Bitcoin, Ethereum, Dogecoin Surge After Judge Rules XRP Not A Security: Analyst Says Ripple Win 10x More Bullish Than Any ETF Filings
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies surged after a court ruling partially favored Ripple Inc, stating that the XRP token is not a security in relation to programmatic sales on digital asset exchanges. However, the institutional sale of XRP can be categorized as a security when sold to institutional investors. Following the ruling, XRP's value increased by 96% to $0.93. Analysts believe that this victory for XRP is more bullish than any ETF filings. The global crypto market capitalization increased by 6.52% to $1.26 trillion.
July 14, 2023 | 2:37 am
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POSITIVE IMPACT
Bitcoin's price increased by 3.48% to $31,411 following the court ruling in favor of Ripple.
The court ruling in favor of Ripple has a positive impact on the overall cryptocurrency market, including Bitcoin. As a result, Bitcoin's price increased.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Dogecoin's price increased by 8.89% to $0.070 following the court ruling in favor of Ripple.
The court ruling in favor of Ripple has a positive impact on the overall cryptocurrency market, including Dogecoin. As a result, Dogecoin's price increased.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Ethereum's price increased by 7.61% to $2013 following the court ruling in favor of Ripple.
The court ruling in favor of Ripple has a positive impact on the overall cryptocurrency market, including Ethereum. As a result, Ethereum's price increased.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75