Ripple’s XRP (XRP-USD) remains shrouded in uncertainty. The crux of the issue lies in the confirmation of Paul Atkins as the new SEC chair, a decision that could redefine Ripple’s regulatory framework. Elenor Terrett of Fox Business highlighted the procedural delays, stating, “Atkins will have his hearing in front of the @BankingGOP, a date for which has not yet been set… Jay Clayton was not confirmed until May 2017 after Trump nominated him in January 2017.”
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XRP Faces Price Swings amid Uncertain ETF Approval
XRP’s market behavior reflects the ongoing suspense, with its price ticking up slightly by 1.24% on Monday, even as the broader market mirrored this uptick. The potential for an XRP-spot ETF hangs in the balance, dependent on the SEC’s decision on Ripple’s appeal. “If the SEC withdraws its appeal, XRP could rally past its all-time high of $3.5505,” suggests market speculation.
Ripple Expands in Europe
In a separate development, Ripple has partnered with Portuguese currency exchange provider Unicâmbio to facilitate faster transactions between Portugal and Brazil, utilizing XRP for liquidity. This venture not only shows Ripple’s commitment to expanding its geographical footprint but also boosts XRP’s utility and potential uptake. “Planting the Ripple flag in Portugal today with Unicâmbio, our first Portuguese client,” Ripple tweeted, celebrating this new chapter in European markets.
At the time of writing, XRP is sitting at $2.5012.
