Date: Wed, July 31, 2024, 02:51 AM GMT
Today in the cryptocurrency market, the price of XRP is on a bullish track, taking it to the top spot in the highest gainers list. In the past 24 hours, the price of XRP has been surged by 9.24%, trading at $0.6536 with a market cap of $36 billion. The 24HR trading volume also soars by 120.80% to $2,631,956,22.
As reported by BlockBeats, this recent spike follows an encouraging update from Ripple CEO Brad Garlinghouse. On July 21, Garlinghouse mentioned in an interview with Bloomberg that Ripple’s long-standing legal battle with the U.S. Securities and Exchange Commission (SEC) is nearing a resolution.
Garlinghouse highlighted a significant federal court ruling last Thursday, stating that XRP is “not a security.” This decision allows Ripple more freedom to explore various business opportunities. Garlinghouse emphasized that this ruling removes the uncertainty around promoting Ripple’s technology and its multiple use cases, including cross-border payments and central bank digital currencies (CBDCs). He noted that 95% of Ripple’s customers are located outside the U.S., underscoring the global reach of their technology.
With this legal clarity, Ripple is poised to further its mission and expand its services, contributing to the positive sentiment around XRP and its recent price surge.