In a historic ruling, XRP has emerged victorious in its lawsuit against the SEC (U.S. Securities and Exchange Commission). The judge’s decision deeming XRP, not a security, has had significant ramifications in the crypto market. In this article, we’ll delve into what happens next after the XRP win and the potential impact it may have on the entire cryptocurrency landscape.
XRP’s Surge and Coinbase Relisting:
Following the favourable ruling, XRP experienced a remarkable surge of over 80% in its price. This surge was further fueled by Coinbase relisting XRP on its platform, providing renewed access to the digital asset for its users. The surge has propelled XRP back to the number four position in market capitalization, overtaking Binance Coin (BNB) and reaching an impressive $42 billion market cap.
Potential Ramifications and Fallout:
The ruling that tokens and coins sold on exchanges are not considered securities has raised interesting questions and may have implications for other cryptocurrencies. Notably, this development could impact the SEC’s lawsuit against Binance, which accused the exchange of selling unregistered securities. While this remains a separate matter, it highlights the potential ripple effects of the XRP win on the crypto market.
The Market’s Response:
The market reacted positively to the ruling, with cryptocurrencies across the board experiencing significant gains. Notable coins like Cardano, Solana, Lido Dao, and Polygon also witnessed substantial price surges, as mentioned in the SEC lawsuit against Binance. This indicates that the market perceives the ruling as favourable for the crypto space as a whole and not just limited to XRP.
What Happens Next:
As the excitement settles, the focus shifts to what comes next in the aftermath of the XRP win. The next few days and the weekend will determine the market’s sustained response. Key factors to observe are the return of retail and institutional investors and the overall market volume. Continuing green candle days and an influx of institutional and retail money could signal the beginning of the next bull run.
Sustainability and Retail Interest:
Sustainability is crucial for the market’s momentum. Observing the behaviour of XRP and other cryptocurrencies over the next few days will provide valuable insights into whether the rally will continue. If retail interest resurfaces, it could serve as the spark that ignites the crypto market’s next growth phase.
Final Thoughts:
The XRP win against the SEC marked a historic day in the crypto world. The ruling has benefited XRP and uplifted the entire market, demonstrating the resiliency and potential of the crypto space. As we eagerly watch the market in the coming days, it remains essential for investors to be cautious and make informed decisions to capitalize on the opportunities presented by this significant event.