Ripple made the headlines by expanding its global presence. The firm was also featured in the recently-released Epstein files, which caused huge controversy.
Meanwhile, the latest market crash has deeply affected XRP, whose price collapsed to a multi-month low.
Expansion in Europe
Earlier this year, Ripple secured preliminary Electronic Money Institution license approval from the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. Just recently, it announced that it received full ratification from the regulator. Speaking on the matter was Cassie Craddock (Managing Director, UK & Europe at Ripple):
“Securing our full EMI license in the EU is a transformative milestone that reinforces Ripple’s presence at the heart of European finance. Europe has always been a strategic priority for us, and this authorization allows us to scale our mission of providing robust, compliant blockchain infrastructure to clients across the EU. We are now better positioned than ever to help European businesses transition into a more efficient, digital-first financial era.”
Prior to that, Ripple Markets UK Ltd (the firm’s subsidiary in the United Kingdom) obtained registration with the Financial Conduct Authority (FCA), confirming its compliance with the British anti-money-laundering regulations and counter-terrorist financing rules.
The Epstein Connection
A few days ago, the US Department of Justice released a new wave of millions of pages, videos, and images tied to the late sex offender Jeffrey Epstein. Interestingly, Ripple was also mentioned in the process.
One of the released emails is from Austin Hill (co-founder of Blockstream) and is addressed to Epstein and Joichi Ito (former director of MIT Media Lab). In that message, Hill asks the men to call him to discuss Ripple and Stellar, saying both projects are “bad for the ecosystem we are building.”
X user Dr Russel McGregor advised Ripple’s team to demand that the SEC, DOJ, and Congress release all records related to any Epstein-linked influence on early crypto policy.
David Schwartz (one of the original architects of the XRP Ledger) gave his two cents on the matter, saying he wouldn’t be surprised if “this is just the tip of a giant iceberg.”
XRP Price Outlook
Ripple’s cross-border token recently fell to a 14-month low of around $1.50, coinciding with the broader market’s bearish conditions. Currently, it trades at roughly $1.64 (per CoinGecko’s data), representing a 14% decline over the past week.
Despite the grim reality, multiple analysts remain optimistic about XRP, expecting a short-term resurgence. X user EGRAG CRYPTO suggested that the pullback might be soon followed by “a liquidity grab.” Path A includes a relief bounce, a second sweep, and finally expansion, whereas Path B would result in an astronomical price increase (which seems unlikely at the moment).
Meanwhile, an anonymous large investor on Hyperliquid opened a multi-million dollar position with 20x leverage on XRP. Some believe whales have inside information and trade certain assets because they are certain in their success. Even if this is just a speculation, such actions may trigger additional interest from smaller players who can inject fresh capital into the ecosystem, thereby positively impacting XRP’s price.
The post Ripple (XRP) News Today: February 2nd appeared first on CryptoPotato.