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24 Hrs Crypto Update, 13 July: XRP rallies after court ruling

Key Takeaways
  • ETH, XRP, SOL, ADA, and XLM witnessed a surprising surge in the last 24 hours, suggesting a promising upward trend for these popular cryptocurrencies
  • The court's decision rejects labeling XRP trades as 'securities' sales, setting a significant precedent. While the SEC may appeal, this sparked a major price rally in the sector
14-Jul-2023 By: Lokesh Gupta
24 Hrs Crypto Update
BENCHMARK
Indices LTP Change (%)
BITCOIN $31412 3.60%
ETHEREUM $2013 7.65 %
CRYPTO STATS(24H) 
Indices VALUE Change (%)
MARKET CAP $1.31 T 7.00%
TRADING VOLUME $92.00 B 134.06%
TOP 5 GAINERS
Indices LTP Change (%)
Torum $0.016 6198.71%
Kepple[OLD] $0.030 556.98%
Internxt $0.12 99.90%
FutureCoin $0.16 95.36%
Kampay 0.0030 77.60%
TOP 5 LOSERS
Indices LTP Change (%)
Unitrade $0.048 77.18%
Beethoven X $0.022 52.83%
Hexctor Network $1.51 46.24%
Zenith Chain $0.0015 34.67%
PalGold $0.00016 26.76%

Crypto market skyrockets with massive gains in the past day.

The past 24 hours have witnessed significant surges in the crypto market. Bitcoin and other cryptocurrencies experienced a remarkable trading session on Friday following Ripple's favorable outcome against the US SEC in court. Moreover, the optimistic sentiment surrounding global digital assets was further fueled by positive US inflation data, leading to substantial gains in the token's value.

Major Events Around the World

Today has been a momentous day for the XRP community and the wider cryptocurrency market. The Southern District Court of New York has made a historic decision, stating that the programmatic sales of Ripple's XRP and other distributions do not qualify as the sale of investment contracts. This ruling has acted as a significant catalyst, propelling the XRP Price to new heights. In just a matter of hours following the court's decision, the XRP price has surged by an impressive 60% over the past 24 hours, currently standing at $0.75. With a market capitalization of $40 billion, XRP has now claimed the position of the fifth largest cryptocurrency, surpassing USDC Coin.

The cryptocurrency ecosystem is currently experiencing a significant surge in positive momentum, thanks to the recent victory achieved by Ripple Labs and its digital currency, XRP, against the United States Securities and Exchange Commission (SEC). Adding to the excitement generated by Judge Analisa Torres' declaration that XRP does not qualify as an investment contract, Coinbase exchange has made an exciting announcement: it will soon reintroduce XRP for trading on its platform.

In a significant development for the cryptocurrency ecosystem, the United States Securities and Exchange Commission (SEC) has recognized Bitwise's application for a spot Bitcoin Exchange Traded Fund (ETF) product. This acknowledgment by the SEC holds immense importance for the cryptocurrency industry as it brings us closer to the possibility of a regulated Bitcoin ETF becoming a reality.

COIN GABBAR Views: Will the rally in the crypto market continue after the positive outcomes for Bitcoin, other cryptocurrencies, and Ripple's legal victory? Stay tuned for the latest news at www.coingabbar.com

Also read: Musk Launches xAI to Understand Reality & Decode Universe with AI

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

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