Yesterday, some very interesting news came out regarding Ripple, which had a positive impact on the price of XRP.
Ripple is the company that founded XRP, and this is the native cryptocurrency of the XRP Ledger blockchain. Since XRP is primarily used on Ripple’s systems, news concerning the company often also impacts the price of the cryptocurrency.
Good news for Ripple and for the price of XRP
Yesterday Ripple announced that it has obtained two new MTL (Money Transmitter Licence) in the States of New York and Texas.
2025 kicks off with big wins for crypto in the US and Ripple’s growth: new MTL licenses in NY & TX, new customers onboarded, and ramping up hiring across the U.S.
https://t.co/ZHmEracQN6
— Ripple (@Ripple) January 27, 2025
Note that the State of New York is absolutely one of the US states with the strictest regulations in the financial sector, so it is not at all easy to obtain an MTL license in New York.
In fact, the same press release from the company announcing the obtaining of these licenses also celebrates the excellent moment that the cryptocurrencies in the United States are experiencing.
The nuove licenze di Ripple
Ripple claims to be making multiple strides with its solution for cross-border payments, also because these are a useful use case for criptovalute in global finance.
The company states that it has applied for MTL licenses in New York and Texas because in these two states it has registered a strong demand for real-time global payments from banks and crypto companies.
With the obtaining of these two licenses, Ripple’s MTLs rise to 50, which is the same number as the states in the USA. Globally, the licenses rise to a total of 60.
MTL allow Ripple Payments customers to access a licensed version of its cross-border payments solution in the United States, where transactions are managed end-to-end by Ripple on behalf of the customer.
Taking into consideration Ripple’s subsidiaries as well, the group now has more than 55 MTL for payments, custody, and stablecoins, in addition to a payment institution license issued by the Monetary Authority of Singapore and one as a virtual asset service provider at the Central Bank of Ireland.
The impact on the price of XRP (Ripple)
Yesterday was a difficult day for the crypto markets, with the overall capitalization dropping in a few hours from 3.550 billion dollars to 3.250 billion, and then rising again to the current 3.450 billion.
The price of XRP first dropped from $3.13 to $2.65, but then it rebounded, bringing it back above $3.17.
So if overall the crypto market continued to suffer even after the rebound, although a bit less, XRP instead has recovered greatly.
It should still be remembered that the maximum price of the last few months was reached on January 16th at $3.4, even though only three days later it had fallen to $2.8.
Before Trump’s electoral victory, however, it was around $0.5, and it only started to soar in mid-November when it became known that the former SEC chairman Gary Gensler would resign.
Therefore, the impact of the news about Ripple’s new licenses on the price of XRP was present, but it turned out to be very limited. However, it is not certain that its growth has ended.
It should finally be remembered that the all-time high is still the $3.8 reached in January seven years ago, and that the current price is 17% lower than that peak.
The comment
The Managing Director of North America at Ripple, Joanie Xie, stated:
“We continue to see greater interest from financial institutions towards crypto companies that want to unlock the advantages of crypto and blockchain for faster, more convenient, and 24/7 cross-border payments. With years of experience working both in the crypto sector and with financial institutions, Ripple is well-positioned to support companies that are ready to take advantage of the current landscape”.
The statements of the società Ripple
The company states that it has managed so far through Ripple Payments a payment volume of 70 billion dollars, with availability 24/7 and global network coverage in over 90 markets
Furthermore, it states that last year the payment activity doubled.
The demand has grown thanks to the increased adoption of stablecoins, including the new Ripple USD (RLUSD), and the rapid evolution of digital asset regulation in the United States is expected to further benefit the sector.
Ripple reports that the use cases of digital assets in the real world are coming to the forefront and institutions are taking steps on their crypto strategies, also because the financial sector itself is becoming increasingly digital. They cite, for example, the use case of asset tokenization in the real world (RWA), which can offer greater utility, liquidity, and accessibility of financial instruments.
They conclude by writing:
“The coming years will likely be monumental for the cryptocurrency sector, with many optimistic that both political entities and financial institutions will benefit from blockchain through public-private collaboration, continuous training, and tangible results stemming from practical applications of the technology”.