The cryptocurrency market is having one of its best days in a while, and Ripple’s XRP is reaping the benefits.
XRP, the third largest crypto by market cap, is up by more than 11 percent today, and now trading for almost $0.24 per coin.
This marks the first time XRP has been trading this high in about a month. The cryptocurrency has been on a downward trend for several months, briefly touching the $.30 per coin mark a few times since August 2019, but falling as low as $0.19 in late December.
And while $0.24 per coin might not yet make XRP holders jump for joy, it’s a start. And recent comments from the U.S. Commodities Futures Trading Commission (CFTC) might also help.
“Part of the issue is our jurisdiction we share with the SEC [Securities and Exchange Commission],” he stated. “If it is a security, it falls under their jurisdiction. If it’s a commodity, it falls under ours.”
And if it’s not a security, that would also mean Ripple escapes a costly lawsuit, which would spell good news for XRP.