Ripple could become a major platform for cross-border payments

The CFPB's assessment came with a major caveat. The bureau doesn't expect Ripple to dislodge legacy payment networks anytime soon. The agency's research favored established systems for the immediate future, arguing that newer competitors will take years to gain ground. That said, the CFPB acknowledged that Ripple's expanding network of partnerships could eventually shift how the industry moves money, much like fintech startups disrupted traditional banking.

Ripple has signed on hundreds of banks and financial institutions. SBI Holdings, a major Japanese financial player, announced plans to integrate Ripple's payment and settlement system into Japanese ATMs, potentially opening new channels for XRP adoption.

XRP's price action told a different story. The token rallied above $0.205 over the weekend but fell over the past day, settling near $0.201. The move kept XRP hovering at critical support around $0.200, far below its April 30 high of $0.24. Trading over the past 24 hours showed minimal gains. Traders watched the token's weakness with concern, especially after recent sessions saw it drop through several key levels. Bitcoin remained stuck below $10,000, a drag on altcoin performance. One analyst warned that if XRP dropped below yesterday's close of $0.199, the token could slide all the way to $0.15. Intraday trading touched lows at $0.200 and peaks near $0.207. Tether briefly claimed third place by market cap, bumping XRP down the rankings.