XRP Gains Momentum with Legal and Technical Tailwinds

XRP has received a significant boost with a landmark ruling in India granting it property status, a move that strengthens investor rights and boosts confidence in digital asset ownership. Furthermore, XRP price charts are showing a "hidden bullish divergence," a technical signal that has historically preceded 50%-70% rallies. Adding to Ripple's ecosystem strength, its US dollar-pegged stablecoin, RLUSD, has entered the top 10 stablecoins by market cap, reaching $1 billion less than a year after launch.

Broader Market Dynamics and Regulatory Landscape

In the wider crypto sphere, Mastercard’s rumored $2-billion crypto deals could pave the way for 24/7 settlement in traditional finance, though challenges related to liquidity, risk, and compliance remain. Meanwhile, the EU's plan to centralize crypto oversight under ESMA is causing division within the industry, with concerns that extending ESMA jurisdiction could slow innovation for crypto and fintech companies. Separately, Forward Industries, a company holding over $1 billion worth of Solana, experienced a notable share price plunge. The legal saga of former FTX CEO Sam Bankman-Fried continues, as he pursues an appeal for a new trial while serving a 25-year sentence.