Welcome to the Accelerated Adoption of Crypto Assets 🚀
The 2024 United States elections have significantly boosted the acceptance of crypto assets, drawing attention from both sides of the political spectrum to the more than 50 million voters involved in the digital asset industry.
Ripple’s Crucial Legal Moment 🌊
Ripple Labs has been advocating for clear crypto regulatory guidelines from the US Congress to enhance the country’s competitiveness in global markets following the same path. Through an ongoing lawsuit filed against Ripple, XRP holders have gained substantial clarity. Last year, Judge Analisa Torres ruled that XRP sales on crypto exchanges do not fall under investment contracts and are not subject to securities laws.
The Ripple community anticipates a final resolution before the end of the year, as the SEC proposed a settlement of approximately $102 million for breaching securities laws in XRP sales to institutional investors.
The Emergence of Rising Whales ⛓️
Recent on-chain transactions have revealed whale investors moving XRP from various exchanges to undisclosed addresses, with over 140 million XRP units worth more than $84 million being purchased by whales according to market data by Santiment.
XRP’s Potential Rally Signals 📈
XRP’s price has experienced a consistent upward trajectory over the past three weeks. This large-cap altcoin, with a fully diluted valuation of around $60 billion and a daily traded volume of approximately $2 billion, has surged over 40 percent to reach about $0.605. If XRP maintains closures above 60 cents in the coming weeks, it could easily hit the psychological target of $1 in the near future.
Don’t forget to check out: Budget 2024: Angel-Tax Abolished For All Tax Classes; Crypto Tax Remains Unchanged By Nirmala Sitharaman
Hot Take: Stay Updated on Crypto Developments 🚨
Keep yourself informed about the dynamic world of crypto assets and regulatory changes to make informed decisions about your investments. By staying abreast of the latest developments, you can navigate the crypto landscape with confidence and adapt to the evolving market conditions for a successful investment journey. Embrace the opportunities presented by the crypto space and be part of the transformative wave sweeping the financial industry.
By
By
By
By
By
By