Ripple, Hedera and Aptos Labs Team Up to Strengthen Crypto Regulation in Europe

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Ripple, Hedera and Aptos Labs Team Up to Strengthen Crypto Regulation in Europe
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Ripple (XRP) has announced a major partnership with other founding companies in a new cryptocurrency alliance. The company has joined forces with Hedera and Aptos Labs to collaborate with the DLT Science Foundation (DSF), a non-profit organization that promotes the adoption of blockchain technology by companies across a variety of industries.

The DLT Science Foundation aims to foster an open ecosystem by encouraging collaboration between industry, academia, and developer communities. As part of this effort, the DSF announced the launch of the MiCA Crypto Alliance.

This is an initiative focused on facilitating cooperation between companies operating in the blockchain sector and that need to adapt to the complex regulatory landscape of the European Union (EU).

The main goal of the MiCA alliance is to help companies navigate the regulations of the European bloc, which recently implemented the MiCA (Markets in Crypto-Assets) package, imposing strict requirements for crypto-asset service providers (CASPs).

Ripple leads alliance focused on regulation

These companies, including centralized exchanges and other cryptocurrency platforms, are now required to disclose details about the environmental impact of their operations. They are also required to provide clear information in white papers and public descriptions online.

Meanwhile, Ripple’s native cryptocurrency XRP recovered some of its recent losses, holding steady above $0.5600. On Monday, the digital currency traded as high as $0.5731, indicating a slight upside from previous support.

According to technical analysis, the MACD (Moving Average Convergence Divergence) indicator is showing green bars above the neutral line, suggesting positive momentum in the XRP price. This opens up the possibility of additional gains of up to 15%, with the token eyeing a rally to $0.6602.

This level represents the 50% Fibonacci retracement point of the decline seen from the July 2024 high, when XRP reached $0.9380, to the bottom recorded in the same month at $0.3823.

Furthermore, XRP could find support between $0.5413 and $0.5556, a zone known as the Fair Value Gap (FVG). This could sustain its upward trend in the coming weeks. With the advancement of this new alliance and the consolidation of its price, XRP continues to be one of the cryptocurrencies most attentive to global regulation.

Ripple, Hedera and Aptos Labs Team Up to Strengthen Crypto Regulation in Europe

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Ripple, Hedera and Aptos Labs Team Up to Strengthen Crypto Regulation in Europe

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Ripple, Hedera and Aptos Labs Team Up to Strengthen Crypto Regulation in Europe

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