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You can also read this news on BH NEWS: SEC Classifies XRP as Security in Lawsuit
The U.S. Securities and Exchange Commission (SEC) has moved to categorize digital assets like XRP as securities in its ongoing litigation against Ripple. This announcement follows a notable rise in XRP’s value, surpassing one dollar, which has intensified speculation regarding potential resignations within Ripple’s leadership. Market expectations suggest that XRP may soon reach two dollars.
How Does the SEC View Digital Assets?
SEC Chairman Gary Gensler recently emphasized that “Bitcoin is not a security,” aiming to classify XRP distinctly from Bitcoin, Ether, and stablecoins, branding it instead as a security. Gensler pointed out that the SEC’s focus lies on approximately 10,000 digital assets, excluding Bitcoin, with a total market cap nearing 600 billion dollars.
What Fuels XRP’s Recent Price Surge?
XRP’s potential to hit two dollars stems from speculation that Gensler may step down on January 20, coupled with hopes of a resolution to the lawsuit during Trump’s administration. These prospects are believed to favorably impact XRP’s value.
- Ripple’s CTO reassures shareholders that XRP holders remain protected.
- Legal experts anticipate the possibility of a dismissal or a settlement of 125 million dollars.
- Investor sentiment and supportive policies from Trump are seen as boosts for XRP.
The ongoing legal battle presents a pivotal moment for the regulation and classification of digital assets, shedding light on possible future trajectories for the cryptocurrency market. As XRP’s price climbed 11% in just 24 hours, optimism within the community remains high, with some analysts predicting new all-time highs could be on the horizon.