Regulatory Milestone in Europe
The price of XRP saw a notable increase of approximately 3% over a 24-hour period, coinciding with Ripple's successful acquisition of a crucial regulatory license in another significant European jurisdiction.
Ripple announced on January 14 that it has obtained preliminary approval for an Electronic Money Institution (EMI) license from Luxembourg's Commission de Surveillance du Secteur Financier (CSSF). The CSSF is the primary regulatory authority overseeing the financial sector within Luxembourg, a key country in Western Europe.
This development is described by Ripple as a "pivotal" step towards enhancing the scalability of Ripple Payments and introducing institutional-grade digital asset infrastructure to the European Union.
This follows closely on the heels of Ripple securing an EMI and Cryptoasset Registration from the United Kingdom's Financial Conduct Authority (FCA) just last week. The FCA is responsible for regulating financial firms that offer services to customers in the UK, both for retail and wholesale markets.
With an established presence in Europe, including offices in London, Dublin, Luxembourg, Geneva, and Reykjavik, Ripple currently provides enterprise-grade digital asset solutions to a number of financial institutions across the continent. To date, Ripple has secured over 75 regulatory licenses globally, in addition to these recent approvals.
Ripple president Monica Long emphasized the significance of this expansion, stating, "By extending Ripple’s licensing portfolio and evolving our payments solution, we are doing more than just moving money. We are managing the end-to-end flow of value to unlock trillions in dormant capital and moving legacy finance into a digital future."
Cassie Craddock, Ripple's Managing Director for the UK & Europe, commented on Luxembourg's regulatory environment, saying, "Thanks to the CSSF’s progressive and sophisticated approach to supervision, Luxembourg is establishing itself as a premier hub for financial innovation by providing the harmonised framework and legal certainty that our industry needs."
"Gaining our preliminary approval is a pivotal step, enabling Ripple to provide essential blockchain infrastructure to clients across the EU."
Broader Market Trends Boost XRP, Bitcoin, and Ether
On January 14, XRP reached a price of $2.12, marking an increase of over 2.7% in the preceding 24 hours, directly correlating with Ripple's preliminary license acquisition in Luxembourg.
However, the upward movement in XRP's price is also indicative of a wider surge across the cryptocurrency market over the last 24 hours, influenced by several contributing factors.
Firstly, the U.S. Bureau of Labor Statistics released the December inflation report on January 13. The consumer price index for all urban consumers (CPI-U) rose by 2.7% over the preceding 12 months. This moderation in inflation has led to improved liquidity conditions, which generally benefits crypto assets.
Secondly, on January 9, the Department of Justice issued grand jury subpoenas to the Federal Reserve, pertaining to Federal Reserve Chair Jerome Powell's Senate testimony in June 2025 concerning renovations to the central bank's office buildings. Powell responded that the administration's pressure was less about his testimony and more about the Fed's autonomy in setting interest rates based on its own assessments, rather than conforming to President Donald Trump's preferences. It is noteworthy that Trump had previously urged Powell to lower interest rates and had even suggested the possibility of firing him.
Nevertheless, the renewed uncertainty surrounding the independence of the Federal Reserve has weakened the U.S. dollar, consequently boosting crypto assets, which are often viewed as hedge assets against currency devaluation.
The total cryptocurrency market capitalization experienced a rise of over 3% in the last 24 hours, reaching $3.32 trillion.
Bitcoin (BTC) was trading at $95,049.33, up 3%, while Ethereum (ETH) was trading at $3,300.63, showing a 5% increase.