Rippleās XRP has surged 270% over the past 30 days, reaching a high of $1.90 after prolonged bearish sentiment.
Author: Sahil Thakur
Written On: Sun, 01 Dec 2024 04:16:06 GMT
Rippleās XRP has surged 270% over the past 30 days, reaching a high of $1.90 after prolonged bearish sentiment. This rally follows optimism surrounding a potential shift in U.S. cryptocurrency regulation as a crypto-friendly administration prepares to take office.
Ripple continues to navigate its legal challenges with the U.S. Securities and Exchange Commission (SEC). The SEC accuses Ripple of violating securities laws by issuing XRP. In July 2023, U.S. District Judge Analisa Torres ruled that XRP was not a security when sold to retail investors on exchanges. However, the court classified institutional sales as securities, resulting in a reduced penalty of $125 million, far less than the SECās requested $2 billion fine.
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The market has responded positively to the possibility of regulatory changes under President-elect Donald Trumpās administration. Giancarlo highlighted that a shift to pro-crypto policies could reshape how agencies like the SEC approach digital asset regulation. This sentiment, coupled with Rippleās legal momentum, has driven renewed investor confidence in XRP.
The Ripple case remains a landmark battle in the crypto industry, testing the boundaries of securities laws and shaping the regulatory future for digital assets. Investors and stakeholders will closely monitor developments as XRP continues its upward trajectory.
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