XRP (XRP) Surges to Four-Month Peak Amid Imminent Ripple-SEC Agreement Speculation
- WBOYOriginal
- 2024-08-01 03:19:09462browse
On July 31, the cryptocurrency market encountered turbulence, with global market valuations reportedly dropping beneath $2.5 trillion, CoinMarketCap reports.
output: XRP Surged Today, But Why?
As the cryptocurrency market encountered turbulence on July 31, with global market valuations reportedly dipping below $2.5 trillion (CoinMarketCap), Bitcoin (BTC) and Ethereum (ETH) recorded slight declines. However, XRP took a surprising turn.
Ripple's native token soared to a four-month peak of $0.6561 earlier today, according to data from CoinMarketCap. As hours passed, XRP settled around $0.6534, indicating a 5.93% rise over the last 24 hours.
This uptick pushed XRP's market cap to $36.57 billion, while its trading volume surged by 28.84% to $2.43 billion.
Experts now speculate on an impending agreement between Ripple and the SEC, following XRP's recent market performance. Here's a closer look at the unfolding events and expert predictions.
Fresh Updates on the Ripple-SEC Case, Impacting XRP Price
XRP's recent uptick can be largely attributed to increasing speculation regarding the approaching conclusion of the prolonged legal battle between Ripple and the US Securities and Exchange Commission (SEC). This case, spanning over three and a half years, has significantly impacted the market. However, some experts now hint at a potential resolution on the horizon.
For instance, on July 31, American attorney Fred Rispoli highlighted a potential agreement between the entities, suggesting a significant development. Meanwhile, legal counsel Jeremy Hogan speculated on the possibility of the resolution being unveiled before the summer concludes.
Furthermore, XRP's recent climb ties interestingly to the SEC's sudden amendment in its case against Binance and select crypto
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