Crypto Update: XRP, Aptos, and Chainlink Make Headlines

• Ripple’s ongoing legal battle with the SEC drives renewed attention to XRP.
• Aptos Labs acquires HashPalette to strengthen its position in the Japanese blockchain market. 
• Chainlink enhances blockchain interoperability through a key partnership with SWIFT

XRP, Aptos, and Chainlink are hot topics in the crypto world as major developments unfold. 

XRP remains in the spotlight due to Ripple’s ongoing SEC legal battles, while Aptos is gaining attention after Aptos Labs acquired HashPalette Inc. and Franklin Templeton launched its OnChain U.S. Government Money Fund on the Aptos blockchain.

Meanwhile, Chainlink continues to expand with its successful collaboration with SWIFT in blockchain interoperability through its Cross-Chain Interoperability Protocol (CCIP), strengthening its position in connecting blockchain networks for financial institutions.

XRP Gains Traction Amid Legal Battles

XRP has surged in discussions due to two major developments. According to Santiment data, traders are excited over the recent Bitwise filing for an exchange-traded product (ETP) linked to XRP. Additionally, Ripple’s ongoing legal case with the U.S. Securities and Exchange Commission (SEC) remains a central topic. 

On October 2, the SEC announced its intention to appeal the ruling that classified XRP as a non-security. This appeal has sparked debate about the future of Ripple’s operations and the potential impact on XRP holders. Despite these legal battles creating uncertainty, there is significant interest in the token.

After the SEC’s appeal notice, the XRP price tumbled by over 11% yesterday, almost losing the psychological $0.5 level. XRP continued falling today and is currently trading at $0.5246, down 1.7% in the last 24 hours.

Aptos Expands with Acquisition and Institutional Backing

The goal of Aptos Labs’ acquisition of HashPalette Inc. is to expand its presence in the Japanese blockchain market. Santiment notes that institutional backing for the project is growing, especially with Franklin Templeton launching its OnChain U.S. Government Money Fund on the Aptos blockchain.

Moreover, APT rose among discussions following its recent price breakout from an extended consolidation zone. According to Aptos Scan, Aptos network activity has been on the rise, with transaction speeds reaching 1,051 transactions per second on October 3. 

Chainlink Advances with SWIFT Collaboration

Chainlink continues to capture attention due to its involvement in SWIFT’s blockchain interoperability efforts. This partnership improves the functionality of the World Mobile network, allowing users to stake tokens on one blockchain and receive rewards on another while maintaining security through CCIP’s Risk Management Network.