Major cryptocurrencies are registering steep losses as a perfect storm led by worsening inflation levels, SEC’s hawkish stance and struggling equities has
The global crypto market cap plummeted by 2% over the past day, with even Bitcoin showing strong volatility as it fell to the $28,600 price level.
XRP saw a remarkable, bullish surge after it was granted a non-security status in Ripple’s watershed victory against the SEC. District Judge Analisa Torres ruled that the programmatic and individual sales of XRP tokens did not meet the Howey criteria and thus did not violate the Securities Act. Last week, the SEC requested an interlocutory appeal against Torres’ ruling and asked for a stay on all court proceedings. In response,to any such appeal, stating that the SEC has no substantial ground for such a request.
In response to this news, equities like S&P 500 and NASDAQ-100 turned red, which led to further selling pressure on the crypto market and altcoins like XRP. The platform is offering a suite of powerful products that will help its users navigate the complexities of the market.
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