{"id":24388,"date":"2023-11-06T13:14:45","date_gmt":"2023-11-06T13:14:45","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/xrp-surging-as-major-institutions-adopt-ripple\/"},"modified":"2023-11-06T13:14:45","modified_gmt":"2023-11-06T13:14:45","slug":"xrp-surging-as-major-institutions-adopt-ripple","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/xrp-surging-as-major-institutions-adopt-ripple\/","title":{"rendered":"XRP surging as major institutions adopt Ripple"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1686756292928-8706ff9b-976b-4cf4-979b-c7497a75ebcc-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1686756292928-8706ff9b-976b-4cf4-979b-c7497a75ebcc-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1686756292928-8706ff9b-976b-4cf4-979b-c7497a75ebcc-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1686756292928-8706ff9b-976b-4cf4-979b-c7497a75ebcc-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Following the recent XRP price surge, Ripple (XRP) has become the fourth-largest cryptocurrency.<\/li>\n<li>Ripple\u2019s milestones in Dubai and Georgia are some of the main boosters of XRP\u2019s performance.<\/li>\n<li>Trading volumes and leverage have also impacted XRP\u2019s price rally.<\/li>\n<\/ul>\n<p>XRP, the cryptocurrency closely associated with <a href=\"https:\/\/coinjournal.net\/ripple\/what-is-ripple\/\">Ripple<\/a>, witnessed a significant surge in its price, climbing over 8% in the past 24 hours.<\/p>\n<p>This surge propelled XRP to become the fourth-largest cryptocurrency by market capitalization, temporarily displacing <a href=\"https:\/\/coinjournal.net\/binance-coin\/what-is-binance-coin\/\">Binance Coin (BNB)<\/a> from its position.<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 615px\"><span class=\"fr-img-wrap\"><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/10\/06\/1699272587508-a4cfd4ef-2013-4c74-9587-7711e497f6e0.jpg\" class=\"fr-fic fr-dib\" width=\"615\" height=\"230\"\/><span class=\"fr-inner\" style=\"background: transparent;position: relative\"><em>XRP price chart<\/em><\/span><\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">\u00a0<\/p>\n<\/div>\n<h2>Positive Ripple developments<\/h2>\n<p>XRP\u2019s sudden price rally appears to be a reaction to two key developments concerning Ripple, the company behind the cryptocurrency. Despite Ripple\u2019s historical distinction from XRP, positive news related to the company tends to influence XRP\u2019s performance.<\/p>\n<p>Last week, Ripple achieved significant milestones that contributed to the recent bullish sentiment. These are:<\/p>\n<h3>Ripple\u2019s approval by the Dubai Financial Services Authority<\/h3>\n<p>The <a href=\"https:\/\/coinjournal.net\/news\/dubais-financial-regulator-approves-xrp-under-its-virtual-assets-regime\/\">Dubai Financial Services Authority (DFSA) granted approval for XRP<\/a> under its virtual assets regime. This regulatory green light permits licensed financial institutions within the Dubai International Financial Centre to incorporate and offer XRP to clients as part of their cryptocurrency services.<\/p>\n<p>This move opens doors for the broader adoption of XRP within Dubai\u2019s financial sector.<\/p>\n<h3>Collaboration with the National Bank of Georgia<\/h3>\n<p>Simultaneously, <a href=\"https:\/\/coinjournal.net\/news\/georgia-selects-ripple-as-key-partner-for-its-digital-lari-pilot-project\/\">Ripple announced a partnership with the National Bank of Georgia (NBG)<\/a> to launch the Digital Lari (GEL) pilot project. This initiative will leverage Ripple\u2019s central bank digital currency (CBDC) platform to explore the possibilities of a digital Lari.<\/p>\n<p>Ripple\u2019s platform, previously adopted by the Hong Kong and Taiwan governments, allows institutions to manage and customize various aspects of the CBDC\u2019s lifecycle, including minting, distribution, redemption, and token burning. This collaboration demonstrates the practical application of Ripple\u2019s technology within the central bank digital currency realm.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/xrp-surging-as-major-institutions-adopt-ripple\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Following the recent XRP price surge, Ripple (XRP) has become the fourth-largest cryptocurrency. Ripple\u2019s milestones in Dubai and Georgia are some of the main boosters of XRP\u2019s performance. Trading volumes and leverage have also impacted XRP\u2019s price rally. XRP, the cryptocurrency closely associated [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":24389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24388"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24388"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24388\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24389"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}