TL;DR
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Bitcoin and XRP continue to trade within their recent ranges despite recent events.
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The US SEC is appealing the XRP ruling after the court previously declared that XRP is not a security.
BTC Stays Above $29k While XRP Defends The $0.6 Level
Bitcoin and XRP were unfazed despite the United States Securities and Exchange Commission (SEC) revealing on Wednesday that it would be appealing the recent XRP ruling.
Bitcoin, the world’s leading cryptocurrency by market cap, continues to trade above the $29,500 level. BTC has lost less than 1% of its value in the last 24 hours and is now trading at $29,514 per coin.
Despite the recent market conditions, more investors are hodling their bitcoins. Data obtained from Glassnodes indicate that the number of addresses holding more than 0.1 BTC reached an all-time high of 4,436,539.
📈 #Bitcoin $BTC Number of Addresses Holding 0.1+ Coins just reached an ATH of 4,436,539
— glassnode alerts (@glassnodealerts) August 10, 2023
Previous ATH of 4,436,305 was observed on 08 August 2023
View metric:https://t.co/hZY8dBLpzX pic.twitter.com/oun8TMKUXo
XRP, the native coin of the Ripple ecosystem, is down by 1% over the last 24 hours. At press time, the price of XRP stands at $0.63 per coin.
The performance comes after the SEC said it would appeal XRP’s ruling. XRP was ruled as not a security last month, a move that saw the coin rally by more than 70%.
The broader crypto market is looking bearish at the moment, with the total market cap currently standing at $1.18 trillion, down by less than 1% today.