- Several institutions have decided to use Ripple services for their payment needs. among them is the national Bank of Egypt, which announced the launch of a new service for transferring money from Egypt to the united arab emirates using ripplenet technology. Ripple also announced a partnership with Bhutan National Bank, which will use Ripple's on-demand liquidity (ODL) solution to provide access to global markets and support sustainable development. This news indicates that Ripple continues to expand its network and attract new customers, which has a positive effect on the demand for XRP.
- Ripple hosts its annual swell event, which brings together leading experts and leaders in financial technology to discuss the future of the payments industry and the role of cryptocurrencies in it. The event began on November 6 and will last until November 8. The event is expected to feature new products and initiatives from Ripple, as well as speeches from high-profile guests such as Ripple CEO Brad Garlinghouse, former US President Bill Clinton, former UN Secretary General Ban Ki-moon and others. The swell event traditionally generates a lot of interest among the XRP community and could become a catalyst for further growth in the XRP price.
- Ripple continues to wage a legal battle with the us securities and exchange commission (SEC), which accuses the company of illegally selling XRP as securities. Ripple recently filed a motion to question former SEC Director William Hinman, who said in 2018 that Ethereum is not a security. Ripple hopes that Hinman's interrogation will help prove that XRP is also not a security and that the SEC did not provide clear guidelines on the classification of cryptocurrencies. Ripple also received support from former US regulator Joseph Hull, who said that the SEC had no basis for indicting Ripple and that XRP is a currency, not a security. This news raises hopes that Ripple will be able to win in court or reach a settlement with SEC, which will remove the legal uncertainty surrounding XRP and allow it to regain its position in the us market.
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