Ripple has seen a dramatic rise in adoption for cross-border remittances. Japanese banks, in particular, have gone all in on the XRP Ledger. With a clear regulatory rulebook making its way to the US, the popular blockchain network could see a similar pattern emerge in the States.
US Regulations Could Push XRP To New Heights
The US has seen a massive shift in its crypto approach over the last few months. President Trump has been very public about his stance on the budding industry. Trump has said that he wants the crypto sector in the US to thrive. Ripple could see increased adoption once clear regulations are in place.
Ripple had a few rough years after the SEC accused the fintech company of selling unregistered securities in 2020. The lawsuit was dropped earlier this year, clearing the company’s path. The SEC now has a pro-crypto candidate, Paul Atkins, at its head. Many anticipate that Atkins will take a more lenient approach to the crypto sector.
Also Read: Ripple: 80% Japanese Bank Adoption May Spark Huge XRP Rally
If Ripple experiences a similar adoption surge in the US, like it did in Japan, XRP could see a massive inflow spike. Such a scenario could potentially take XRP’s price to new highs. XRP is still down by 36.1% from its all-time high of $3.40. XRP hit its peak in January 2018, more than seven years ago. A new peak has long been awaited by investors and fans.
Cryptocurrencies Make Slight Gains
The cryptocurrency market seems to be making a slight recovery. XRP’s price has risen 1% in the daily charts, 0.9% in the weekly charts, 1% in the 14-day charts, and 335.8% since June 2024. The asset is still down by 7.7% over the previous month.
The market faced a correction after global geopolitical tensions and uncertainties. Many were hoping for an interest rate cut from the Federal Reserve. Unfortunately, Fed chair Jerome Powell decided to keep rates unchanged.
