{"id":46852,"date":"2021-07-28T16:41:24","date_gmt":"2021-07-28T13:41:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46852"},"modified":"2025-09-01T18:30:24","modified_gmt":"2025-09-01T15:30:24","slug":"xrp-rises-14-as-ripple-expands-in-the-asia-pacific-region","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/xrp-rises-14-as-ripple-expands-in-the-asia-pacific-region\/","title":{"rendered":"XRP rises 14% as Ripple expands in the Asia-Pacific region"},"content":{"rendered":"<p>On Wednesday, July 28, the XRP token price at the time reached $0.74, a monthly high. The token rose 14%, according to <a href=\\\"https:\/\/www.coingecko.com\/en\/coins\/xrp\\\">CoinGecko<\/a>.<\/p>\n<p>At the time of writing, the token is trading at around $0.73.<\/p>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"502\\\" src=\\\"https:\/\/forklog.com\/wp-content\/uploads\/xrp-14-1024x502.png\\\" alt=\\\"XRP rose 14% on Ripple expansion in the Asia-Pacific region\\\" class=\\\"wp-image-144031\\\" srcset=\\\"https:\/\/forklog.com\/wp-content\/uploads\/xrp-14-1024x502.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/xrp-14-300x147.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/xrp-14-768x377.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/xrp-14-1536x754.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/xrp-14.png 1828w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Hourly XRP\/USDT chart on Binance. Data: <a href=\\\"https:\/\/ru.tradingview.com\/symbols\/XRPUSDT\/\\\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The price rise came as Ripple expanded in the Asia-Pacific region. The company announced the launch of a Japan\u2013Philippines payment corridor based on the On-Demand Liquidity (ODL) solution, which uses XRP as a bridge between fiat currencies.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Announcing our newest On-Demand Liquidity corridor in (drumroll please\u2026) JAPAN \ud83c\uddef\ud83c\uddf5! <a href=\\\"https:\/\/t.co\/xiHXnYjo6z\\\">https:\/\/t.co\/xiHXnYjo6z<\/a><\/p>\n<p>\u2014 Ripple (@Ripple) <a href=\\\"https:\/\/twitter.com\/Ripple\/status\/1420263849693900804?ref_src=twsrc%5Etfw\\\">July 28, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Ripple&#8217;s partners included <span data-descr=\\\"A Japan-based group of companies\\\" class=\\\"old_tooltip\\\">SBI Holdings<\/span> Remit, a money-transfer provider, and <span data-descr=\\\"SBI Holdings\\\" class=\\\"old_tooltip\\\">SBI VC Trade<\/span>, the digital-asset platform, both part of Japan&#8217;s <span data-descr=\\\"Japan's Financial Services Agency\\\" class=\\\"old_tooltip\\\">FSA<\/span>, as well as Coins.ph, a Philippine bitcoin-payments service.<\/p>\n<p>According to Ripple, Filipino expatriates living in Japan send about $1.8 billion home each year. The Philippines ranks third among remittance destinations in the Land of the Rising Sun.<\/p>\n<p>The company also noted that the cost of transfers from Japan (a 10.5% fee) is almost twice the average for the G7 and Russia (5.92%).<\/p>\n<p>Ripple enjoys strong support from the Japanese community. The company has long-standing ties with <span data-descr=\\\"SBI Holdings\\\" class=\\\"old_tooltip\\\">SBI<\/span>, and XRP tokens are also used by Nomura, the financial holding.<\/p>\n<p>In December 2020, the <span data-descr=\\\"U.S. Securities and Exchange Commission\\\" class=\\\"old_tooltip\\\">SEC<\/span> accused Brad Garlinghouse&#8217;s company of selling <a href=\"https:\/\/forklog.com\/en\/news\/sec-files-suit-against-ripple\">unregistered securities as XRP tokens<\/a> to retail investors. The parties have yet to resolve the dispute.<\/p>\n<p>The Japanese <span data-descr=\\\"Japan's Financial Services Agency\\\" class=\\\"old_tooltip\\\">FSA<\/span> <a href=\"https:\/\/forklog.com\/en\/news\/japan-regulator-says-xrp-is-not-a-security\">considers XRP a cryptocurrency<\/a>, not a security. The same view is shared by <a href=\"https:\/\/forklog.com\/en\/news\/japanese-financial-giant-sbi-holdings-backs-ripple\">SBI Holdings<\/a> and Nomura.<\/p>\n<p>Earlier, Garlinghouse said that regulatory pressure on the crypto industry could force Ripple to leave the United States. As possible destinations, he named the United Kingdom, Switzerland, Singapore, and Japan.<\/p>\n<p>In March, the head of Ripple noted that the SEC case did not damage its business in the Asia-Pacific region. He said the company could continue to grow in Asia and Japan because these markets have a clear regulatory framework.<\/p>\n<p>In March, Ripple acquired 40% of Tranglo, the Asian company specializing in cross-border payments.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Wednesday, July 28, XRP traded at $0.74, a monthly high. The token rose 14%.<\/p>\n","protected":false},"author":1,"featured_media":46853,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2008,112],"class_list":["post-46852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-odl","tag-ripple"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/46852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=46852"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/46852\/revisions"}],"predecessor-version":[{"id":46854,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/46852\/revisions\/46854"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/46853"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=46852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=46852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=46852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}