Ripple Scores 3 Major Wins That Could Drive XRP Price To $1
October 04 2023 - 9:00AM
NEWSBTC
Certain events have been touted as being able to impact the XRP
price significantly. Some of these events already seem to be
happening, raising the hopes of the XRP community that the token
could indeed hit $1 before the year runs out. Ripple Expands
To Singapore In a statement released on October 3, Ripple announced
that its subsidiary had secured a Major Payments Institution (MPI)
license from the Monetary Authority of Singapore (MAS). This
announcement comes four months after the company received its
in-principle approval from the regulator. Related Reading:
XRP Price Disappoints: Crypto Analyst Reveals Why He Will No Longer
Accumulate Following this announcement, Ripple is fully licensed to
provide “regulated digital payment token services in Singapore.”
Ripple’s CEO Brad Garlinghouse also confirmed this development on
his X (formerly Twitter) platform. With Singapore already
housing Ripple’s Asia Pacific headquarters, this move undoubtedly
provides the company with momentum to continue expanding to
countries in the region (which the company considers one of its
fastest growing regions) for the adoption of its “crypto-enabled
payments solutions.” Ripple is already enjoying significant success
in Asia, with banks in countries like Japan, China, South Korea,
Philippines, Indonesia, and Vietnam adopting the company’s
cross-border payment service. Specifically, Japan is believed to
have contributed significantly to the trading volume in the XRP
ecosystem, with the token enjoying massive adoption among
locals. Ripple Secures Another Victory Against The SEC
Meanwhile, the crypto firm has more reason to celebrate following
another significant victory in its ongoing legal battle against the
US Securities and Exchange Commission (SEC). In an order given on
October 3, Judge Analisa Torres denied the SEC’s motion for
certifications of its interlocutory appeal. As to the reason for
the denial, she noted that the SEC “failed to meet its burden to
show that such an appeal would materially advance the ultimate
termination of the litigation.” Instead, she reasoned that granting
the application could further prolong the action as the
interlocutory appeal could open the door to other appeals from a
dissatisfied party. Related Reading: Crypto CEO Very Bullish
On XRP Price, Sets Make Or Break Point Instead, she stated that the
litigation will likely be “expeditiously advanced” if they advance
to trial and then appeals come after. That way, the appellate court
can review the case based on a complete record rather than
considering disjointed legal and factual issues. In line with this,
she set April 23, 2024, as when the trial is set to commence.
XRP Price Looks Good As Ripple Enters Top 100 Fintech Of 2023
Ripple’s President Monica Lang recently reiterated the company’s
intention to continue to expand globally in its bid to disrupt the
global financial architecture. The company’s efforts have not gone
unnoticed as it recently announced that CB Insights ‘Fintech 100’
for 2023. Related Reading: Pro-XRP Lawyer Reveals The Impact Of
SEC’s Lawsuit Against Ripple This recognition is an annual list
compiled by private equity company CB Insights and comprises the
“100 most promising private fintech companies in the world.” The
XRP price has reacted positively to these developments as it is
currently trading at $0.5317, up about 4% in the last 24 hours,
according to data from Coinmarketcap. XRP recovers following court
ruling | Source: XRPUSD on Tradingview.com Featured image from
Outlook India, chart from Tradingview.com
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