- Ripple’s US-based hiring now constitutes 75% of open roles, reflecting increased confidence in the domestic crypto regulatory environment.
- Optimism grows as Ripple signs more US deals in six weeks than six months, signaling significant market activity.
- XRP was trading at $2.39, giving it a neutral bullish signal. Its RSI value of 57.65 suggests consolidation ahead of another leg up.
The latest development shows that Ripple is gradually expanding its operation in the United States as more Californian firms show appreciation for the country’s digital currency market. This transition comes against the backdrop of an evolving regulatory landscape as the company aims to tap into other markets in the region.
Ripple’s Hiring Strategy Turns to the US
The firm reveals that out of all open positions today, 75% are in the United States, based on the Ripple Recruiting Update. This move negates the past development approaches where the company adopted the focus of recruiting internationals. Ripple is now focusing on the US more than it previously did and this may be because the firm and the industry are now more optimistic of clarity on the illegality of using such services from the US.
Furthermore, in the last six weeks of the year 2024, the company signed more deal-based networks in the United States than in the six months prior. They point to a rebound in confidence in the domestic market which investors hope may be followed by a change in the stance by the SEC.
SEC Appeal Remains a Key Factor
Uncertainty still surrounds the SEC’s appeal in the Ripple case, which remains a pivotal factor for XRP’s future growth. Its opening brief is due on January 15, so market participants continue to stand on tenterhooks.
However, if Paul Atkins is appointed as the new SEC Chair then this short will lead to the withdrawal of the appeal. Such a move would set a legal precedent which could see the creation of a US-based XRP spot ETF market. This idea may help boost XRP’s market standing and possibly benefit the rest of the cryptocurrency industry.
XRP is at the moment being traded at around $2.39 hence a slightly higher value of 0.45% within the last one day. A look at the market signifies some degree of optimism with the Relative Strength Index (RSI) slightly above the midline at 57.65 which points to neutrality and mild bulls.
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