Ripple Wins SEC, XRP Poised To Run

Posted on January 12, 2025 by Olumide Adesina

The Ripple-based token entered showed high positivity after Ripple’s minor win in its ongoing legal battle with the SEC.

A federal judge approved an administrative motion to file certain documents under seal to protect sensitive information in the ongoing legal battle on January 11. XRP looks poised to rise 50% in the coming days after breaking out of its prevailing bullish run after posting a 10% gain on Saturday

The judge specifically agreed to seal documents linked to Ripple’s motion for summary judgment that contained sensitive, private, and personally identifiable information.

The decision challenges important decisions in the Ripple case, and the SEC has until January 15 to submit its opening brief in support of the appeal. The SEC announced plans to challenge the Summary Judgment in its Notice of Appeal in October, citing Judge Analisa Torres’ ruling that XRP’s regular sales did not satisfy the requirements of the Howey Test.

The financial watchdog seems determined to pursue the appeal even though SEC Chair Gary Gensler is leaving on January 20 and former Commissioner Paul Atkins is anticipated to succeed him. Perhaps to maintain case continuity, Gensler promoted senior crypto-enforcement attorneys in December 2024.

Judge Analisa Torres’ ruling that XRP’s regular sales did not satisfy the requirements of the Howey Test was one of the plans the SEC disclosed in its October Notice of Appeal to challenge the Summary Judgment. Because of this appeal, the price of XRP has fluctuated since July 2023.

SEC Chair Gary Gensler is expected to leave on January 20 and be replaced by former Commissioner Paul Atkins despite the agency’s apparent commitment to pursuing the appeal. Gensler promoted senior crypto-enforcement attorneys in December 2024, possibly to maintain case continuity.

PayPal Stablecoin: PYUSD integrated into U.S Banking System

Posted on January 12, 2025January 12, 2025 by Olumide Adesina

PayPal USD (PYUSD) has been integrated by FV Bank for external payments and direct deposits, enabling immediate conversion to US dollars. All holders of FV Bank accounts can now access PYUSD. FV Bank is a fully licensed and regulated U.S bank

PYUSD provides FV Bank clients with an extremely effective and liquid stablecoin option for immediate payment and direct deposit requirements.

FV Bank account holders won’t have to mint the stablecoin or keep track of an external digital wallet to send outbound payments to beneficiaries in PYUSD. Customers can start PYUSD payments from their USD accounts utilizing FV Bank’s real-time processing capabilities.

FV Bank will automatically debit USD, mint PYUSD as needed, and send it to the beneficiary almost instantly.

The stablecoin feature includes the ability to instantly convert PYUSD into the greenback by cutting down on the processing times and related costs of conventional bank wire transfers.

Miles Paschini, CEO of FV Bank, stated, “The integration of PYUSD deposits and payments, along with auto-conversion to and from USD, is another important accomplishment in our commitment to provide the most comprehensive integrated banking service for our global customers.”

FV Bank is now one of the few regulated financial institutions in the United States to provide blockchain-powered payment rails with comprehensive stablecoin on-ramp and off-ramp services thanks to this new deposit and payment option. ”

FV Bank’s direct deposit and payments service gives its customers an additional choice when- transacting through their USD account. This feature is integrated with blockchain analytics tools to pre-screen and detect transactions potentially linked to sanctions or AML activities.

XRP Shoots Like SpaceX, Japanese Banks use Ripple

Posted on January 12, 2025January 12, 2025 by Olumide Adesina

Ripple’s bull is on the rampage once again. The token is up 10% in the past day, trading at $2.5635 on Sunday morning.

This was the biggest gain in a single day since January 1. The third most valuable crypto asset now has a market valuation of $148 billion. Ripple whales spent over $2 billion to amass over a billion tokens in the past week, causing a significant supply shock for the asset.

On-chain metrics show that investors have taken out a substantial 13 million XRP tokens from exchanges in the last day, underscoring the ongoing accumulation by long-term holders. This continuous accumulation may provide XRP with significant support during its rally.

In addition to long-term holders, trader participation has increased dramatically. XRP’s open interest has increased by 31% since the breakout, affirming traders are actively participating in the market movement.

Markets remain extremely optimistic about XRP, forecasting significant price increases and possibly new all-time highs, particularly if it holds onto the $2.5 support line and overcomes the $2.72 is next.

XRP is integrated into the banking systems of over 50% of Japanese banks. SBI Holdings is spearheading this initiative and supports XRP’s On-Demand Liquidity solution, which leverages XRP to facilitate rapid and affordable international transfers.

The CEO of SBI Group, a major player in the Japanese banking sector, Yoshitaka Kitao, has expressed strong support for XRP and emphasized its use for international remittances.

Widespread use of XRP by Japanese banks could enhance their cross-border payment and foreign exchange systems, improving customer efficiency and transaction speed.

Financial institutions such as Santander in the UK, Itaú Unibanco in Brazil, Kotak Mahindra Bank in India, and CIBC in Canada have partnered with XRP to speed up their cross-border operations.

XRP Legal Battle Begins On Wednesday

Posted on January 10, 2025 by Olumide Adesina

The SEC, the US Securities and Exchange Commission, has until January 15, 2025, to submit its initial brief on the Ripple case. The court had previously decided that XRP was not a security in and of itself when the appeal was filed.

The financial watchdog contesting some of the ruling’s findings, including how Ripple’s XRP sales on cryptocurrency exchanges and the private XRP sales of Chris Larsen and Brad Garlinghouse, two of the company’s executives, should be categorized. The upcoming brief will most likely revolve around those arguments.

SEC chair Gensler, who has spearheaded the agency’s vigorous targeting of the cryptocurrency sector, will resign on January 20. Donald Trump, the president-elect, will take office on the 20th.

Gary Gensler will be replaced as SEC Chair by Paul Atkins, suggesting possible adjustments to the agency’s stance on crypto regulation. The case may likely be resolved given Gensler’s departure.

Media reports predict that the SEC may cut back on or drop some crypto lawsuits. The SEC may instead prefer settlements, also known as “consent decrees,” which provide industry clarity and permit negotiated resolutions.

These settlements may help the industry meet regulatory requirements without completely abandoning cases by encouraging the SEC to create more precise guidelines and regulations.

Brad Garlinghouse, the CEO of Ripple, voiced optimism, pointing out that Atkins could “bring common sense back to the agency.”. “XRP may solidify its non-security status and possibly start a bullish price trend if the SEC withdraws its appeal as a result of this leadership change.

U.S. Congressman Keeps XRP, Bitcoin & Solana

Posted on January 10, 2025January 10, 2025 by Olumide Adesina

U.S. Congressman Guy Reschenthaler (R-Pa) recently revealed his crypto holdings. The 41-year-old US lawmaker owns Bitcoin, Solana (SOL), and XRP. Mike Collins (R-Ga) revealed that he acquired Ski Mask Dog (SKI). Nine of the 11 members of Congress who owned cryptocurrency were House representatives, according to a 2021 Wall Street Journal report.

Senator Cynthia Lummis (R-Wyo) will lead this committee. She infamously proposed a bill requiring the Treasury to buy a staggering one million Bitcoins over five years.

Ripple’s leader, Brad Garlinghouse, recently called the U.S Congress “the most pro-crypto” in history.

Republicans controlled both chambers for the first time in six years. Mike Johnson, who supports Trump, was re-elected as the first-ballot US House Speaker on Friday by a vote of 218–215. The cryptocurrency community, including the CEO of Ripple, was quick to commend the new administration.

The 70-year-old lawmaker stated that she made her first Bitcoin purchase in 2013. The House Ethics Committee released a memo in 2018, mandating that members of the House report any cryptocurrency holdings exceeding $1,000.

However, Senator Elizabeth Warren (D-Mass), stated cryptocurrency investing is “a terrible conflict of interest” for legislators. She expressed her satisfaction that there aren’t many members of Congress who own cryptocurrency.

Bitcoin Strategic Reserve Proposed To Facebook

Posted on January 10, 2025 by Olumide Adesina

Ethan Peck, a shareholder in Meta, Facebook’s parent company, proposed that the social media company convert some of its $72 billion in cash and short-term cash equivalents to Bitcoin to protect itself from currency devaluation.

Bitcoin has outperformed bonds by 1,262 percent over the last five years, according to Peck, who noted that inflation is causing Meta to lose 28% of its cash assets over time.

Peck works for The National Center for Public Policy Research, a think tank that advocates for free market policies based in Washington, DC. The group presented bITCOIN proposals to Microsoft and Amazon shareholders in 2024

“Mark Zuckerberg named his goats ‘Bitcoin’ and ‘Max,'” Peck added in the proposal. ‘Aren’t Meta shareholders entitled to the same prudent asset allocation for the company that Meta executives and directors probably do for themselves? he added.

Microsoft shareholders rejected the Bitcoin Strategic Reserve proposal put forth by the Washington, DC-based company. The same Bitcoin corporate treasury diversification plan was presented to Amazon shareholders on April 9, 2024, by the National Center for Public Policy Research, for their consideration at the April 2025 shareholders meeting.

. According to the proposal, the organization claimed that the Consumer Price Index (CPI), which is a measure of inflation based on baskets of household goods, is an inadequate indicator of inflation and that the real rate of inflation is twice that of the CPI.

Ripple’s RLUSD Plans Listing on Binance, Coinbase

Posted on January 10, 2025 by Olumide Adesina

Ripple’s stablecoin plans to debut “imminently” on bigger cryptocurrency exchanges like Coinbase or Binance after debuting a few smaller ones last month.

Customers “can expect to see more availability and more announcements coming soon,” according to Monica Long, president of Ripple.

“In 2025, we are continuing to focus on global expansion by building additional partnerships with leading exchanges and integrations across new blockchains and decentralized applications,” confirmed Jack Mcdonald, senior vice president of stablecoins at Ripple, in an email to Fortune.

Ripple’s stablecoin, RLUSD debuted in December. 17 on Uphold, Bitso, MoonPay, Archax, and CoinMENA, following the New York Department of Financial Services’ eagerly anticipated regulatory approval.

A wider spectrum of American investors would have access to RLUSD if listed on bigger exchanges like Coinbase or Binance., speeding up the adoption rate. McDonald stated in the email, “We’ve seen incredible momentum since the launch of RLUSD, less than a month ago.”.

Bitstamp, the oldest cryptocurrency exchange, launched RLUSD. RLUSD has had a “fast start” on the exchange and has drawn “meaningful volume” within 24 hours of its launch, according to Bobby Zagotta, CEO of Bitstamp US, even though Bitstamp is smaller than Coinbase or Binance.

stablecoins are tagged the “killer app” of cryptocurrency or an essential component of the crypto economy.

Cross-border payments and value storage in nations where local currency is susceptible to inflation are two common uses for stablecoins. As a result, financial services firms are rushing to create their dollar-pegged asset to collect interest and transaction fees.

Forex Signals Brief January 10: Strong NFP Would Accelerate USD Uptrend

Posted on January 10, 2025January 10, 2025 by Skerdian Meta

Today NFP jobs are expected to fall to 160K, so anything above 200K would be taken as positive and increase the odds of a less dovish FED, which would send the USD higher.

Continue reading “Forex Signals Brief January 10: Strong NFP Would Accelerate USD Uptrend” →

Standard Chartered Secures European Crypto license

Posted on January 10, 2025 by Olumide Adesina

Standard Chartered acquired a digital asset license in Luxembourg and is launching cryptocurrency services in Europe.

The bank declared that it would create a new company in Luxembourg to serve as its regulatory entry point into the European Union for providing custody services for digital assets and cryptocurrency.

A significant crypto regulatory framework in the EU was taken following the adoption of the Markets in Crypto-Assets (MiCA) Regulation. The CEO of Standard Chartered’s Luxembourg division will be Laurent Marochini, a former head of innovation at the French financial giant Société Générale.

Crypto custody, or the service for keeping and safeguarding digital assets on behalf of their owners, will also be a unique feature of Standard Chartered’s crypto products in the EU.

According to Chaudry, “there is no clear timeline as that is not planned for the moment; we are not offering trading through Luxembourg.”. He added that Standard Chartered is the only international bank in this field with a sizeable risk capital and balance sheet.

The bank first offered cryptocurrency custody services in the United Arab Emirates in September 2024, and this new launch follows a few months later. Additionally, Standard Chartered included exposure to the two biggest cryptocurrencies by market capitalization, Bitcoin and Ether, in the offering.

“We are thrilled to be able to provide our digital asset custody services to the EU region, allowing us to assist our clients with a product that is transforming the traditional finance landscape,” stated Margaret Harwood-Jones, global head of financing at Standard Chartered.

She underlined that the new services will comply with strict security regulations as a regulated organization in Europe.

Ripple Whales Dump XRP, Funding Rate turns Negative

Posted on January 10, 2025 by Olumide Adesina

Ripple’s XRP fell 3% on Friday amid whales dump and a drop in funding rates.

Recent price action shows that the Ripple-based token may re-test the $2.2 support level.

XRP, the fourth-largest cryptocurrency by valuation, saw a major dump during the day. Members of the XRP community are upset about this action and are curious as to why it was taken.

Whales sold 60 million XRP between January 7 and 8, worth about $139 million. XRp lost its bullish momentum as it crashed from a high of $2.4 to $2.2 because of this massive movement, which added to the bearish momentum surrounding it.

The altcoin sparked investor optimism at the beginning of 2025. The death cross signal’s appearance on its hourly chart raised doubts and concerns regarding XRP’s immediate future course.

Funding Rate turns Negative

XRP’s funding rate briefly went negative for the day and is now significantly below the steady 0.01% level. Funding rates are regular payments made between cryptocurrency futures traders to help keep the price of a derivatives contract close to the spot price of its underlying asset.

Short traders pay a fee to long traders when funding rates are negative, which indicates increasing bearish pressure. When funding rates are positive, the opposite is true.

Open interest is still high despite the recent drop in XRP funding rates to 0.03%, indicating cautious optimism among traders as bearish sentiments have persisted in the market. On the other hand, during bullish seasons, markets frequently recover when funding rates fall below average.