BTC Markets analyst Rachael Lucas said, “XRP broke out of a falling wedge pattern and sustained above its 50-day moving average. Aggressive short liquidations also occurred. Investors closed $250 million in short positions in just one hour. This was a key factor fueling the rapid upward movement.”

ETF Inflows and Investor Interest

Kronos Research CIO Vincent Liu noted that strong net inflows into spot XRP ETFs further accelerated the rally. Data from SoSoValue shows ETFs recorded $46.1 million in net inflows on Monday—the highest daily inflow since December 3. Total trading volume reached $72.15 million, the second-highest since November 24.

Rising ETF interest indicates that investors are increasingly viewing XRP as a long-term payment and liquidity asset rather than a short-term speculative instrument. Lucas added, “Demand is supported by clearer regulatory conditions after the Ripple-SEC settlement and XRP’s role in cross-border payments.”

Technical Analysis and On-Chain Insights

Ripple XRP’s gains are not limited to price action. On-chain data shows long-term holders have accelerated accumulation, increasing daily net holdings from roughly 9 million XRP to about 47 million XRP since December 30—a rise of over 420%.

However, profit-taking pressure is also increasing. Long-term holder NUPL (net unrealized profit/loss) has returned to early December levels, indicating some holders are taking profits. This adds short-term volatility while keeping market direction under close watch.

Across the broader market, Bitcoin has risen 7.4% over the past week to $93,719, while Ethereum gained 9.3% to $3,225. The GMCI 30 index increased 3.31% in the last 24 hours and 12.33% over the week. The Crypto Fear & Greed Index reached 26, a notable recovery from 11 in mid-December.

Short-term volatility continues for investors, while ETF interest and XRP’s adoption narrative support the upward price trend.

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The post XRP Surges to Highest Level Since Mid-November appeared first on Coin Engineer.

According to the announcement, Ripple has been allowed to provide certain digital asset services in Ireland, paving the way for the company to provide such services to customers in the European Economic Area when the Crypto Asset Markets Regulation 2024 comes into force at the end of the year.

Ripple’s general counsel Stuart Alderoty previously stated that, subject to necessary approvals, the company could “passport” its European license to the remaining 27 states in the block.

Ripple’s Senior Vice President of Strategic Initiatives, Eric Van Miltenburg, said, “The addition of Ripple Markets to the Central Bank of Ireland’s registered Virtual Asset Service Providers list is an important step forward for our business in the region.”

Van Miltenburg added, “Ireland has positioned itself as a supportive jurisdiction for the virtual asset industry and as a result, has established itself as a great place for businesses like Ripple to operate, which strengthened our decision to choose Ireland as our primary hub for EU regulations.”

“Ireland and the wider EU, by providing regulatory clarity for the sector, are increasing trust in digital assets, payments, and the fintech ecosystem and demonstrating their long-term commitment to the development of these industries.”

Ripple has been seeking a VASP license in Ireland since November 2022. The company’s last record occurred after its subsidiary in Singapore, Ripple Markets APAC Pte Ltd, received a Major Payment Institution license from the Monetary Authority of Singapore in October. Ripple has thus secured most of its 35 money transfer licenses in the US this year.

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Ireland, the Focus of Crypto Firms

The company said that Ireland’s appeal as a target for fintech innovation played a significant role in Ripple’s decision to open an office in Dublin in 2022. The Central Bank of Ireland had previously facilitated more engaging and informal interactions between fintech companies and regulatory bodies by setting up an Innovation Hub in the country in 2018.

Together with this, Coinbase, one of the world’s largest crypto exchanges, previously set Ireland as its EU headquarters in October after getting approved as a VASP in the country in December 2022. Coinbase’s crypto exchange competitor, Gemini, expanded its operations to Ireland in October of last year, becoming the first company to receive this permission.

The post Ripple Approved by Ireland Central Bank! appeared first on Coin Engineer.

David Schwartz’s Vision: XRP as a Potential World Reserve Currency

Discussing the concept of reserve currencies, so Schwartz asserted that a significant portion of the world is becoming increasingly open to alternatives to the US dollar as the dominant reserve currency. He emphasized that many countries are actively exploring options beyond the dollar, and he offered a compelling perspective. “One of my unconventional scenarios for digital assets is the possibility that countries may realize the US dollar’s status as the eternal reserve currency is not guaranteed,” said Schwartz.

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Schwartz likened the situation to smaller banks actively striving to change a system established by larger banks in order to advance their interests, suggesting that nations could also embrace such an approach. He explained, “I think a similar transformation could occur at the national level, where each country aspires to have its own currency as the global reserve. This is how the US economy has disproportionately flourished for decades.”

The tech entrepreneur went on to note that while smaller nations understand they may never achieve the status of a world reserve currency, they are reluctant to see their geopolitical rivals gain an unfair advantage. As a result, Schwartz suggested that these countries could consider adopting a digital currency such as XRP as the potential global reserve currency because it lacks control by any single entity, particularly their geopolitical adversaries.

The Ripple Community’s Discussion on XRP and Regulatory Challenges

During the recent Twitter Spaces discussion, various prominent figures in the XRP community, including analysts, traders, and enthusiasts, engaged in a comprehensive conversation. They analyzed the recent developments and fluctuations in the blockchain and remittance token markets over the past few months. The ongoing legal battle between the US Securities and Exchange Commission (SEC) and Ripple was a focal point of discussion, with many participants criticizing the regulatory agency’s targeted actions against crypto-related enterprises.

I'm not sure most people realize the importance of this video and how it's a confirmation that $XRP will eventually appreciate in price.

Not only did David Schwartz suggest it's a very possible scenario for XRP to become a world reserve currency. But he clearly said that if it… pic.twitter.com/Ja7JTHRiB8

— 🅢🅣🅐🅡🅩 (@burningstarz) September 3, 2023

In summary, David Schwartz’s vision of XRP potentially becoming the world’s reserve currency has ignited discussions within the crypto community. This notion of a digital currency operating without centralized control has sparked interest, particularly as nations explore alternatives to the US dollar‘s dominance in the global financial landscape.

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The post Ripple CTO: XRP Potential as Global Reserve Currency appeared first on Coin Engineer.

In the evening, the cryptocurrency markets witnessed one of the most substantial movements in recent history. A noteworthy breakthrough emerged in the ongoing legal battle between Ripple and SEC, favoring XRP. The court judge declared that the sale of XRP cannot be considered an investment contract offering and that the XRP sold to the public may not be classified as a security.

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Following these significant developments, the crypto markets particularly XRP, underwent a notable upward surge. The price of the coin soared by over 80%, propelling it to the position of the fourth-largest cryptocurrency by market capitalization.

Following the unexpected surge in XRP, Uphold, facilitating it purchases in the USA, experienced a significant outage. Access to the platform and stock market remained inaccessible for an extended period.

Meanwhile, between these unfolding events, an additional piece of news emerged from the Gemini stock market. Gemini revealed that it is actively exploring the possibility of listing it for both spot trading and derivatives transactions, conducting a thorough investigation into the matter.

Statement from SEC

After the judge made a decision, people started paying attention to the SEC. The SEC said:

“We are happy that the court has decided that XRP tokens, when offered and sold by Ripple as investment contracts in certain situations, break securities laws. We will keep reviewing the decision.”

The reason behind the SEC’s statement is that the court considered Ripple’s corporate sales of XRP as an unlawful offering of securities that were not properly registered.

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