Ripple's RLUSD Approval Spurs XRP Rally Despite Regulatory Hurdles

XRP News Today: RLUSD Approval Fuels XRP Rebound

According to FX Empire, Ripple's USD stablecoin (RLUSD) has received approval from the New York State Department of Financial Services. This regulatory green light is a significant milestone for Ripple as it aims to expand its presence in the United States and challenge traditional banking systems. The announcement by CEO Brad Garlinghouse highlighted that exchange and partner listings would soon be live, marking an important step forward for the company.

The approval could also impact ongoing legal battles with the SEC, which had previously labeled RLUSD as an unregistered crypto asset. With this development, XRP saw a 7% rally on December 10th despite broader market declines. Investors are closely watching today's Senate Banking Committee vote regarding SEC Commissioner Carline Crenshaw’s renomination, which may influence future regulatory actions against Ripple.

Dogecoin Price Target Remains $3 Despite Market Bloodbath

Bitcoinist reports that Dogecoin continues to attract bullish sentiment even amidst recent market turmoil where cryptocurrency prices have significantly declined. Analyst Ali Martinez remains optimistic about Dogecoin's potential growth trajectory despite its current price drop of 8%. He suggests that this correction presents a buying opportunity within specific strategic ranges between $0.30 and $0.40.

This prediction aligns with historical trading patterns observed since 2017, indicating consistent higher highs and lows within an uptrend channel targeting around $3 per coin eventually if conditions remain favorable over time.

Microsoft Shareholders Oppose Bitcoin Treasury Allocation

A report from CryptoSlate reveals Microsoft shareholders voted against adding Bitcoin (BTC) to their treasury following recommendations made by MicroStrategy executive chairman Michael Saylor. The opposition was due to various concerns and considerations beyond the technological innovation opportunities Bitcoin might present.

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