XRP sees $20B inflow as Ripple v. SEC case officially ends
Main Idea
XRP surged 11.4% to $3.33 following a legal resolution between Ripple and the SEC, which dismissed all remaining appeals, providing regulatory clarity and boosting market activity.
Key Points
1. XRP's price surged 11.4% to $3.33, increasing its market capitalization by over $20 billion.
2. The rally followed a joint dismissal of all remaining appeals in the Ripple vs. SEC case, finalizing Judge Analisa Torres’ 2023 ruling.
3. The legal clarity removes regulatory uncertainty, making XRP the first altcoin with U.S. court-backed legal status.
4. Trading volume spiked 189% to $11.8 billion, with Binance’s XRP volume jumping 172% post-announcement.
5. Technical indicators suggest potential for further gains, though whale activity may temper short-term growth.
Description
XRP surged 11.4% in the past 24 hours to $3.33, adding more than $20 billion to its market capitalization overnight and outperforming the broader crypto market’s 2.69% gain. The rally pushed XRP’s valuation to $198 billion as trading volume spiked 189% to $11.8 billion, according to CoinMarketCap data. XRP market cap sees $20 billion increase. Source: CoinMarketCap The move followed a landmark legal development: on August 8, Ripple and the U.S. Securities and Exchange Commission (SEC) jointly di...
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