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Pro-XRP Lawyer Comments on Ripple's In-Principle Approval in Singapore and Lack of Price Reaction

June 23 (Cointime) - Pro-XRP lawyer John E. Deaton has commented on Ripple's recent In-Principle approval from the Monetary Authority of Singapore (MAS), stating that the news is significant given that fewer than 20 companies have received such a license. However, Deaton noted that the price of XRP did not react to the news, despite the fact that it will be utilized as part of Ripple's license.

Deaton also confirmed that the license will allow ODL transactions to utilize XRP. Ripple's In-Principle license will enable its subsidiary Ripple Markets Asia Pacific to scale the On-Demand Liquidity (ODL) solution in Singapore, leveraging XRP for cross-border settlements.

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