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.
At the beginning of the week, Solana’s (SOL) price slightly declined but stayed close to $144 following a 9% rise over the previous week.
On Monday, investor interest surged for a blockchain-based game and DeFi protocol as its token price skyrocketed nearly 37%.
A prominent cryptocurrency analyst believes that the Ethereum-Bitcoin (ETH/BTC) trading pair is nearing a cycle bottom.
Tether’s USDT, the largest stablecoin, continues to strengthen its market position, with its market capitalization nearing $120 billion for the first time.