Top Exchange Releases XRP Bullish Report for the Week
Main Idea
Uphold's weekly report highlights the resolution of the Ripple-SEC lawsuit and its positive impact on XRP's market performance, noting a 12% price increase and favorable policy developments.
Key Points
1. Ripple and the SEC have withdrawn their appeals, officially ending the long-running lawsuit, leaving the 2023 federal court ruling in place.
2. XRP outperformed other major altcoins, rising by 12% to a peak above $3.30, driven by favorable macro headlines and U.S. policy developments.
3. Key policy factors include a new rule for 401(k) retirement accounts' crypto exposure and the nomination of a Federal Reserve official critical of the dollar's strength.
4. As of the report's release, XRP was trading at approximately $3.31, with a weekly range between $3.18 and $3.33, showing resilience after a mid-week dip.
5. Uphold's technical analysis suggests monitoring the $3.30 to $3.35 range for potential breakout trends following the resolution of the SEC case.
Description
Crypto exchange Uphold has released its latest weekly report on XRP, highlighting significant legal and market developments. The update confirmed that after nearly five years of litigation, both Ripple and the U.S. Securities and Exchange Commission (SEC) have withdrawn their respective appeals, formally concluding the long-standing lawsuit. According to Uphold, the resolution leaves in place the 2023 federal court ruling that determined XRP sales on secondary markets do not constitute securitie...
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