XRP Soars After Ripple-SEC Case Resolution
A federal judge has ordered Ripple to pay $125 million in civil penalties and has imposed an injunction against future violations of securities laws, effectively concluding the long-standing SEC case against the platform. This verdict led to a remarkable surge in XRP, the native token of Ripple, which jumped nearly 20% following the announcement, contributing to widespread market gains.
Market Reaction
Traders had anticipated a settlement throughout July, resulting in heightened interest in XRP, particularly from South Korean markets. XRP's trading volumes skyrocketed to $5.6 billion within the past 24 hours, showcasing the token's rising popularity and investor confidence.
As of 9:30 a.m. Eastern Time, XRP is trading at 60 cents. This legal victory not only boosts Ripple's position but also influences the overall sentiment in the cryptocurrency market.
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