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Bitcoin And XRP Remain Unfazed Despite SEC Appealing XRP Ruling

Twitter icon  •  Published il y a 8 mois  •  Hassan Maishera

Bitcoin and XRP continue to defend their prices despite the SEC revealing that it would appeal XRP’s recent ruling.

TL;DR

  • Bitcoin and XRP continue to trade within their recent ranges despite recent events.

  • 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.

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.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.