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. Access COINTURK FINANCE to get the latest financial and business news.
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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