Ripple has taken center stage over the last few days, and it\u2019s only due to the price resurgence of its native cryptocurrency. In the following lines, we will outline the most recent and important developments surrounding its ecosystem.<\/p>\n
Earlier this week, numerous popular X users revealed<\/a> that Ripple has strengthened its presence in Japan by inking strategic collaborations with local banks like Mizuho Bank, SMBC Nikko, and Securitize Japan.<\/p>\n \u201cWe aren\u2019t just talking about payments anymore, we\u2019re talking tokenized securities and real-world assets on the XRPL,\u201d PaulBarron commented.<\/p>\n Due to regulatory challenges in the US in recent years, Ripple shifted its focus abroad, and Asia has become a key area. Last month, the Monetary Authority of Singapore (MAS) granted<\/a> the company a special license that allows it to offer additional services to local clients. Other Asian countries where Ripple has expanded include the UAE, Thailand, and others.<\/p>\n In Q4, the company secured<\/a> a $500 million funding round, bringing its total valuation to a staggering $40 billion. Some industry participants have speculated that Ripple\u2019s next step is to go public, but President Monica Long recently said<\/a> that such plans are not on the table:<\/p>\n \u201cCurrently, we still plan to remain private\u2026 We\u2019re in a really healthy position to continue to fund and invest in our company\u2019s growth without going public.\u201d<\/p>\n The first company to introduce a spot XRP ETF with 100% exposure to the asset was Canary Capital. This happened<\/a> in mid-November last year, while Bitwise, Franklin Templeton, Grayscale, and 21Shares followed suit shortly after. Interest in these products has been quite high, as they have generated a cumulative net inflow of approximately $1.25 billion.<\/p>\n Meanwhile, WisdomTree, which seemed like the next company to receive a green light to launch a spot XRP ETF in the US, officially withdrew<\/a> its S-1 registration.<\/p>\n \u201cThe Trust is requesting withdrawal of the Registration Statement because it has determined not to proceed at this time with the offering covered by the Registration Statement. No shares were sold pursuant to the above-mentioned Registration Statement,\u201d the document reads.<\/p>\n Ripple\u2019s native cryptocurrency jumped by 20% over the past week and currently trades at $2.25 (per CoinGecko\u2019s data). Potential catalysts behind the positive performance include<\/a> recent inflows into spot XRP ETFs, declining exchange reserves, and an abrupt sell-off by whales.<\/p>\n The asset took center stage on January 6 after it was described<\/a> as \u201cthe hottest crypto trade of the year\u201d by the financial news media company CNBC. The hosts of the Power Lunch show claimed there is \u201cbig money\u201d behind this token, noting the significant interest in the spot XRP ETFs.<\/p>\n Multiple analysts are highly bullish on the asset, expecting further gains in the short term. X user STEPH IS CRYPTO claimed<\/a> that as of now, XRP is at the same point where it was in 2017 and 2024, just before registering remarkable gains.<\/p>\n The post Ripple (XRP) News Today: January 7th<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Ripple has taken center stage over the last few days, and it\u2019s only due to the price resurgence of its native cryptocurrency. In the following lines, we will outline the most recent and important developments surrounding its ecosystem. Global Expansion and Future Plans Earlier this week, numerous popular X users revealed that Ripple has strengthened […]<\/p>\n","protected":false},"author":0,"featured_media":125350,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-125349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/125349"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125349"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/125349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/125350"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The ETF Craze<\/h2>\n
XRP: \u2018The Hottest Crypto Trade of the Year\u2019<\/h2>\n