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Ripple's XRP has rebounded, reaching a high of $2.50 while remaining below the $2.80 resistance level. Currently trading above the 21-day SMA, the cryptocurrency faces upward pressure but risks falling to $1.96 if the support is breached. Key resistance levels are noted at $1.40 and $1.60, with support at $1.00 and $0.80.
Ripple's new stablecoin, RLUSD, has seen significant activity with over 20.7 million tokens transferred in the past 24 hours. Launched in December after a closed beta, RLUSD aims to enhance cross-border B2B payments and is fully backed by USD reserves. Ripple President Monica Long anticipates increased adoption across platforms and expects the SEC to approve more crypto ETFs, including an XRP ETF, in 2025.
Ripple's ongoing legal battle with the SEC, initiated in December 2020 over allegations of unregistered securities sales of XRP, has seen accusations of unethical tactics from the agency, including harassment of Ripple's CEO. While Ripple has achieved some partial victories, including a recent ruling favoring its retail sales, the SEC's appeal has delayed a final resolution. Changes in SEC leadership could potentially benefit Ripple, but the complexity of the case warrants cautious optimism.
Coinbase has secured a stay order in its legal battle with the SEC, as Judge Katherine Failla approved an interlocutory appeal, pausing proceedings until the Second Circuit reviews the case. The lawsuit questions whether certain cryptocurrency transactions on Coinbase qualify as securities under U.S. law, with Coinbase arguing that the assets do not meet this definition. The ongoing legal uncertainty is further complicated by conflicting court rulings, including the Ripple case, and potential shifts in SEC leadership that may influence future regulatory approaches.
Ripple's recent partnership with Chainlink to enhance the RLUSD stablecoin's DeFi capabilities on Ethereum has sparked discontent among some in the XRP community, who feel Flare should have been the chosen partner. Flare Labs CEO Hugo Philion clarified that Flare currently does not provide oracles to other networks, focusing instead on staking and DeFi incentives for bridged assets. This has raised questions about Flare's future prospects in the competitive DeFi landscape.
Ripple has partnered with Chainlink to enhance the adoption of its RLUSD stablecoin in decentralized finance, integrating Chainlink’s oracle network for secure price data on Ethereum and the XRP Ledger. This collaboration aims to position RLUSD as a compliant stablecoin amid regulatory shifts in Europe, with growing transaction activity indicating increasing interest. Ripple's focus on reliable pricing and institutional DeFi applications underscores its commitment to delivering secure, enterprise-grade solutions.
Ripple has partnered with Chainlink to enhance its RLUSD stablecoin by integrating secure, on-chain data feeds. This collaboration aims to provide accurate pricing data essential for DeFi applications, positioning RLUSD for broader adoption across financial platforms. With a current market cap of $77 million, RLUSD operates on both the XRP Ledger and Ethereum, leveraging Chainlink's decentralized infrastructure for reliable data.
U.S. CFTC Chairman Rostin Behnam warned of significant regulatory gaps in the cryptocurrency market and announced his resignation effective January 20. Meanwhile, AI startup Anthropic is seeking $2 billion in funding, potentially raising its valuation to $60 billion. In other news, major Spanish banks are developing frameworks for cryptocurrency ETPs, and Telegram has increased its compliance with U.S. authorities, providing data on over 2,000 users in 2024.
Ripple has partnered with Chainlink to enhance its RLUSD stablecoin's presence in decentralized finance, utilizing Chainlink’s decentralized oracle network for reliable price feeds on Ethereum and XRP Ledger. This collaboration aims to facilitate RLUSD's integration into lending and trading platforms, ensuring robust market data and cross-chain functionality.Recently, Ripple Treasury minted 1.79 million RLUSD on Ethereum, with significant transfers occurring, while the stablecoin maintains a 1:1 peg to the US dollar, backed by substantial reserves. CEO Brad Garlinghouse revealed Ripple's XRP holdings exceed $100 billion, impacting the company's valuation and signaling a focus on organic growth amidst a positive regulatory outlook for crypto.
Ripple has integrated Chainlink's pricing standard for its RLUSD stablecoin, enhancing its utility in decentralized finance (DeFi) by providing accurate on-chain pricing data. This collaboration aims to improve the reliability and stability of RLUSD, facilitating its adoption in institutional and decentralized markets. As the cryptocurrency market rallies, Ripple's XRP has surged 18% in a week, reflecting growing interest in its stablecoin initiatives.
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