Japan's Financial Services Agency has approved Ripple's RLUSD stablecoin as an electronic payment instrument, allowing trading on SBI VC Trade's platform for both retail and institutional investors. This marks a significant regulatory milestone in Japan's strict crypto environment and follows a long-standing partnership between Ripple and SBI since 2016. Despite RLUSD's $1.7 billion market cap being small compared to giants like Tether and Circle, the approval positions it for growth in Japan's expanding stablecoin market. Meanwhile, Japan's major banks plan to launch their own stablecoin by 2027, signaling increased activity in the sector.
XRP's price declined about 2% despite Ripple securing regulatory approval for its stablecoin RLUSD in Japan, a key market for expansion. The drop was influenced by the shutdown of Strobe Finance, a DeFi lending platform on the XRP Ledger, which raise...
XRP's price fell sharply to around $1.08, dipping below $1.05, following Bitcoin's drop below the $60,000 mark. This decline is not due to XRP-specific issues but rather its historical tendency to amplify Bitcoin's downward moves, losing nearly twice...
Ripple's XRP price fell more than 15% from its June 16 peak of around $1.29 to about $1.057 by June 24, pressured by profit-taking after Ripple's EU regulatory approval and weak Bitcoin performance. Technical analysis shows a descending wedge pattern...
Bitcoin and USD Coin experienced significant net outflows totaling around $760 million combined, while Tether (USDT) recorded notable inflows, indicating a rotation of liquidity rather than a full market exit. This shift reflects traders repositionin...
Bitcoin and Ethereum prices fell about 3% amid a shift in trading activity toward stablecoins and derivatives, indicating growing volatility and cautious investor behavior in the crypto market. Bitcoin traded near $60,722 and Ethereum at $1,619, with...
