Ripple recently made headlines by enhancing its global operations, drawing significant attention after being mentioned in the Epstein files, which sparked widespread controversies.

Expansion in Europe

Earlier this year, Ripple secured preliminary approval for an Electronic Money Institution license from the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. They now have full authorization, marking a transformative milestone for their expansion.

“Securing our full EMI license in the EU is a transformative milestone that reinforces Ripple’s presence at the heart of European finance. Europe has always been a strategic priority for us, and this authorization allows us to scale our mission of providing robust, compliant blockchain infrastructure to clients across the EU. We are now better positioned than ever to help European businesses transition into a more efficient, digital-first financial era.” - Cassie Craddock, Managing Director at Ripple

Prior to this, Ripple’s UK subsidiary obtained registration with the Financial Conduct Authority (FCA), ensuring compliance with UK anti-money laundering and counter-terrorism financing regulations.

The Epstein Connection

Recently, the US Department of Justice released extensive materials related to Jeffrey Epstein, notably mentioning Ripple in relation to an email from Austin Hill to Epstein and Joichi Ito, where Hill expressed concerns over Ripple and Stellar’s impact on the ecosystem.

X user Dr. Russel McGregor advised Ripple’s team to press for the release of any documents that may show Epstein’s influence on early cryptocurrency policy.

XRP Price Outlook

Despite facing challenges, XRP recently dropped to a 14-month low around $1.50, but currently, it is trading at approximately $1.64, reflecting a 14% decline over the past week.

Multiple analysts, however, anticipate a potential rebound, suggesting that a liquidity grab might soon follow the current downturn.