Grant an extension
Recent developments indicate that the IRS has delayed the implementation of the first-in, first-out (FIFO) accounting method for cryptocurrency transactions on centralized exchanges until December 31, 2025. This extension provides taxpayers with more time to adjust to the upcoming regulations. Coin Paper
In parallel, legal proceedings continue between Ripple Labs and the US Securities and Exchange Commission (SEC). The SEC has been directed to file its opening brief in the appeal against Ripple by January 15, 2025. This timeline suggests that the case could extend into 2026. Crypto Briefing
As for XRP market performance, as of January 1, 2025, XRP is trading at around $2.17. Analysts have mixed opinions on its future trajectory. Some forecasts suggest that if XRP maintains support above $2.20, it could reach $10 by 2025. Finance Magnates
It is important to note that while Ripple's leaders remain optimistic about the company's future, there have been no official announcements confirming specific events or developments scheduled for 2025.
Given the dynamic nature of the cryptocurrency market and regulatory environment, investors are advised to stay informed through official channels and consult financial advisors when making investment decisions.
Will 2025 be the year XRP dominates the market? 🤔 Don’t miss out—stay informed and be prepared
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