Hours After A Judge Ruled XRP Not A Security, This Payment Token Leaves Bitcoin, Ethereum Trailing In Dust With 51% Gains
Portfolio Pulse from Mehab Qureshi
Stellar (XLM) and Ripple's XRP experienced significant surges of 51% and 60% respectively, outperforming Bitcoin and Ethereum. This follows a court ruling that determined XRP to be an investment contract when sold to institutional investors, which has been perceived positively by investors. Major US exchanges including Coinbase, Kraken, iTrustCapital, and possibly Gemini, are relisting XRP on their trading platforms.
July 14, 2023 | 4:06 am
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NEGATIVE IMPACT
Bitcoin underperformed compared to Stellar and Ripple's XRP following a court ruling.
The court ruling favoring XRP has led to a surge in XRP and XLM, outperforming Bitcoin. This could potentially divert investor interest away from Bitcoin in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Ethereum underperformed compared to Stellar and Ripple's XRP following a court ruling.
The court ruling favoring XRP has led to a surge in XRP and XLM, outperforming Ethereum. This could potentially divert investor interest away from Ethereum in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Stellar experienced a significant surge of 51% following a court ruling favoring Ripple's XRP.
The court ruling favoring XRP has led to a surge in XRP and XLM. Given the similar use cases and the fact that Stellar was founded by one of the co-founders of Ripple, the ruling could be perceived as positive for Stellar as well.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100