Pacific

United

<div class="coinjournal"> 
 <ul class="decimal_type"> 
 <li>Ripple has secured approval in Singapore, paving the way for regional expansion.</li> 
 <li>AA US Judge has also denied SEC’s appeal boosting XRP price by 4% to $0.53.</li> 
 <li>Ripple’s legal wins showcase its resilience and impact on the crypto market.</li> 
 </ul> 
 Ripple is trending today after its <a rel="noopener noreferrer nofollow" title="legal" href="https://thebittimes.com/tag/legal.html">legal</a> triumph in Singapore coupled with the denial of the SEC’s appeal. The two developments have led to a resurgence in XRP’s price. 
 The cryptocurrency community is closely monitoring these developments, which could have far-reaching implications for both Ripple and the broader cryptocurrency market. 
 As at the time of writing, the price of Ripple’s XRP token had gained over 4%. &nbsp;It is currently trading at $0.53, marking a 5.05% increase over the past month and a 6.77% gain over the previous week. 
 <div class="fr-img-space-wrap"> <img decoding="async" src="https://cdn.thebittimes.com/images/2023/10/04/11fae47fd77847d5b816b68419837459.webp" class="fr-fic fr-dib" width="615" height="383">XRP price chart 
 &nbsp; 
 </div> 
 <h2 id="ripple-secures-approval-in-singapore">Ripple secures approval in Singapore</h2> 
 American blockchain payments firm <a rel="noopener noreferrer nofollow" title="Ripple Labs" href="https://thebittimes.com/tag/ripple-labs.html">Ripple Labs</a> Inc. has scored a significant <a rel="noopener noreferrer nofollow" title="legal" href="https://thebittimes.com/tag/legal.html">legal</a> victory by obtaining full approval to operate as a digital payment token services provider in Singapore.&nbsp; 
 The Monetary Authority of Singapore (MAS) granted the license, solidifying Ripple’s position in the cryptocurrency space. Just four months after receiving in-principle approval from the regulator, this development paves the way for Ripple’s local subsidiary, Ripple Markets APAC Pte Ltd, to expand its operations across the Asia Pacific region. 
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 It’s official: Ripple is now fully licensed to provide digital payment token services in Singapore by @MAS_sg! Ripple is committed to delivering real-world crypto solutions for businesses in APAC. 
 Learn more: https://t.co/jD8xSc2pdd 
 — Ripple (@Ripple) October 4, 2023 
 </blockquote> 
 
 The regulatory clarity provided by MAS has played a pivotal role in Ripple’s success in Singapore. CEO Brad Garlinghouse expressed his enthusiasm for the move, emphasizing Ripple’s readiness to create crypto solutions that enhance utility in the financial industry.&nbsp; 
 While the end-users stand to benefit, Ripple’s primary focus remains on businesses and financial institutions that can leverage its tailored products and services. 
 <h2 id="ripple-s-win-against-the-us-sec">Ripple’s win against the US SEC</h2> 
 The ongoing <a rel="noopener noreferrer nofollow" title="legal" href="https://thebittimes.com/tag/legal.html">legal</a> battle between Ripple and the United States Securities and Exchange Commission (SEC) took an interesting turn as Judge Analisa Torres denied the SEC’s request for an early appeal.&nbsp; 
 The decision is a significant setback for the SEC, as it sought to challenge two aspects of the judge’s summary judgment. 
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 The SEC’s request to file an interlocutory appeal is DENIED. I’m not a lawyer but it seems the Court just told the SEC: You asked me to apply the “Howey” test, I did, and like it or not, you lost. https://t.co/0E4MS0iuRY pic.twitter.com/bkhCpum17n 
 — Brad Garlinghouse (@bgarlinghouse) October 4, 2023 
 </blockquote> 
 
 In essence, the judge’s ruling distinguishes between Ripple’s different transactions involving XRP. Institutional Sales were categorized as sales of securities, while Programmatic Sales and Other Distributions were not.&nbsp; 
 The judge emphasized that Programmatic Buyers did not have the same expectation of Ripple generating profits on their behalf as Institutional Buyers did. 
</div> 
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/xrp-rallies-after-major-ripple-labs-legal-wins-tbt65040.html">https://thebittimes.com/xrp-rallies-after-major-ripple-labs-legal-wins-tbt65040.html</a>

XRP rallies after major Ripple Labs legal wins

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