The industry views FTX’s $1.2 billion payback as a major liquidity event that might raise bitcoin values.<\/p>\n\n\n\n
Ahead of US President-elect Donald Trump’s inauguration on January 20, which is anticipated to provide greater regulatory clarity to the sector, cryptocurrency investors are feeling quite optimistic.<\/p>\n\n\n\n
Unfazed by the US Securities and Exchange Commission’s most recent court challenge, the XRP $3.16 token surged to its highest level since 2018 on the hope of more industry-friendly laws.<\/p>\n\n\n\n
The fact that the bankrupt FTX exchange is getting ready to return more than $1.2 billion to its subscribers following Trump’s inauguration\u2014a major liquidity event for the cryptocurrency market\u2014adds to the optimistic picture.<\/p>\n\n\n\n
As confidence surpasses worries about an SEC appeal, XRP reaches a seven-year high.<\/strong><\/p>\n\n\n\n As anticipation about new crypto laws outweighed worries about the SEC’s most recent legal appeal, XRP reached its highest level since January 2018.<\/p>\n\n\n\n Before retracing to trade at $3.09 at 8:45 am UTC on January 16, the price of XRP $3.16 reached a seven-year high of $3.20 on January 15. According to CoinMarketCap data, XRP has increased by more than 32% on the weekly chart.<\/p>\n\n\n\n The increase coincided with the SEC’s January 15 appeal of a July 2023 decision by District Judge Analisa Torres that said sales of XRP to regular investors did not qualify as unregistered securities. The SEC wants those retail sales to be categorized as such.<\/p>\n\n\n\n According to Ryan Lee, chief analyst at Bitget Research, the market has favored the partial legal victory obtained by Ripple Labs in the lengthy dispute, even in spite of the SEC’s appeal.<\/p>\n\n\n\n The primary forces behind XRP’s price increase are these partial court rulings and investor hope for greater regulatory certainty in the cryptocurrency space.<\/p>\n","protected":false},"excerpt":{"rendered":" The industry views FTX’s $1.2 billion payback as a major liquidity event that might raise bitcoin values. Ahead of US President-elect Donald Trump’s inauguration on January 20, which is anticipated to provide greater regulatory clarity to the sector, cryptocurrency investors are feeling quite optimistic. Unfazed by the US Securities and Exchange Commission’s most recent court…<\/p>\n","protected":false},"author":2,"featured_media":1333,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,49,22],"tags":[],"class_list":["post-1332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-investment","category-news"],"yoast_head":"\n