Ripple
Ripple gains preliminary MiCA approval in Luxembourg
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Ripple announced on June 23 that it received a preliminary green light from Luxembourg regulators for a crypto-asset service provider license under the EU's MiCA rules. The approval would allow the company to offer stablecoin payment services across the European Economic Area once finalized. The move pairs with a recent investment in African payments firm Flutterwave to expand RLUSD use.
Ripple has invested in African fintech company Flutterwave during its Series E funding round. The deal values Flutterwave at $3.2 billion and will integrate Ripple's RLUSD stablecoin along with the XRP Ledger into cross-border payments.
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Ripple announced that its dollar-backed stablecoin RLUSD is now available to institutional clients in Turkey through three local cryptocurrency platforms.
Derivatives trading for XRP on the BitMEX exchange has seen a sharp increase, with futures volume rising 1,185% in the past day amid market uncertainty. This surge coincides with a broader pullback in cryptocurrency prices, including a 2.14% drop for XRP to $1.36. Traders appear to be repositioning as they await further developments in the financial markets.
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Social media discussions about an altseason have reached historic lows, according to blockchain analytics firm Santiment. The firm suggests that such periods often precede rallies in altcoins. XRP, as a leading altcoin, stands to gain if this pattern holds.
Ripple CEO Brad Garlinghouse has been appointed to the U.S. Commodity Futures Trading Commission's Innovation Advisory Committee, coinciding with an over 8% rise in XRP's price to around $1.53. The committee, now expanded to 35 members, aims to advise on digital asset frameworks. This development signals growing collaboration between crypto industry leaders and regulators.
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The XRP token increased by more than 4% on February 14, reaching its highest level in over a week. This rebound, which exceeds 30% from its year-to-date low, aligns with broader cryptocurrency market gains following positive US inflation data. The surge also ties to growth in Ripple's USD stablecoin after its Binance listing.
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