$XRP Here are some of the latest news related to XRP as of January 31, 2025:
1. XRP Price Drop After SEC Appeal
In October 2024, XRP price dropped significantly by 11% after the US Securities and Exchange Commission (SEC) appealed a previous court ruling in favor of Ripple. The appeal raised uncertainty among investors, although XRP adoption in Brazil continued to grow.
2. XRP Price Increase by 437% in a Month
In December 2024, XRP recorded a 437% price surge in a month, reaching the $2.8 level for the first time since January 2018. This increase was driven by regulatory changes in the US, accumulation by large investors (whales), and anticipation of the launch of the RLUSD stablecoin by Ripple Labs.
3. Bitwise XRP ETF Filing
Bitwise Asset Management filed to launch an XRP-focused ETF in October 2024. However, analysts at Kaiko stated that the chances of SEC approval for this ETF are still low, given the ongoing regulatory challenges.
4. Ripple’s Partnership with Mercado Bitcoin
Ripple has partnered with Mercado Bitcoin, Latin America’s largest crypto exchange, to improve cross-border payments between Brazil and Portugal. The move reflects Ripple’s efforts to expand its global reach despite facing legal challenges in the US.
These developments reflect the market dynamics and regulatory challenges facing XRP. Investors are advised to continue monitoring the latest news and consider the risks involved before making any investment decisions.
