XRP fell 2.47% on Wednesday and traded near $1.38 as caution spread across the crypto market before key US inflation data. Risk appetite weakened across major digital assets, and XRP remained pinned below the $1.40 area.
Even with the softer price action, attention shifted to Ripple’s regulatory push in Australia. The company confirmed plans to acquire BC Payments Australia as part of an effort to obtain an Australian Financial Services License (AFSL) and expand its licensed operations in the country.
Deal would give Ripple direct control over core financial operations
The transaction is scheduled to close on April 1, subject to standard regulatory and contractual conditions. Once completed, Ripple would be able to directly handle several financial functions in Australia, including customer onboarding, compliance oversight, foreign exchange processing, and fund flow management.
The license would also allow Ripple to connect digital asset services more closely with traditional banking infrastructure. That includes liquidity management and settlement across payment rails that combine conventional finance with blockchain-based systems. Asia Pacific Managing Director Fiona Murray said the regulatory approval supports Ripple’s broader regional expansion plans.
Australia becomes a key piece of Ripple’s Asia-Pacific strategy
Ripple executives described Australia as an important base for strengthening blockchain payments infrastructure in the Asia-Pacific region. The move shows the company is not only building product reach but also trying to deepen its regulatory footing where payments activity can scale.
AFSL status matters beyond branding. It covers practical parts of the operating stack, especially compliance processes, FX handling, settlement, and day-to-day control of licensed payment flows. Those functions are central to any cross-border payments business.
XRP remains capped below $1.40 while traders watch support
On the market side, XRP continued to trade just under a visible resistance zone, with spot price changing hands around $1.3766. Sellers have so far kept control around $1.40, leaving the token short of a technical breakout.
Analysts noted that a firm close above that level could revive buying interest and open a path toward $1.50. If price weakens instead, traders are still focused on support near $1.30; a break below that zone could expose the next area around $1.20.
Derivatives volume jumps as open interest edges higher
Momentum signals still point to a market waiting for direction. MACD is moving toward the zero line, which suggests balanced momentum rather than a strong trend. RSI is holding near the neutral 50 level, showing neither bulls nor bears have taken clear short-term control.
Derivatives activity, though, picked up sharply. Trading volume across XRP futures and perpetual contracts rose 17% to about $4.18 billion, while open interest increased 0.47% to roughly $2.40 billion. That combination suggests traders are still adding positions even as the market waits for a clearer move.