XRP Financial News

Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a US judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring. XRP was up 75% by late afternoon on Thursday, according to Refinitiv Eikon data. The ruling by US District Judge Analisa Torres was the first win for a cryptocurrency company in a case brought by the US Securities and Exchange Commission — though it did also give the SEC a partial victory.

Bitcoin (BTC) dominance has taken a tumble in the wake of Ripple’s partial victory against the United States Securities and Exchange Commission, with a surge in altcoin prices briefly causing BTC dominance to fall under the 50% mark. 

Ripple Labs’ split-decision victory against the United States securities regulator is being seen as a significant blow to the regulator’s “war on crypto,” however, crypto lawyers warn it isn't a definitive victory for the industry or the firm y

Federal Reserve was close to the end of its rate hike cycle due to easing inflation. The dollar index, which measures the U.S. currency against six major rivals, stood at 99.71 in early Asian hours, its lowest since April 2022.

Ripple (XRP) has now become the fourth largest cryptocurrency by market capitalization after Ripple Labs’ partial victory over the Securities and Exchange Commission (SEC) on July 13. 

Despite concerns reports that one of the largest SHIB holding wallet moved nearly $30 million to eight different wallets on Thursday, which could signal that the wallet’s owner intends to dump these tokens onto the market, Shiba Inu (SHIB) pumped 6.5% on the day.

Following a victory in federal court against the United States Securities and Exchange Commission (SEC), Ripple Labs may see the XRP token returning to cryptocurrency exchanges.

Judge Analisa Torres issued a verdict on Thursday saying that US fintech company Ripple Labs did not break federal securities law via its sales of XRP on public exchanges, a huge victory for the firm that sent the price of XRP shooting higher.

Cardano (ADA), the cryptocurrency that powers Cardano’s high-performance smart contract-enabled layer-1 blockchain protocol, just broke above the key $0.31 resistance level and is up close to 10% on Thursday.

XRP, the cryptocurrency that powers the XRP Ledger launched by US fintech company Ripple back in 2012, just saw a huge price pump.

By Jody Godoy

Investing.com — XRP was trading at $0.52483 by 11:28 (15:28 GMT) on the Investing.com Index on Thursday, up 11.44% on the day. It was the largest one-day percentage gain since March 21.

Ripple Labs scored a victory in the United States District Court in the Southern District of New York on July 13 as Judge Analisa Torres ruled in favor of the company in a case brought forth by the Securities and Exchange Commission dating back to 2020.

The XRP price has remained flat in the past 24 hours, with its current level of $0.47323 representing a small 1% dip in the last seven days.

cryptocurrency market was trading higher on Tuesday, with Bitcoin (BTC) rising 1.23% to $30,476, while Ethereum was above the $1,850 level. Meanwhile, BTC volume in the last 24 hours stood at approximately $14.59 billion, rising 66.55% in the last 24 hours. «Bitcoin continues to consolidate above $30,000 with a quick move towards $31,000 earlier today followed by a quick pullback. BTC is likely to make an attempt to reclaim the level again. Breaching key resistance at $32,400 will be the eventual target before a sustained rally is possible,» Vikram Subburaj, CEO of Giottus Crypto Platform, said. «Ether is currently facing resistance at the 20-day exponential moving average ($1,871) while the bulls are attempting to defend the 50-day simple moving average ($1,841). This struggle between buyers and sellers indicates a lack of clear momentum in the market,» said the ZebPay Trade desk.

Bitcoin (BTC) bulls are again having a go at the overhead resistance of $31,000. The bullish sentiment may get a boost from the United States inflation report, which showed signs of slowing down. Economists were expecting the year-on-year consumer price index to rise 3.1% but the June print came in at 3%.

Ripple may be holding its breath a bit longer after a United States District Judge refused to rule on if the secondary sale of LBRY Credits (LBC) constitutes a security.

Bitcoin has been struggling to rise and sustain above the $31,000 level for the past few days, but Standard Chartered has painted a bullish picture for this year and the next. In a report, the bank said that Bitcoin (BTC) could reach $50,000 this year and stretch the rally to $120,000 by the end of next year.

Antony Welfare, Ripple's CBDC adviser, recently participated in a fintech conference in Central and Eastern Europe (CEE), where he presented two groundbreaking use cases. One of these is the tokenization of real estate, a concept that is rapidly gaining momentum as a potential future for the real estate industry, as he claimed

According to a recent analysis by Messari, the XRP Ledger (XRPL) saw growth and fall in the second quarter of 2023. Despite a 10.7% quarter-over-quarter (QoQ) decline in market cap from $27.8 billion to $24.8 billion, the XRPL, a ten-year-old platform renowned for its quick, energy-efficient, cross-currency, and cross-border payments, saw its native token, XRP, maintain its position as the sixth-largest cryptocurrency by market capitalization.

The XRP price has dipped to $0.468321this morning, representing a 3% drop in the past week and a 5% loss in the last 30 days.