XRP Financial News

Meanwhile, the global cryptocurrency market cap was trading lower, around $1.04 trillion, falling 1.16% in the last 24 hours. «The markets remained calm over the weekend with BTC failing to retain the $27,000 level. The rising crude oil process and geopolitical uncertainty may restrict the crypto market momentum in the coming weeks,» Atulya Bhat, CMO of BuyUcoin, said. Meanwhile, Edul Patel, CEO & Co-founder of Mudrex, said, «Bitcoin is currently trading above $26000. The bulls have been working hard to counter the bearish signals in the market. Bitcoin currently faces resistance at the $27,500 mark. However, the price could decline below the current level and there are chances that BTC might revisit the $25,400 support zone.»

The XRP price has climbed back above the all-important $0.50 level today, with its rise to $0.501776 representing a 1.5% gain in 24 hours and a 6% increase in the past fortnight.

SBI Remit, part of Asian fintech powerhouse SBI, has been tapping Ripple for its international money transfer service since 2017.In 2021 it began using XRP as a bridge between two fiat currencies to perform cross border remittances from Japan to a digital wallet in the Philippines. From this month, the effort will be expanded to bank accounts in the Philippines, Vietnam, and Indonesia.

Bitcoin’s (BTC) weakness on Sep. 24 shows that the bears remain in control. Sellers are trying to pull the price below $26,000 but the bulls are likely to defend the level with vigor. Buyers are trying to achieve a positive monthly close for Bitcoin in September for the first time since 2016.

The XRP price has dropped to $0.494065 today, representing a 3% fall in the past 24 hours for the fifth-biggest cryptocurrency by market cap.

Meanwhile, benchmark 10-year US Treasury yields touched a 16-year peak the day after Fed Chairman Jerome Powell warned inflation still has a long way to go before approaching the central bank's 2% target. At 11 a.m., Bitcoin (BTC) was trading 1.62% lower at $26,620, while Ethereum (ETH) was trading below the 1,600 level. Meanwhile, the global cryptocurrency market cap was trading lower, around $1.06 trillion, falling 1.50% in the last 24 hours.

The Federal Reserve did not hike interest rates in its meeting on Sep. 20 but hinted that rates could remain higher for longer. At the post-meeting press conference, Fed Chair Jerome Powell cautioned that “the process of getting inflation sustainably down to 2% has a long way to go.”

XRP has overtaken USDC as the fifth-biggest cryptocurrency in the world in terms of market cap, with the altcoin's price rising by 2.5% in the past week.

Bitcoin’s (BTC) recovery is facing selling above $27,000, indicating near-term nervousness due to the Federal Reserve’s meeting on Sep. 20. However, long-term investors are unfazed and they have continued to accumulate. Glassnode data shows that Bitcoin’s inactive supply has been at all-time highs since July.

The XRP price has jumped to $0.513014 today, marking a 1% rise in the past 24 hours and an 8% gain in the past week.

The head of the US Security and Exchange Commission (SEC)’s Crypto Assets and Cyber Unit David Hirsch just sent a chilling warning to the crypto industry, which has already found itself heavily in the agency’s crossfire in recent months.

On Monday, the New York Department of Financial Services (NYDFS) introduced updated standards for its virtual currency oversight while removing Ripple (XRP) from "its approved list of cryptocurrencies."

The Dogecoin price has risen by 1% in the past 24 hours, with its move to $0.062918 coming after the New York Department of Financial Services removed the meme token from a greenlist of approved virtual currencies.

Meanwhile, the global cryptocurrency market cap was trading higher, around $1.06 trillion, rising 1.5% in the last 24 hours. «Bitcoin is currently trading at the $26,500 mark, and this shift in its price may be attributed to recent developments at the European Central Bank (ECB),» Edul Patel, CEO & Co-founder of Mudrex, said. The ECB has signalled that their recent hike of 0.25% in three key interest rates could potentially mark the conclusion of the rate hikes in the current cycle. In order to sustain its upward momentum, Bitcoin will need to breach the resistance at $27,000, Edul added.

BNB, Solana and Litecoin were trading with gains, while XRP, Dogecoin, Toncoin and Shiba Inu were trading with cuts. Bitcoin (BTC) rose 0.55% to $26,678, whereas Ethereum (ETH) was above the 1,600 level. Meanwhile, the global cryptocurrency market cap was trading higher, around $1.06 trillion, rising 0.29% in the last 24 hours. «The weekend witnessed Bitcoin trading above the $26,000 level, possibly driven by a noteworthy collaboration between Deutsche Bank, Germany's leading bank, and Taurus, a Swiss cryptocurrency startup specializing in secure asset management and tokenization services,» Edul Patel- CEO & Co-founder of Mudrex, said. «Investors are awaiting the Federal Open Market Committee meeting scheduled for September 20, which may influence market dynamics. Bitcoin's next challenge is to surpass the $27,400 resistance level to maintain its upward momentum,» Edul said.

Outflows from crypto exchange-traded products (ETPs) reached $455 million over the previous nine weeks, according to a report from asset manager CoinShares. Outflows from ETPs generally indicate negative sentiment towards cryptocurrencies.

The failure of the bears to sink Bitcoin’s (BTC) price below $25,000-support ignited buying interest last week. The positive momentum picked up further at the start of the new week and buyers are trying to sustain Bitcoin’s price above $27,000.

Bitcoin (BTC) rose 1.38% to $26,260, whereas Ethereum (ETH) was above the 1,600 level. The global cryptocurrency market cap was trading higher, around $1.04 trillion, rising 1.38% in the last 24 hours. «Bitcoin and Ethereum are holding steady, with Bitcoin maintaining its position above $26,000 and Ethereum above $1,600. Bitcoin's rapid recovery above the critical $26,000 mark following the CPI report, along with Ethereum's stability, has boosted confidence among traders and analysts who regard these levels as pivotal, said CoinDCX Research Team. Other top crypto tokens were also trading higher on Thursday. XRP, Solana, Polygon, Litecoin, and Shiba Inu gained up to 5%.

The XRP price has dipped by 0.5% in the past 24 hours, taking it below its all-important $0.50 support level as the market remains largely flat today.

The ever-evolving cryptocurrency landscape has lately been abuzz with talk surrounding Ripple (XRP), currently the fifth-largest crypto by market capitalization. 

On September 13, John Deaton, the attorney renowned for representing XRP token holders in their legal battle against the SEC, formally filed a notice to serve as Amicus Curiae in the LBRY court case.