XRP surged by more than 25%! Ripple won the lawsuit against the SEC, and the crypto community was boiling!
Hey, friends, there is big news today! XRP suddenly jumped in the early morning and directly broke through the $0.64 mark. Although it has fallen back a bit now, it is reported at $0.5915 per coin, but the increase in one day is more than 25%! This is not driven by the overall market, but all the new developments in the lawsuit between Ripple and the SEC in those years.
The lawsuit between Ripple and the SEC has been going on for four years, which is simply a marathon. Today, Ripple finally won another round. Although it was fined $125 million, this amount is far lower than what the SEC wanted at the beginning. It is simply a big bargain! Jeremy Hogan, a big name in cryptocurrency, said that this is great news for Ripple.
Do you know? The key to this lawsuit is whether XRP is a security. Now the court says that XRP is not a security, but a commodity! Now, the SEC's obstruction to the XRP community is gone, and the entire crypto community is happy.
However, let's not be too happy too soon. The SEC still has 60 days to appeal, so the future of XRP is still a little uncertain. But then again, Ripple's lawsuit has been going on for so long, and it is almost seeing the light of day.
Let's look at the price of XRP again. This wave of increase is simply crazy! The market value is rising rapidly, and social media is also discussing it hotly. Analysts say that XRP is about to start the third wave of surge, with the target directly pointing to $1, and some even conservatively estimate that it can reach $0.75.
Moreover, RippleX also announced that it would reset the XRPL test network to make the network more stable and efficient. This is simply adding another layer of insurance to the future of XRP.
So, although the price of XRP has fluctuated a bit in the past week, it is still very strong overall. If it can break through the resistance level of $0.71, it is not a dream to rise to $0.85. Let's wait and see!
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