XRP Price Rallies As Ripple Secures Key U.S. Licenses Amid Trump’s Pro-Crypto Stance: Retail Sentiment Improves
Synopsis
XRP’s price rally triggered significant liquidations in the last 24 hours, with $6.52 million in short positions and $4.65 million in long positions wiped out, according to CoinGlass data.
Ripple’s XRP rose by more than 9% on Tuesday morning, leading gains among major cryptocurrencies, as the company secured Money Transmitter Licenses (MTLs) in New York and Texas.
These licenses expand Ripple’s compliance footprint in the U.S., enabling it to facilitate legal cross-border payments for customers in these states, which could increase the adoption of XRP in real-world financial transactions.
This latest milestone brings Ripple’s total global licenses to over 55, including approvals in 33 U.S. states and major international markets.
The regulatory progress comes alongside the Securities and Exchange Commission’s (SEC) rolling back SAB 121, allowing banks to custody digital assets—further signaling a pro-crypto environment under President Donald Trump’s administration.
In a post on X (formerly known as Twitter), Ripple CEO Brad Garlinghouse called for cryptocurrencies like XRP to be included in the U.S. Strategic Reserve.
Last week, U.S. President Donald Trump said his administration will evaluate whether to create a national digital asset stockpile. He had backed the idea during his campaign ahead of the November elections.
On Stocktwits, retail sentiment around the altcoin improved to ‘neutral’ from ‘bearish’ a day ago as message volumes remained at ‘normal’ levels.
One user said it was unlikely that XRP would be included in the U.S. Strategic Reserve.
Another quipped about the potential dismissal of Ripple’s ongoing legal challenges under the new administration, seen to be more crypto-friendly.
XRP’s price rally triggered significant liquidations in the last 24 hours, with $6.52 million in short positions and $4.65 million in long positions wiped out, according to CoinGlass data.
This implies more bearish traders were forced to square-off their positions as XRP surged.
XRP has gained nearly 500% over the past year, with a 45% increase in the last month alone.
Ripple’s XRP Community Day is currently underway.
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