The price of XRP climbed roughly 3% in 24 hours as Ripple secured a regulatory license in another major European country.
Ripple announced on Jan. 14 that the blockchain technology and crypto company has secured a preliminary Electronic Money Institution (EMI) license approval from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF).
CSSF is a regulatory body in Luxembourg that oversees the financial sector in the Western European country.
Related: Ripple-backed firm faces $220M unrealized loss as XRP slides
The latest development is a “pivotal” step toward scaling Ripple Payments and bring institutional-grade digital asset infrastructure to the EU, the company said.
It was only last week that Ripple secured the EMI and license and Cryptoasset Registration from the United Kingdom’s Financial Conduct Authority (FCA). The FCA regulates financial firms providing retail and wholesale services to customers in the UK.
With offices in London, Dublin, Luxembourg, Geneva, and Reykjavik, Ripple provides enterprise-grade digital assets solutions to several financial institutions in Europe.
Besides these recently secured licenses, Ripple has already secured more than 75 regulatory licenses around the world.
Ripple president Monica Long said, “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, UK & Europe, said, “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.”
XRP climbed to $2.12 on Jan. 14, up more than 2.7% in the last 24 hours as Ripple secured the preliminary license in Luxemburg.
However, the rise in XRP’s price is part of the broader surge in the crypto market over the last 24 hours due to a range of factors.
First, the U.S. Bureau of Labor Statistics released the December 2025 inflation report on Jan. 13.
Last month, the consumer price index for all urban consumers (CPI-U) increased 2.7% over the last 12 months. Lower inflation improved liquidity conditions, which tends to favor crypto assets.
Second, on Jan. 9, the Department of Justice served the Federal Reserve with grand jury subpoenas related to Chair Jerome Powell’s Senate testimony in June 2025 regarding the renovation of the central bank’s office buildings.
Powell retorted that the administration threat is less about his testimony and more about the Fed setting interest rates based on its own assessment rather than bowing to President Donald Trump’s preferences.
Note that Trump has repeatedly pressured Powell to lower interest rates and even threatened to fire him.
Nonetheless, the renewed uncertainty around the independence of the Fed weakened the U.S. dollar, and boosted crypto assets as they are viewed as hedge assets in the face of currency devaluation.
The total crypto market cap rose more than 3% in the last 24 hours to $3.32 trillion.
Bitcoin (BTC) was trading at $95,049.33, up 3%. Ethereum (ETH) was trading at $3,300.63, up 5%.
This story was originally published by TheStreet on Jan 14, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.