XRP Financial News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

The S&P 500 Index (SPX) snapped a five-week winning streak last week but it is still on track to close the first half of the year with stellar gains of nearly 13%. The tech-heavy Nasdaq Composite has done much better as it is up about 29%. Both these indices have been overtaken by Bitcoin (BTC) which has risen nearly 83% year-to-date.

The XRP price has dipped by 1% in the past 24 hours, dropping to $0.483806 as the cryptocurrency market falls by a similar percentage within the same timeframe.

The rush to apply for a spot Bitcoin (BTC) exchange-traded fund (ETF) rejuvenated the bulls but this news is likely to boost the price only to a certain distance. As the price moves up, the risks of a crash increase if none of the ETF applications are approved. Trading firm QCP Capital is not convinced that a spot ETF will see the light of the day in the near term.

cryptocurrency markets rose for the third straight day on Thursday, helped by BlackRock's plan to create a bitcoin exchange-traded fund (ETF) even as the sector faces US regulatory scrutiny. BlackRock, the world's biggest asset manager, filed for the exchange last week which would allow investors to get stakes in the asset class. Bitcoin (BTC) surged 5% to $30,326, whereas Ethereum (ETH) was above the $1,900 level. BTC volume stood at approximately $31.48 billion, rising 25% in the last 24 hours. «Bitcoin hovered above the US$30,000 level gaining 5% over the previous day as investors continued to cherish the news of multiple spot Bitcoin ETF filings,» Edul Patel, Co-Founder & CEO of Mudrex said.

The XRP price has dropped by 3.5% in the past 24 hours, with its fall to $0.493229 coming as the cryptocurrency market as a whole suffers a 1% dip.

cryptocurrency markets were majorly trading higher on Wednesday. Bitcoin (BTC) surged 8% to $28,840, whereas Ethereum (ETH) was above the $1,800 level. «The crypto market has seen a remarkable surge in trading activity over the past 24 hours, with a total volume of $43.95 billion, representing an impressive 59% increase. Bitcoin has crossed the $28,000 mark due to growing interest from institutions,» Shivam Thakral, CEO of BuyUcoin, said. Other top crypto tokens were also trading higher on Wednesday. Cardano and Litecoin rose up to 9%. Meanwhile, Polygon, Solana, and Polkadot also traded with gains. The global cryptocurrency market cap was trading higher around $1.13 trillion, rising 6% in the last 24 hours. The market cap of Bitcoin, the world's largest cryptocurrency, was around $559 billion. Bitcoin’s dominance is currently 49%, an increase of 0.83% over the day, according to CoinMarketCap. BTC volume stood at approximately $25.85 billion, rising 75% in the last 24 hours.

The XRP price has risen by 3% in the past 24 hours, rising to $0.509635 after Ripple announced it had received in-principle regulatory approval in Singapore to offer digital asset services in the city-state.

Blockchain-based payments firm Ripple has obtained in-principle regulatory approval from Singapore’s financial regulator to offer digital asset payments and token products in the city-state.

Blockchain company Ripple said Thursday it received in-principle regulatory approval to operate in Singapore, in a rare moment of good news for the cryptocurrency industry globally as it faces tightening policy back home in the United States.

In the semi-annual policy review conducted by the House of Representatives Financial Services Committee on June 21, the discussion took a turn towards the regulatory landscape of payment stablecoins. 

BlackRock’s application for a spot Bitcoin exchange-traded fund (ETF) has encouraged other financial firms to follow suit. First, it was the New York-based asset management fund WisdomTree, which made a new filing on June 21 for a Bitcoin (BTC) ETF. This was then followed by investment manager Invesco, which reactivated its application for a spot ETF.

cryptocurrency markets were trading mixed in Tuesday's trade. Bitcoin, Solana, and Polygon were trading with gains, while BNB, XRP, and Cardano were trading with cuts. Bitcoin (BTC) rose 1% to $26,796, whereas Ethereum (ETH) was above the $1,700 level. BTC volume stood at approximately $14.7 billion, rising nearly 57% in the last 24 hours. «Bitcoin’s price consolidated above the US$26,600 level in the past 24 hours. BTC even spiked above the US$27,000 forming a high near the US$27,184 and the price is now correcting gains. However, there is a back of bullish momentum and currently, BTC is trading at the US$26,900 level,» Edul Patel, Co-founder and CEO at Mudrex, said. BTC’s current resistance now lies at the US$27,200 and support at the US$26,700 level, Edul added.

cryptocurrency markets were trading mixed in Monday's trade. Bitcoin, Ethereum, and BNB traded with cuts, while XRP, Dogecoin, and Shiba Inu traded with gains. Bitcoin (BTC) fell 0.43% to $26,431, whereas Ethereum (ETH) was above the $1,700 level. BTC volume stood at approximately $9.3 billion, falling 1.91% in the last 24 hours. «Crypto markets traded in a tight range over the weekend, and in the last 24 hours. The crypto fear and index continues to stand below 50 for the last 10 days; currently at 47, down 2 points from yesterday. The fact that market capitalization and BTC prices remain above $1.1 trillion and $25k, respectively, hints towards slight resilience building amongst investors after last week,» Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said. The global cryptocurrency market cap was trading around $1.07 trillion, falling 0.35% in the last 24 hours.

XRP's price has been consolidating above the key psychological level of $0.50 for more than two weeks, coinciding with the Fib 0.382 level at $0.5031. On June 14, XRP broke down from this level, sparking concerns about a potential trend reversal.

The S&P 500 Index (SPX) has gained for five consecutive weeks, the first such instance since November 2021. In comparison, Bitcoin (BTC) is trading well below its local high of $31,000, made on April 14. This shows a clear divergence between the performance of the two asset classes.

The XRP price has gained by 1% in the past 24 hours, inching up to $0.490659 as the cryptocurrency market as a whole dips by 0.5%.

The XRP market is buzzing with anticipation as a former SEC director recently hinted that a decision regarding the XRP lawsuit may be imminent. 

Ripple CEO Brad Garlinghouse has warned that even though Ripple's legal battle against the United States financial watchdog is coming “to a close,” it is only the beginning of the battle for the crypto industry. He emphasized that the fight for clarity “has to continue.’

XRP, the cryptocurrency that powers the decentralized payments-focused XRP Ledger blockchain protocol, has recovered nearly 4% from earlier session lows.

cryptocurrency markets were trading mixed in Friday's trade. Bitcoin, Ethereum, and Litecoin were trading with gains, while XRP, Polygon, and Polkadot were trading with cuts. Bitcoin (BTC) rose 2% to $25,472, whereas Ethereum (ETH) was above the $1,650 level. BTC volume stood at approximately $15.42 billion, rising 4% in the last 24 hours. «The crypto market recovered from yesterday’s dip as selling pressure showed signs of cooling down. The rate hike pause announced by the Fed failed to cheer the market as the Fed made it clear that it will not refrain from taking tough steps in the coming months to tackle inflation. We can expect the market to remain choppy if the hawkish stance on monetary policy continues,» Shivam Thakral, CEO of BuyUcoin, said. The global cryptocurrency market cap was trading around $1.04 trillion, rising 1.22% in the last 24 hours.