Prominent industry commentators believe XRP is now in an ideal position for widespread adoption by financial institutions across the U.S.
This perspective is supported by Ripple’s expansive regulatory licenses for payment services in the United States. Specifically, Ripple has secured over 50 Money Transmitter Licenses (MTLs) across the U.S.
Notably, the licensing includes highly regulated jurisdictions such as New York and Texas. The company achieved this milestone late last month.
These approvals allow Ripple to legally offer cross-border payment services using XRP and its RLUSD stablecoin. In a tweet, notable XRP researcher SMQKE highlighted the significance of these licenses.
Institutional Giants Can Now Use XRP with Confidence
According to SMQKE, Ripple’s successful navigation of the regulatory landscape means that major financial institutions, including Bank of America and Santander, can now utilize XRP for their cross-border payment solutions.
SMQKE emphasized that the necessary systems, structures, and regulatory approvals are already in place. In their view, this makes it easier for banks and other financial institutions to incorporate XRP into their payment networks without concerns about legal or compliance issues.
Earlier, industry leaders like David Stryzewski of Sound Planning Group mentioned on live TV that top banks, such as Bank of America, were running “100% of internal transactions” via XRP. While the claim remains unconfirmed, the revelation triggered massive excitement in the XRP community.
Ripple’s Continued Expansion
With Ripple’s most recent regulatory clearance in New York, its presence in the U.S. now includes 55 global licenses across 33 U.S. states.
Despite legal challenges from the SEC, Ripple continues to grow, processing $70 billion in payments across 90+ markets in 2024. The company is also expanding its U.S. workforce and bolstering RLUSD issuance on the XRP Ledger.
Matthew Snider of Digital Wealth Partners sees this as a sign of Ripple’s increasing influence and the potential for mainstream adoption of XRP.
XRP Price Not Moving?
Meanwhile, some XRP holders are wondering when these promising developments will translate into massive price growth for XRP.
Responding to SMQKE’s post, an X user asked why XRP’s price “isn’t going anywhere” despite all the whales and institutions buying XRP for utility.
For context, XRP is trading at $2.02, down by over 9% in the last 24 hours. Also, in the past seven days, the situation is even worse, with a 25% drop.
Meanwhile, SMQKE responded to the price concerns from a historical perspective, noting that XRP has done a 10X jump from $0.30 to $3.30.
The price 10x’d from .30 to 3.30.
— SMQKE (@SMQKEDQG) February 27, 2025
Notably, while XRP’s recent price actions have been underwhelming, it boasts a massive one-year gain of 247%. This far outpaces the figures for Bitcoin and Ethereum.
