The price of XRP, the popular remittance alternative crypto currency, has found its foot at $2.20, a crucial support level. Tuesday’s 2% upswing for Ripple (XRP) price comes amidst a 22% drop in trading volume on Spot market, raising eyebrows among meticulous crypto market watchers.
Out of the $1.86 billion in trading volume, one massive Ripple transaction saw 50,000,000 XRP flipping between crypto wallets, but other crypto whales remain silent. Most likely, the major XRP coin holders are awaiting the outcome of two legal developments this month.
Here’s What XRP Holders Are Looking Out For
Firstly, the U.S. Securities and Exchange Commission (SEC) is due to complete a bi-monthly report on the case by June 16, 2025. Just one day after this, Franklin Templeton’s Ripple ETF shall receive a significant, if not final decision on the XRP ETF pitch. In contrast, Grayscale’s Ripple ETF submission is not due for consideration up until mid October, 2025.
Sponsored
In a fresh interview for Bloomberg, Ripple’s Boss Brad Garlinghouse acknowledged there’s stumbling blocks in terms of regulations around XRP, just as any other crypto currency, when it comes to full-fledged adoption. However, from the get-go, Ripple has worked with regulators and banks, where there isn’t regulatory uncertainty.
So, is XRP the next Bitcoin (BTC)? “If we work with the system to solve this problem at scale”, then yes, believes Brad Garlinghouse. Such moves potentially open up trillions of dollars in market value.
To illustrate, XRP & SWIFT integration would enable Ripple’s XRPL network to participate in a $150 trillion market, which is nearly 50 times larger than all crypto currencies combined at present time.
Delve into DailyCoin’s hottest crypto news:
Hyperliquid (HYPE) Coin Surges on Binance Listing News
Bitcoin Sees Fresh Demand, But Long-Term Holders Stay Cautious
XRP is a cryptocurrency designed for fast, low-cost international payments. It enables near-instant transfers across borders, reducing fees and delays compared to traditional banking systems.
XRP transactions typically settle in 3-5 seconds. This speed makes it ideal for quick, global money transfers.
Yes, XRP transfers often have lower fees than traditional bank transfers. This is because XRP eliminates intermediaries, reducing costs for users.
There’s no confirmed integration, but Ripple, XRPL’s creator, aims to complement or compete with SWIFT by offering faster, blockchain-based transfers. Discussions about potential SWIFT collaboration continue, but nothing is finalized.
XRP uses blockchain technology, which provides secure, transparent transactions. Its decentralized ledger ensures funds are transferred safely without a central authority.
