Ripple Expands to the UK, Applies for License
Ripple Labs, the company behind XRP cryptocurrency, is seeking to expand its services to the UK market. It has applied for a license to operate in compliance with FCA regulations.
- Ripple’s price has experienced a four-day downtrend after being rejected from its July 19 high.
- Despite the recent decline, XRP is still significantly higher than its value two weeks ago, showing a 55% increase.
- Ripple Labs plans to expand to the UK following a partial victory against the SEC.
- The FCA, a strict regulator, proposes banning crypto incentives under new marketing rules.
- The unexpected ruling by Judge Torres caught the crypto community off guard.
Ripple’s Expansion Plans and Officials’ Statements
Ripple is reportedly pursuing a “payment institution license” in both Ireland and the UK. Ripple’s CEO, Brad Garlinghouse, reaffirms the company’s commitment to global expansion while assuring that they won’t abandon their US clients. Dubai’s clear regulatory structures also make it an attractive destination for Ripple’s expansion.
Ripple Price Forecast and Technical Analysis
Ripple’s price is currently facing a decline after breaking a crucial support level at $0.697. The breach of this level puts XRP holders at risk of losing most of their gains achieved during the July 13 rally. Technical indicators suggest a bearish trend for Ripple’s price, indicating a potential further decline.
Consider XRP Alternatives
If you’re looking for alternatives to XRP, LPX is the native token for the Launchpad ecosystem. It offers insights, learning materials, trading alpha, analytics, and strategies for Web3 success. The project is still in the presale stage and offers token buying options with various cryptocurrencies or bank cards.
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