According to the latest news in the media, a milestone development has occurred for XRP. In the Ripple case, a US judge ruled that the company’s XRP sales do not constitute investment contracts. Following the announcement of this news, XRP started to rise and reached the price level of $0.6. The cryptocurrency market also experienced a rapid surge after the news. Bitcoin (BTC), which briefly exceeded the $31,000 levels, started trading at around $30,900.
Boost Effect in the Cryptocurrency Market
The historical decision in the Ripple case, which can be considered a turning point for XRP, led to a striking surge in the cryptocurrency market. With the US judge ruling that the company’s XRP sales do not constitute investment contracts, XRP quickly started to rise and achieved a nearly 30% increase in value, surpassing the $0.6 price level. With this surge, XRP reached its highest price level in the past year.
The cryptocurrency market also experienced a surge with this milestone decision regarding XRP. Bitcoin (BTC), rapidly changing its direction upwards, surpassed $30,900.
Will Bitcoin (BTC) Break the Critical Resistance Level?
The historical decision in the Ripple case also caused a striking surge in the cryptocurrency market. The leading cryptocurrency Bitcoin (BTC), which has been testing the $31,000 price levels for weeks, surpassed $30,900 and briefly managed to break the $31,000 resistance level.
According to CoinMarketCap (CMC) data, the total market capitalization of the cryptocurrency ecosystem exceeded $1.22 trillion after the recorded surges within hours. With the boost effect in the cryptocurrency market, Ethereum (ETH) also gained a strong upward momentum and started trading at around $1,960 with a nearly 4.5% increase in value.
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