equity for XRP, with plans to use XRP as the only payment method. The program will involve setting up a new Special Purpose Vehicle (SPV) that will be firewalled from the rest of Linqto's other SPVs and main database. The tokenized assets will be sold for XRP and transactions will clear and settle on PolySign's Atomic blockchain.
Unidentified Whale Withdraws Over 563K XRP from Binance, Bringing Total Withdrawals to 2 Million XRP and Unrealized Profit of $640K+
An unidentified whale has withdrawn over 563,000 XRP from Binance, bringing their total withdrawals to over 2 million XRP and an unrealized profit of over $640,000. This comes as XRP has seen a 73% increase in value since a judge ruled it is not a security.
Coinbase Stock Outperforms Major Crypto Linked Funds in Past Month
Last week, Ripple had a partial win in its legal battle with the SEC, which boosted the global crypto industry. However, Coinbase's stock price surge has outperformed major crypto-linked funds in the past month, according to data from Kaiko.
Ripple's Token Price Rises Towards $0.8065 Resistance Against US Dollar
The price of Ripple's token is currently rising and could gain momentum if it surpasses the $0.8065 resistance level against the US dollar. It is currently trading above $0.75 and the 100 simple moving average (4 hours), with a bullish trend line forming with support near $0.760.
Bitcoin, Ethereum, and Ripple Show Mixed Performance as Markets Start Slowly
The global market cap has decreased by 0.4% to $1.2T, while the fear and greed index dropped to 55 from yesterday's neutral position of 57. Bitcoin is trading at $30.04K with a daily gain of 0.24% and a weekly decrease of 2.1%, and its volatility is decreasing as indicated by the Bollinger bands.
IMF Recognizes XRP as Option to Enhance Cross-Border Payments
The International Monetary Fund (IMF) has recognized XRP as an option for enhancing cross-border payments in a document titled "Trust Bridges and Money Flows." The paper highlights the challenges faced with cross-border payments and possible solutions for addressing them, including the use of swap lines, tokenized money, and a transnational marketplace.
SBI Introduces Innovative XRP Trading Initiatives and Cashback Campaigns to Promote XRP in Japan
SBI, a prominent financial firm in Japan, has launched innovative initiatives and cashback campaigns to promote XRP to the Japanese community. These include a spot transaction campaign and a leverage trading campaign, where customers can win XRP gifts and cashback up to 1 million yen.
Injective Community Votes in Favor of XRP Integration, Propelling Expansion
The Injective community has voted in favor of IIP-238, a proposal that will integrate XRP into the Injective ecosystem. This collaboration between Injective and Ripple is a significant milestone in the DeFi sector and is set to unlock new opportunities for crypto enthusiasts.
Ripple's XRP Security Ruling Unlikely to Affect Bankrupt Crypto Lender Celsius' Wind-Up Plans, Says Counsel
The recent ruling that XRP is a security is unlikely to affect the wind-up of bankrupt crypto lender Celsius, according to the lender's counsel. The new company set to take over Celsius is not engaged in securities offerings or any of Celsius' historic business practices. The Fahrenheit consortium, which won a recent bid for Celsius' assets, will focus on less legally contentious issues like bitcoin mining and Ethereum staking.
