Important Ripple News and XRP Price Update: October 22

XRP was rejected once again at $1.40, but it has defended the $1.30 support, for now at least. In this article, we will review some of the most important news, partnerships, and developments around the broader Ripple ecosystem, including the company’s ongoing effort to expand its regulatory and institutional footprint. We will also check to see what has happened with the XRP ETFs, as there’s finally some good news, but in a very modest manner, and we will talk about the underlying asset’s price. Ripple and XRPL Let’s begin with a report from earlier this week, which informed that Ripple has backed the proposed Regulation Crypto Assets framework made by the US Securities and Exchange Commission. The company argued that the industry needs clear legislation instead of case-by-case enforcement. Ripple was particularly supportive of the principle that the investment contract, rather than the token itself, should determine whether the asset is a security. It also pushed back against several classifications it believes could recreate regulatory uncertainty. The firm also expanded its institutional presence through 24/7 RWA perpetual swaps via its own prime brokerage, Ripple Prime. Additio...