XRP Financial News

Ripple Labs, the creator of the decentralized XRP Ledger and issuer of the XRP cryptocurrency that powers it, is expanding its Liquidity Hub platform to Australia and Brazil.

Bitcoin (BTC) has been stuck inside a large range since April, indicating indecision about the next directional move. Efforts by the bears to sink the price below the support of the range were thwarted by the bulls on Sep. 11. However, Bitcoin is not out of the woods yet. 

In the ever-evolving cryptocurrency landscape, rumors suggest that BlackRock (NYSE:BLK), the world's largest asset manager with over $9 trillion in assets under management, may be reassessing its digital asset strategy. The financial giant is speculated to be considering a shift in focus from Bitcoin, the leading digital currency, to XRP, a digital asset primarily known for its payment protocol.

Lawyer John Deaton, who represents numerous XRP token holders in the Ripple- Securities Exchange Commission (SEC) lawsuit, has formally submitted his notice of appearance as an Amicus Curiae in the LBRY lawsuit. 

The crypto space is no stranger to meteoric rises and surprising dark horses. As QUBE, the native token of the promising InQubeta platform, surpasses the $3 million mark in its ongoing presale, the crypto community is buzzing with anticipation. But as the dust settles and investors crunch the numbers, a bold question emerges: Can QUBE eventually surpass the popularity of top altcoins like XRP?

The total market cap of USD Coin (USDC), the world’s second-largest US dollar-pegged stablecoin by market capitalization which is issued by US fintech firm Circle, overtook XRP (XRP) in market cap on Thursday.

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.

BNB, USD Coin, XRP Dogecoin, Cardano and Solana fell up to 2%. ETH was trading at $1,580.67 while Dogecoin was at $0.06124. «In the last 24 hours, Bitcoin briefly lost its crucial support at $25,000 for the first time in almost three months. For BTC to not enter panic mode, $24,500 support remains sacrosanct. This is the level above which BTC has been trading for almost 6 months now. As for ETH, which fell 2.8%, the support of $1,600 has been breached and it is currently trading around $1,550,» Shubham Hudda, Senior Manager, CoinSwitch Markets Desk said. In Hudda's opinion, a major catalyst for SOL’s ($17.95) sell-off is still Wednesday's expectation of FTX unlock, pointing out that this cryptocurrency was already down by around 50% from its recent high in July. «Additionally, given that a majority of the SOL is time-locked for FTX, we could very well see a 'sell the rumor, buy the news’ event playing out on Tuesday,» he added.

Securities and Exchange Commission (SEC) Chair Gary Gensler aims to reiterate his stance that many cryptocurrencies should fall under the agency's regulatory purview when appearing before the Senate Banking Committee.

In July, a United States judge ruled that Ripple Labs’ XRP (XRP) token was not a security when sold to the public on secondary markets. While the Securities and Exchange Commission will contest the decision, the broader cryptocurrency community has embraced it, as crypto trades on exchanges might sidestep the securities transaction label.

In today's market update, Ripple has witnessed a decline of roughly 1.2%, bringing its current price to $0.4787. 

Cryptocurrency asset outflows for the week of Sep. 3 through 9 totalled $59.3 million, bringing the current run to $249 million over four consecutive weeks. 

The XRP price has fallen by 3.5% in the past 24 hours, with its drop to $0.482084 coming on a bad day for the cryptocurrency market as a whole, which is down across the board.

cryptocurrency markets were majorly trading lower in Monday's trade. Bitcoin (BTC) fell 0.20% to $25,808, whereas Ethereum (ETH) was below the 1,650 level. «The overall crypto market experienced losses, and Bitcoin briefly dipped below $26,000. Meanwhile, Bitcoin is on the verge of a „death cross,“ where its short-term 50-day Simple Moving Average (SMA) is about to dip below its long-term 200-day SMA, said CoinDCX Research Team. Other top crypto tokens were also trading lower. XRP, Dogecoin, Polkadot and Solana declined over 1%. The global cryptocurrency market cap was trading lower, around $1.04 trillion, falling 0.32% in the last 24 hours.

In the latest development surrounding the cryptocurrency landscape, the US Securities and Exchange Commission (SEC) has ignited fresh concerns by seeking a mid-case appeal in its lawsuit against Ripple. 

The U.S.Securities and Exchange Commission has submitted a filing urging the court to grant its motion to appeal a ruling from the Ripple Labs lawsuit that deemed that XRP was not a security when sold to retail investors.

BNB, Cardano and Tron were trading with gains, while XRP, Dogecoin, Solana and Shiba Inu were trading with cuts. Meanwhile, the global cryptocurrency market cap was trading higher, around $1.04 trillion, rising 0.22% in the last 24 hours. «BTC’s price remained within a narrow range for another day, although for a very brief duration, BTC did trade below $25.5k and above $26k. The small dump and pump happened around the same time as the news broke out that a major tech investor Cathie Wood's ARK Invest applied for a spot Ethereum ETF in the US,» Shubham Hudda, Senior Manager at CoinSwitch Markets Desk, said. The total volume in DeFi is currently $2.07 billion, 7.87% of the total crypto market 24-hour volume. The volume of all stablecoins is now $25.1 billion, which is 95.46% of the total crypto market 24-hour volume.

Cryptocurrency company Ripple announced on Friday it will acquire Fortress Trust, a startup specializing in crypto infrastructure, giving it a license in Nevada and allowing it to expand beyond its core bread and butter of blockchain-enabled payments.

The bulls tried to shake Bitcoin from its slumber on Sept. 7, but the rally was short-lived. This suggests a lack of clarity between the bulls and the bears about Bitcoin’s (BTC) next directional move. Analyst CryptoCon said on X (formerly Twitter) that Bitcoin could remain in a “mid cycle lull” until the start of the next bull run in November 2024.

The XRP price has risen by 0.5% in the past 24 hours, returning to the $0.501675 level on a day when the cryptocurrency market as a whole posts a 1% gain.

A court ruling that cleared Ripple's XRP token of being considered a security offering might signal a turn in the tide against regulatory scrutiny of the cryptocurrency ecosystem in the United States and current lawsuits involving the likes of Coinbase and Binance.US and pending ETF applications.