XRP, the native token of the Ripple protocol, is up nearly 4% over the past 24 hours, trading at $0.528 at the time of writing.
This is despite XRP slightly backtracking from a recent high of $0.545 set last night, data from CoinGecko shows.
This makes the crypto industry’s fifth-largest asset by market cap the best-performing asset among the top 50 cryptocurrencies, with the likes of Bitcoin (BTC) and Ethereum (ETH) posting daily losses of 0.5% and 1.3%, respectively.
XRP is also up 6.2% over the week, with the latest uptick in price spurred by the news of a federal judge declining the U.S. Securities and Exchange Commission’s (SEC) bid to appeal her prior decision regarding Ripple Labs.
In her ruling on July 13, U.S. District Judge Analisa Torres in Manhattan concluded that the sale of the XRP digital token on public exchanges did not constitute an illegally unregistered securities offering as buyers did not have a reasonable expectation of profit based on Ripple's actions, according to the judge's decision.
The United States Securities and Exchange Commission (SEC) failed to convince a federal judge that its recent, high-profile courtroom loss to crypto firm Ripple Labs should be overturned, according to a court ruling issued Tuesday.
U.S. District Court judge Analisa Torres—who ruled in July that Ripple’s sale of a cryptocurrency token directly to consumers did not constitute an illegally unregistered securities offering—wrote late Tuesday that the SEC had failed to show in its appeal that the de...
Adding to the positive momentum, Ripple announced on Wednesday that its Singapore subsidiary has secured a full payments license to operate in the city-state.
The license, granted by the Monetary Authority of Singapore (MAS), will allow Ripple Markets APAC to continue providing regulated digital payment token services in Singapore.
The company added that it will continue to prioritize the Asia Pacific region for the adoption of its crypto-enabled payment solutions.
It’s official: Ripple is now fully licensed to provide digital payment token services in Singapore by @MAS_sg! Ripple is committed to delivering real-world crypto solutions for businesses in APAC.
Monday marked the end of a painful quarter for Ethereum, as the network’s native asset’s so-called burn rate fizzled amid one of its worst performances in recent memory.
The metric, which tracks the rate of Ethereum removed from circulation, recently hit its lowest level since August 2021, a nagging concern among investors that’s “weighed on Ethereum’s market performance,” according to the crypto market maker Wintermute.
Last week, around 53 ETH was burned per day, the firm said. Meanwhile, ETH’...
Solana meme coin Act I: The AI Prophecy (ACT) crashed 55% in less than an hour on Tuesday, as millions of dollars worth of positions were liquidated on Binance. This has led to a campaign across social media to stop using the popular centralized exchange, spurred on by the hashtag #BoycottBinance.
Traders believed these liquidations came following the exchange changing its leverage and margin tiers. Put simply, Binance increased the amount of collateral traders needed to keep leveraged positions...
Bitcoin could soon find a place on state balance sheets, with Alabama and Minnesota both pressing ahead with legislative frameworks for state Bitcoin reserves.
In Minnesota, House File 2946, also called the Minnesota Bitcoin Act, introduced by Rep. B. Olson (R-MN) on Tuesday, would allow the state to invest in Bitcoin directly. Its Senate counterpart, SF 2661, was introduced earlier in March.
The identical bills seek to authorize the State Board of Investment to allocate public funds into Bitcoi...