In a recent publication, California-based fintech firm Ripple has revealed that its global $XRP -powered global proprietary payments solution, RippleNet, has processed nearly $30 billion across approximately 20 million transactions since launch.

The publication was first pointed out by pseudonymous XRP community influencer, WrathofKahneman, who praised the payment solution’s achievements. The publication details that the firm’s payment solution offers a variety of services designed to facilitate more efficient treasury flows, including access to its extensive global network that spans numerous countries such as India, Brazil, the UAE, Mexico, Singapore, the UK, and others.

The regions served by Ripple’s network are responsible for a significant portion of global remittance volume, with India and Mexico leading the way in remittance inflows during 2022, at $100 billion and $60 billion respectively. India has consistently topped the list for the past 15 years, the publication details.

Ripple also emphasized the expansion of its payment solution to nearly 70 payout markets worldwide, which account for up to 90% of the global foreign exchange market.

The guide also unveiled that Ripple processed over $1 billion in transaction volume in the Asia-Pacific (APAC) region, which includes countries like India and Singapore, during the first quarter of 2022 alone.

RippleNet, it’s worth noting, uses the XRP token for its On-Demand Liquidity (ODL) solution, but not for every service it offers.

According to the firm’s website, RippleNet offers “connections to hundreds of financial institutions around the world via a single API” to make moving money ”faster, cheaper and more reliable.” The ODL solution leverages the XRP token to “source liquidity during cross-border transactions, as an alternative to traditional systems.”

It’s unclear how much of the processed volume has been influenced by the cryptocurrency, which currently has a market capitalization of $46.7 billion according to CryptoCompare data.

The value of XRP has notably been affected by the U.S. Securities and Exchange Commission’s (SEC’s) lawsuit against Ripple and two of its executives, alleging they “raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.” 

The lawsuit hasn’t been resolved yet. As CryptoGlobe reported, according to popular cryptocurrency analyst Ali Martinez, the native token of the XRP Ledger could soon see a 73% surge to the $0.80 mark if it can secure a 3-day candlestick close above the $0.46 level.

Last month, XRP’s price bucked a bearish trend in the wider cryptocurrency sector as  Ripple’s Chief Legal Officer Stuart Alderoty explained that the most recent ruling in the case left him feeling more confident than ever about Ripple’s chances of winning.

#Binance #crypto2023 #xrp #ripple #xrparmy

- Ripple CEO Brad Garlinghouse responds to speculation regarding the potential introduction of an XRP Exchange Traded Fund (ETF).
- Garlinghouse emphasizes the importance of transparency in cryptocurrency regulations, citing recent developments with the SEC.
- Ripple's XRP has seen a 1.61% rise in the last day, signaling potential movement beyond current resistance levels.

In response to rumors surrounding the potential approval of an XRP spot Exchange Traded Fund (ETF), Ripple CEO Brad Garlinghouse shared his perspective during an interview with Bloomberg Television. Garlinghouse emphasized the need for clearer cryptocurrency regulations while remaining optimistic about the possibility of an XRP ETF launch, drawing parallels to historical market diversification strategies.
Throughout the interview, Garlinghouse expressed optimism regarding the prospects of an XRP ETF approval, citing the recent approval of a Bitcoin spot ETF as a positive indicator. Although he refrained from confirming the rumors, he expressed Ripple's support for such an initiative, foreseeing the inevitability of multiple ETFs covering different tokens.
Garlinghouse took the opportunity to reflect on Ripple's recent legal victory over the Securities and Exchange Commission (SEC), characterizing it as a significant milestone towards transparency in crypto regulations. He criticized the SEC's enforcement-focused approach, stressing the importance of clear industry guidelines.
Highlighting Ripple's legal battles with the SEC, Garlinghouse underscored the courts' consistent rulings against the agency and their affirmation that XRP does not qualify as a security. He expressed hope for regulatory clarity in the future, either through the SEC's recognition or congressional intervention.
Regarding XRP's price movement amidst ETF rumors, Ripple experienced a slight increase in value over the past 24 hours, with bullish trends observed on shorter timeframes. The potential approval of an XRP ETF could further impact price dynamics, with the possibility of a breakout from resistance levels.
In conclusion, Ripple's current price stands at $0.5403, reflecting fluctuations over the past 24 hours and a slight increase over the week. The cryptocurrency market remains highly volatile, and readers are advised to conduct their own research and exercise caution when making financial decisions.

#ripple #XRPPricePrediction #xrpetf #SEC #cryptocurrency
$XRP

XRP price has come under intense pressure in the past few days as the recent crypto comeback started fading. Ripple dropped to a low of $0.4384, which is about 21% below the highest point this month, meaning it has moved to a bear market. 

Why is Ripple falling?

XRP price is falling because of its close correlation with Bitcoin, the biggest cryptocurrency in the world. In most periods, altcoins like XRP and ADA tend to rise when Bitcoin is rising and vice versa. Therefore, since there have been no major Ripple news, we can cite the recent decline to the overall decline of BTC. 

This price also mirrors the performance of American stocks. The Nasdaq 100 index has moved sideways in the past few days and is about 1.78% below the highest point this month. In most periods, cryptocurrencies also have a correlation with American stocks.

The next key Ripple news to watch will be the upcoming verdict in the ongoing civil lawsuit by the Securities and Exchange Commission. The SEC alleges that Ripple violated securities laws when it sold XRP to investors without registering with the agency.

It is still unclear when the judge will deliver the court’s verdict. It is also unclear how XRP will react to the verdict. However, I believe that the end of the case will be positive for Ripple because I suspect that the outcome will be a fine or an exoneration.

Meanwhile, Ripple recently launched the Ripple Liquidity Hub as it seeks to provide more solutions to businesses. The service is making it possible for businesses to access simple and seamless ways to manage liquidity needs. It is also enabling people to manage fiat, cryptocurrencies, and CBDCs among others.

The 4H chart shows that the Ripple price has dropped sharply after hitting the key resistance point at $0.5826 on March 29. The coin has flipped the key level at $0.5568 from a support into a resistance. It has moved to the 25-day and 50-day exponential moving averages. Ripple has moved slightly above the key support at $0.4326, the highest point on January 22. 

It has also formed a small bearish pennant pattern. Therefore, for now, there is a likelihood that the coin will have a bearish breakout as sellers target the key support level at $0.400, which is about 12% below the current level.

#Binance #crypto2023 #xrp #ripple #Altcoin

CryptosHeadlines.com - The Leading Crypto Research Network:

A legal expert has warned that Ripple’s victory in its case against the SEC “May be Short-Lived” due to the shaky ground on which the district court ruling rests.

Lawyer Bryan Jacoutot, an attorney at Election Law Group and Taylor English Duma, shared his analysis of the U.S. Securities and Exchange Commission (SEC) v. Ripple case on Twitter. Apart from specializing in general litigation and election law, he is actively involved in building Taylor English Duma’s Bitcoin practice group.

The district court ruling on XRP appears shaky, and an appeal is expected.

The lawyer clarified that the court ruled Ripple’s sale of XRP to institutional investors as an unlawful security sale. With Ripple having received nearly a billion dollars from these sales, the lawyer predicts that the crypto firm might be required to return or disgorge the funds, in addition to paying penalties and fines.

Additionally, the lawyer highlighted that the court found XRP to not be considered a security in the context of its “programmatic sale” to random individuals, as it did not meet the criteria of an investment contract under Howey.

Jacoutot expressed his opinion that the court’s reasoning is weak. He disagreed with the court’s reliance on the fact that buyers didn’t know if the XRP came from Ripple. In his view, under Howey, it is crucial to consider whether buyers expected profit based on Ripple’s efforts, which he believes is evident in the case of XRP, as buyers expected its value to increase (i.e., “moon”).

XRP ruling could impact Ethereum

The lawyer highlighted the similarities between the pre-sale of ETH and the way Ripple sold its “pre-mine,” and said that this could make Ethereum vulnerable to SEC scrutiny.

The lawyer highlighted the court’s ruling regarding institutional buyers acquiring unregistered securities, and said that this could apply to Ethereum.

In conclusion, the lawyer cautioned that while he doesn’t want to diminish the win for Ripple and XRP supporters, it might be a short-lived victory as he believes the judge got the law wrong.

The lawyer concluded by pointing out that even if the judge’s ruling was correct, numerous projects, including Ethereum, could still be vulnerable to similar issues. He highlighted that the court left open various other complex securities-related questions.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

$XRP #XRP #ripple #sec

The #XRP community is expressing increasing concern about the token's slow performance in the market. Mack, a well-known member of the XRP community, recently expressed his annoyance about the poor performance of XRP. In a call for direct action targeting key figures in the Ripple ecosystem, including Ripple CEO Brad Garlinghouse and Ripple CTO David Schwartz, Mack stressed the urgent need for decisive steps to address the situation.underlining the growing unrest and frustration among the owners, he cited the Decelerating growth of the Token in terms of price as a primary concern. Mack's message underscores the community's call for concrete action to improve the performance of XRP and address the concerns of its owners.Analysis of the Performance of XRPXRP has experienced significant price fluctuations, with its value falling from $ 0.93 to its current trading price of $ 0.5215. This decline reflects the challenges facing the cryptocurrency market, including broader market downturns and the ongoing legal battles that Ripple is facing.Several factors contribute to the poor performance of XRP. The broader downturns in the market have affected investor sentiment and contributed to the decline in demand for cryptocurrencies, including XRP. In addition, Ripple's legal challenges, including its ongoing lawsuit with the US Securities and Exchange Commission (SEC), have created uncertainty about the future of the company and the related token. Oct.Community Feedback and Future ExpectationsThe XRP community has actively responded to Mack's call for action, with many members expressing their concerns to him and calling for quick action by key figures in the Ripple ecosystem. There is a sense of solidarity among XRP holders, who collectively advocate taking measures to improve the token's performance and address their concerns.Dec.In general, opinions within the XRP community are mixed, which reflects various perspectives on the current state of the token. While some remain optimistic about XRP's long-term potential and the underlying technology, others are being more cautious, expressing doubts about the token's ability to recover after the current crisis.Despite the challenges facing XRP, there is optimism about the future. Community-oriented initiatives are underway to address concerns and promote positive change in the Ripple ecosystem.#ripple #binance #crypto2023

Ripple, the company specializing in cross-border payment transfers, has announced that its liquidity hub product will no longer include XRP as an asset. Although Ripple provided a rationale for the decision, members of the XRP community believe that it was motivated by the company's anticipation of an SEC victory in the ongoing legal dispute.

Ripple has developed a ready-to-use platform for liquidity and international payouts, known as the Liquidity Hub, which is designed to meet the needs of corporations and enterprises. However, the recent removal of XRP from its list of supported assets has caused concern among XRP holders.

To address the concerns of XRP holders, the cross-border payment transfer company has offered an explanation. Ripple stated that they will evaluate XRP alongside other tokens once there is regulatory clarity. However, this statement has generated further questions within the XRP community, with some speculating that Ripple may be anticipating a defeat in the ongoing SEC lawsuit.

twitter Jesse Hynes @jesse_hynes

Commenting on this issue, lawyer Bill Morgan shared his perspective on Ripple's decision and the resulting Fear, Uncertainty, and Doubt (FUD).

According to lawyer Bill Morgan, although he is not familiar with the Liquidity Hub product, he believes that Ripple's decision to remove XRP is not related to its legal team anticipating a defeat in the ongoing SEC case. Instead, Morgan suggests that Ripple's legal team may be expecting a delay in the outcome of the lawsuit or for the case to go to trial, which could extend into 2024 or beyond.

This delay would mean that XRP remains in a gray area without clear regulatory guidance. Consequently, Ripple may have decided to minimize potential intervention from US Securities Laws in its Liquidity Hub product while awaiting further clarity on XRP's status as a security in the ongoing lawsuit.

twitter : bill morgan @Belisarius2020

Overall, the article discusses the recent decision by Ripple to remove XRP from its Liquidity Hub product, causing concern among XRP holders. While Ripple has provided an explanation for the move, some members of the XRP community speculate that it is related to the ongoing SEC lawsuit against the company. However, lawyer Bill Morgan suggests that Ripple's legal team may be anticipating a delay in the lawsuit outcome or for the case to go to trial, leading Ripple to minimize potential intervention from US Securities Laws in its Liquidity Hub product. The uncertainty surrounding XRP's regulatory status remains a source of concern for the XRP community, emphasizing the need for further clarity in the ongoing legal dispute.

#xrp #ripple #crypto2023 #Binance #dyor

Disclaimer: The information provided in this article should not be considered as trading advice. Crypto Daily Digest assumes no responsibility or liability for any investment decisions made based on the information provided on this page. We strongly advise readers to conduct independent research and seek the advice of a qualified professional before making any investment decisions. The use of the information presented in this article is at the reader's own risk.