XRP Price Prediction: Will CFTC Oversight Boost XRP❓👀👇
XRP gained 0.70% on Sunday, ending the day at $0.4755. The cryptocurrency market is closely watching the SEC's cases against crypto companies, which could impact XRP's price.
Following the SEC's court ruling against Binance, many wonder if a similar ruling in the SEC's case against Coinbase will benefit XRP. John E. Deaton, the attorney representing 75,000 XRP holders, played a significant role in the Binance case and believes XRP is not a security.
The SEC's case against Binance could set a precedent for the broader crypto market, including XRP. If the court rules that cryptos are not securities, it could pave the way for XRP spot ETFs and a more innovation-friendly environment.
The Commodity Futures Trading Commission (CFTC) would have greater authority over the US digital asset space, which could benefit XRP and the crypto market. The Responsible Financial Innovation Act, a bipartisan bill, would support innovation while protecting consumers.
In summary, the crypto market is watching the SEC's cases closely, and a favorable ruling could boost XRP's price and pave the way for greater adoption.