Latest news with #bankinglicense
Yahoo
7 days ago
- Business
- Yahoo
XRP Analysis: $3 Becomes Make-or-Break Level for the Ripple Linked Token
Ripple's XRP posted a 5% gain on the day as traders shrugged off a fresh wave of opposition from traditional banks to Ripple's license application. Price action remained volatile between $2.83 and $3.11, with short-term upside stalling at resistance levels while volumes surged past 110 million XRP — including a $33 million one-minute transaction that spooked order books. What to Know BPI, which represents 42 banks, filed objections to Ripple's pending banking license, injecting fresh uncertainty into regulatory timelines. XRP rallied from $2.83 to $3.11 before closing at $3.04, with a 9.8% intraday swing across the session. Support at $3.00 held despite mid-day selloffs and fading momentum above $3.09. Institutional flows remained net neutral: $2.1 billion in token divestment offset by $14 million in leveraged long positions. AI-driven models project a $3.12 move by August-end — though TD Sequential flags short-term reversal risk. News Background The banking sector's coordinated filing against Ripple's license effort marks the most concentrated resistance the firm has faced since its partial victory against the SEC. For traders, the news was mostly background noise — as XRP's price held firm above $3.00 and saw liquidity bursts typically associated with large players moving in and out of the asset. Price Action Summary CoinDesk Analytics shows XRP hit a session high of $3.11 around 17:00 before reversing on volume spikes of 69.89 million XRP. Support formed at $2.97 during the Asia session (05:00–06:00), reinforced by back-to-back 50M+ XRP trades. Final-hour action (13:09–14:08) showed XRP holding flat at $3.03, with 2.1 million XRP sold during the breakdown attempt. Technical Analysis Price structure shows a clean consolidation band between $3.00–$3.02, with no structural breakdown yet. Bulls failed multiple times at $3.09–$3.11, signaling short-term exhaustion near that resistance cluster. Trading volume stayed above the daily mean (47.7 million) in five separate hourly windows — showing sustained interest. TD Sequential on the 3-day chart signals a completed 9-count — typically a local top. Breakout level remains $3.05, with upside extensions to $3.15 possible if volume returns above 50M/hour. What Traders Are Watching Whether Ripple responds publicly to the banking sector's challenge, and how regulators react. If $3.00–$3.02 continues to act as accumulation range for larger holders. Volume participation into the weekend — any slowdown could set up for a $2.92–$2.97 retest. Trend flips on confirmation above $3.05 on strong hourly volume, targeting $3.12–$3.25 range. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
01-08-2025
- Business
- Bloomberg
UK Squabbling Over Revolut Helps No One
Fresh off a losing battle with the left wing of her own party over spending cuts, UK Chancellor of the Exchequer Rachel Reeves has run into a pillar of the establishment, central bank chief Andrew Bailey. He's annoyed that she's trespassing on his turf in an effort to support fintech Revolut Ltd. Bailey intervened to cancel a meeting Reeves had called between the Bank of England regulators and Revolut to clear the way for it get a banking license, the Financial Times reported this week. The mercurial fintech is the UK's biggest unicorn with 11 million UK customers and 10,000 employees and is straining at the leash after a three-year wait to become a fully regulated bank.
Yahoo
12-07-2025
- Business
- Yahoo
XRP: Buy the Dip?
After hitting a 52-week high in January, XRP is down 30%. New spot ETFs have a high likelihood of launching, and could result in more money flowing into XRP. Ripple recently applied for a banking license, which could open up more use cases and wider adoption for XRP. 10 stocks we like better than XRP › XRP (CRYPTO: XRP) investors are understandably concerned right now. Heading into the year, XRP was one of the hottest cryptocurrencies on the planet. But after hitting a 52-week high of $3.40 in mid-January, XRP is down 30%, and currently trades for just $2.35. However, all is not lost. In fact, this could be a great time to buy the dip on XRP. There are three key catalysts that could propel XRP higher in the second half of the year. On July 2, Ripple Labs, the company behind the XRP token, applied for a U.S. bank charter with the U.S. Office of the Comptroller of the Currency (OCC). If this banking application is approved, then Ripple would be able to operate as a federally regulated bank. This has several major implications. This could pave the way for Ripple to do a lot of exciting things with the XRP token, including the launch of new XRP financial products. This has always been the dream of many crypto enthusiasts: a golden era when banks and other financial institutions offer crypto financial products right alongside traditional financial products. For some time, crypto participants have talked about XRP as "the banker's coin." That's because XRP is primarily used to make cross-border payments and send remittances abroad. In short, XRP is already a cryptocurrency used by banks to do bank-like activities. But XRP has always lacked full regulatory approval to take the next step. From that perspective, a banking license for Ripple could be huge for XRP. A "banker's coin" needs a bank, right? A banking license would certainly justify a higher valuation, and would likely lead to many more use cases for XRP beyond just cross-border payments. Another big catalyst is the imminent launch of spot XRP ETFs, similar to spot Bitcoin ETFs. Several prominent investment firms have already submitted spot XRP ETF applications, and the current thinking is that the SEC will make a final decision on them by mid-October. Right now, Bloomberg says there's a 95% chance that they will be approved. And online prediction markets think that there's a 90% chance of them being approved. So it appears to be just a matter of time before these new products launch. When these ETFs start trading, that could unlock a torrent of new money flowing into XRP. Spot ETFs regulated by the SEC are exactly the type of "safe" investment vehicle that large institutional investors need and want to get exposure to XRP. As a result, J.P. Morgan thinks that as much as $8 billion of new money could flow into XRP. Finally, there's one more development that has me bullish on XRP. Companies are taking the Bitcoin Treasury Company model popularized by Strategy, formerly known as MicroStrategy, and adopting it for XRP. In other words, these companies are making big plans to add XRP to their balance sheets, as a way of boosting their stock market valuations. VivoPower International (NASDAQ: VVPR) got the ball rolling in late May, with plans to buy $121 million worth of XRP. And now other companies are following suit. If this trend continues, it could lead to enormous buying pressure for XRP, thereby helping to push up its price. Just keep in mind: XRP and Ripple are well-known for hype and buzz that never quite delivers as promised. For example, there continue to be rumors of an imminent Ripple IPO that would send the price of XRP to the stratosphere. There was hype and buzz around Ripple acquiring Circle Internet Group (NYSE: CRCL) just weeks ahead of the stablecoin issuer's IPO in June. And, there is hype and buzz that Ripple might one day topple SWIFT as the preeminent payment network in the world. The only catalyst that has really pushed XRP higher in the past two years has been the election of President Donald Trump. He came into office with a pro-crypto agenda, and everyone knew what that meant for Ripple and XRP: a clearing out of all the regulatory and legal barriers facing them. That's why XRP soared in price as soon as Trump was elected. But ever since January, XRP has been a disappointment. So don't get your hopes too high. If XRP manages to reclaim its all-time high of $3.84 before the end of the year, I'd count that as a win. Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,432!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,005,854!* Now, it's worth noting Stock Advisor's total average return is 1,049% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of July 7, 2025 Dominic Basulto has positions in Circle Internet Group and XRP. The Motley Fool has positions in and recommends XRP. The Motley Fool has a disclosure policy. XRP: Buy the Dip? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Crypto Insight
03-07-2025
- Business
- Crypto Insight
Ripple applies for US banking license, joining crypto rush for legitimacy
Crypto firm Ripple Labs is applying for a banking license in the US, following a similar move by stablecoin issuer Circle Internet Group as crypto firms look to be regulated to deepen ties with traditional finance. Ripple CEO Brad Garlinghouse confirmed on X on Wednesday that the company is applying for a license with the US Office of the Comptroller of the Currency (OCC), following an earlier report by The Wall Street Journal. 'True to our long-standing compliance roots, Ripple is applying for a national bank charter from the OCC,' he wrote. Garlinghouse said if the license is approved, it would be a 'new (and unique!) benchmark for trust in the stablecoin market' as the firm would be under federal and state oversight — with the New York Department of Financial Services already regulating its Ripple USD (RLUSD) stablecoin. Ripple follows Circle on wanting bank charter Ripple's decision to get a banking license came just two days after Circle, which issues the second-largest stablecoin USDC, applied to the OCC to create a national trust bank that would oversee its stablecoin reserves. The move by both firms comes as the US Senate passed a stablecoin regulating bill called the GENIUS Act, which lays out standards for offering the US dollar-pegged tokens, including that the OCC will oversee larger stablecoin issuers. Circle co-founder and CEO Jeremy Allaire said the company was taking 'proactive steps' to 'align with emerging US regulation for the issuance and operation of dollar-denominated payment stablecoins.' Anchorage Digital is the only crypto firm that holds a national bank charter. Ripple bids for Fed master account Ripple's Garlinghouse added that the company also applied for a Master Account with the Federal Reserve, which would give it access to the US central banking system. 'This access would allow us to hold $RLUSD reserves directly with the Fed and provide an additional layer of security to future proof trust in RLUSD,' Garlinghouse said. 'Congress is working towards clear rules and regulations, and banks (in a far cry from the years of Operation Chokepoint 2.0) are leaning in,' he added, mentioning the conspiracy that the Biden administration sought to cut off crypto from the financial system. Ripple applied for the account through Standard Custody, a crypto custody firm it acquired in February 2024. XRP gains over 3% on Ripple's bank charter application XRP, the token of the XRP Ledger blockchain that Ripple Labs uses for its products, has risen 3.2% over the past day to trade at $2.24, according to CoinGecko. The token began to climb late on Wednesday before hitting a 24-hour peak of $2.27 around the time of Garlinghouse's post before slightly cooling from its rally. Source:
Bloomberg
28-05-2025
- Business
- Bloomberg
Fintech Mercado Pago Will Apply for Argentina Banking License
Mercado Pago, the digital wallet and financial services arm of MercadoLibre, will request a banking license from Argentina's central bank as part of its effort to expand its ecosystem, according to a statement Wednesday. The goal is to offer more services through its fully digital model as the move follows similar steps already taken in Brazil and Mexico.
