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.
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.
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.
