New York, March 11, 2026, 13:46 (EDT)
- XRP slipped roughly 1.4% for the day, hovering just below $1.40.
- Ripple is aiming to lock down an Australian Financial Services Licence, lining up to buy BC Payments Australia in the process.
- Crypto markets remained on edge, with traders eyeing moves in oil, developments around Iran, and U.S. inflation.
XRP hovered around $1.40 on Wednesday, slipping about 1.4% for the session. Ripple announced plans to snap up BC Payments Australia, aiming for an Australian Financial Services Licence. Trading action saw XRP shifting between $1.37 and $1.42.
This shift carries weight as Australia steers digital-asset firms into the same licensing regime as traditional financial players, while Ripple keeps moving ahead with regulated cross-border payments outside the U.S. Back in November, Treasury outlined in its Digital Assets Framework Bill that digital-asset platforms would need to secure an AFSL. ASIC noted many providers are already required to hold a licence, offering no-action relief to the sector until June 30, 2026.
To operate a financial-services business in Australia, firms require an AFSL. Ripple says having this licence means it can handle a transaction from onboarding right through to compliance, funding, currency conversion, and final payout. “Licensing is fundamental to Ripple’s strategy,” said Fiona Murray, Asia-Pacific managing director. Ripple added that its APAC payments volume almost doubled in 2025, and it now holds over 75 regulatory licences globally. ASIC
Trading stayed quiet. Bitcoin hovered at $71,065, while ether held near $2,076 on Wednesday. XRP moved mostly in line with the other big tokens.
The mood lines up. According to Reuters, bitcoin gained 2% on Tuesday when oil dropped and risk appetite picked up. By Wednesday, it was hovering near $70,871, traders shifting their focus back to concerns that the Iran conflict might sustain high energy prices and complicate the inflation picture.
The crypto market keeps feeling the weight of bigger macro forces. Kyle Chapman at Ballinger Group flagged the ongoing war in Iran and stubborn energy prices as the “predominant focus” in currency trading circles. Over at UBS, Shahab Jalinoos noted that clients want to know what happens if energy costs stay high and feed into inflation. Reuters
Ripple continues to contend with the fallout from its U.S. courtroom clash. Back in August, Reuters said the Securities and Exchange Commission and Ripple pulled their appeals, effectively cementing a $125 million fine and wrapping up one of the biggest legal battles tied to XRP sales to institutional buyers.
Still, the immediate hazards stand out. Ripple noted the BC Payments acquisition hasn’t cleared the usual closing steps yet, and a sudden jump in oil or persistent U.S. inflation could send traders fleeing from riskier plays like crypto. Pepperstone’s Michael Brown, in a Tuesday note, flagged that markets remain “laser-like focused” on both geopolitical news and oil prices. Ripple
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