XRP Price Skyrockets Minutes After Ripple vs. SEC Ruling
07.08.2024 23:47 1 min. read Alexander Stefanov
After four long years of legal battles, the Ripple vs. SEC case about XRP sales being securities reached the final stage.
District Judge Analisa Torres from the Southern District of New York issued the fine after determining that Ripple’s 1,278 institutional sale transactions breached securities regulations, resulting in the penalty.
This breaking news boosted investor confidence, which led to a significant surge in XRP’s price.
Less than 10 minutes after this announcement, XRP surged by more than 25%, reaching a weekly high of $0.6276.
Trading volume also experienced a major surge, jumping around 50% to $2.731 billion in the past 24 hours. With a current RSI of 69,29, XRP is nearing the “overbought” zone, which may soon lead to a correction.
Nevertheless, this milestone is great news for the crypto community, especially XRP investors, as it marks an end to a long saga, that could propel the industry to new heights.
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