CME Group announced that the new XRP and Internet Computer reference rates are designed to provide the US dollar price of each digital asset.
XRP Healthcare plans to create additional revenue streams from the UAE market through royalties from businesses and companies seeking to license the XRP Healthcare brand and logo.
Ripple’s regular sales of XRP typically result in a decrease in the token’s value.
The SEC dismissed Ripple’s reference to the Binance case as irrelevant, accusing Ripple of selectively citing the ruling to downplay its mistakes and argue against severe penalties.
Ripple’s introduction of the “Try It” feature is a strategic move by the company to drive broader adoption of its payment solutions.
In addition to the newly launched XRP ETP, Virtune offers access to ten other crypto-related products.
These actions align with the current phase of penalties in the ongoing Ripple versus the SEC lawsuit.
Users will also have the option to rare NFTs and create NFTs, but these tokens are commemorative and, as a result, cannot be transferred or sold.
Kraken’s lawyer, Matthew Solomon, challenged the SEC’s approach of treating the exchange as a unified “ecosystem” with all tokens as investment contracts. He stressed the fair, consistent application of regulations to crypto assets.
The ruling dismissed four of the five claims in the class action lawsuit against Ripple which were termed as “failure to register claims”.
Ripple-backed XRP has outshined the rest of the top ten most valuable crypto assets in the past seven days.
Ripple’s increasing influence is evident as 80% of Japanese banks have partnered with the company for blockchain-based payment solutions.
Ripple argued that Terraform Labs’ $420 million civil penalty was just around 1.27% of its “$33 billion gross sales”. However, the SEC rejected it stating that this is an apples-to-oranges comparison.
Amid all this, the price of XRP has continued to decline, losing more than 10% in the last eight days.
The enhanced adoption of Ripple-backed XRPL by institutional investors will significantly help increase XRP’s bullish outlook in the ongoing crypto bull run.