Ripple Labs Inc did not breach securities legislation by selling its XRP coin on public exchanges, a US judge ruled on Thursday.
bitcoin was trading around its all-time high after a legal triumph in which the cryptocurrency XRP was declared not to be a security. Ripple Labs Inc did not breach securities legislation by selling its XRP coin on public exchanges, a US judge ruled on Thursday. Although the ruling was limited to a single case, it inspired hope among cryptocurrency investors that more cryptocurrencies may not be classified as securities in the future.
The crypto ecosystem reacted positively to the news, with many stating that the bull market has begun and that new all-time highs for numerous coins are simply a matter of time. Overnight, Bitcoin reached its highest price since June 2022, reaching $31,818 on the Bitstamp exchange. It is up more than 90% for the year and nearly 30% in just one month.Ether, Litecoin, Solana and Cardano Also Rise
Ether, the second-largest cryptocurrency, had its highest session since March, and Ripple, which a US judge decided could be lawfully exchanged on public crypto exchanges, surged 73%. Polygon’s MATIC token increased by 17.82 per cent, while Litecoin, Solana, and Cardano’s tokens saw major gains as well.
