XRP Price Soars 67% After Ripple Wins Against SEC

Liputan6.com, Jakarta – The XRP price remained in the green zone until trading Friday afternoon local time, (14/7/2023). Even the price of XRP skyrocketed above 60 percent.

Based on Coinmarketcap data, Friday this week, the price of XRP has skyrocketed 67.47 percent in the last 24 hours. Over the past week, the price of XRP has soared 69.10 percent. Currently, the price of XRP is at USD 0.7887. Currently, the market capitalization of XRP is around USD 41.4 billion.

To quote CNBC, the price of XRP soared after a judge in the southern district of New York ruled XRP was not a security. The news gives hope to crypto investors, and breathes a sigh of relief that other altcoins may not be considered securities.

Along with this news, the price of polygon matic increased 17.82 percent, Litecoin and Solana jumped 18.35 percent, Cardano rose 20.31 percent. Bitcoin and ether prices also found a boost by more than 4 percent and 6 percent, respectively.

“The judge’s decision is a huge step forward for the industry. By assessing XRP is not a security, we are starting to get clarity on what is meant by a security and what is a commodity,” said Amberdata’s Head of Research, Chris Martin. CNBC.

He added that the SEC should revise its tactics in several ongoing cases. “I hope this decision will involve some other tokens as non-securities,” he said.

Meanwhile, Coinbase, which previously removed XRP from its trading platform, tweeted on Thursday afternoon that it would now allow trading assets again. Meanwhile, Gemini is exploring XRP registration for spot and derivatives trading.

“Ripple’s decision to sell XRP as an institutional security also has major implications for the industry with several ICOs now likely to be in the spotlight,” added Martin.

“For exchanges caught in the ongoing SEC case, it’s unclear how this decision will affect them. Most are engaged only in secondary sales. But as we can see by today’s prices, the market is very bullish on its decision,” he added.