Ripple Continues Global Expansion Post-SEC Ruling As XRP Faces Resistance Read CoinChapter.com on Google News
NOIDA (CoinChapter.com)— The recent Ripple vs. SEC case judgment marked a significant moment for Ripple Labs, with the court partially ruling in favor of Ripple. The ruling, delivered by District Judge Analisa Torres, found that Ripple’s sales of XRP on public exchanges did not constitute securities transactions.
The judgment has been instrumental in propelling Ripple’s global expansion efforts, as the company leverages this legal clarity to strengthen its presence across international markets. Despite the sluggish U.S. regulatory environment, Ripple seems to be moving towards solidifying its position globally, forming strategic partnerships and collaborations.
Global Expansion A Strategic Move Amid SEC Pressures
Since the partial victory in the SEC lawsuit, Ripple has aggressively expanded its operations outside the U.S., which seems both strategic and necessary given the SEC’s ongoing scrutiny.
This expansion can be seen as Ripple’s calculated response to a regulatory environment in the U.S. that remains ambiguous and hostile. Ripple ensures it remains resilient despite potential future setbacks in its home market by bolstering its presence in regions like South America, Europe, Asia, and Africa.
Ripple continues its expansion plans.
The momentum of Ripple’s global ventures emphasizes its intent to diversify its geographical footprint. For example, in South America, the fintech firm’s CBDC Platform has gained traction, particularly with the Bank of Colombia deploying and testing its CBDC on this platform.
Similar moves in Europe, such as the partnership with Clear Junction for EU-UK cross-border payments and Montenegro’s central bank selecting Ripple’s CBDC Platform, further highlight Ripple’s strategic pivot away from reliance on the U.S. market.
These collaborations could help enhance Ripple’s credibility and provide the company with a shield against the uncertainties posed by the SEC.
However, it seems Ripple’s expansion isn’t just about survival but about capitalizing on the growing global demand for innovative financial infrastructure. In Asia, the firm’s partnership with SBI Remit to facilitate cross-border XRP remittances demonstrates the token’s utility in real-world applications.
The company’s ventures into Africa and Oceania, including partnerships with major financial institutions and even central banks, further illustrate Ripple’s expansion plans, regardless of U.S. regulatory challenges.
XRP Price Rally Halts
Meanwhile, XRP price rally seems to have lost fuel, with the XRP USD pair moving laterally. The token seems to be facing trouble holding above $0.6, suggesting an abundance of bears near the price level.
However, breaking above the price level could infuse some confidence in XRP’s price action, helping the XRP USD pair start a rally and leading the token to resistance near $0.626. Moreover, flipping the immediate resistance would help the token price target the resistance near 0.664.
XRPUSD daily price chart with RSI. Source: Tradingview
However, if the rally fails, XRP price risks dropping to the 20-day EMA (red wave) support near $0.58. Failure of the immediate support level might result in the token testing the 200-day EMA (green wave) and 100-day EMA (blue wave) support confluence near $0.55.
The RSI for XRP remained neutral, with a score of 56.74 on the daily charts.
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