• The New York court has dealt a heavy blow to the Securities and Exchange Commission.

  • The court ruled that XRP is not a financial security, pushing up the price of the cryptocurrency.

  • AltSignals’ token sale gained momentum, with 52% of Stage 2 tokens sold.

Cryptocurrencies received another piece of good news on Thursday when a judge ruled in the SEC v. Ripple case. As a result, the XRP token surged more than 70% and Bitcoin neared its year-to-date high.Investors will also allocate funds for the token sale, which in the second phase will alternative signal gaining traction.

SEC vs Ripple case

A major concern among investors was U.S. regulation. As you may recall, the SEC made several allegations in its massive lawsuit against Ripple Labs and its executives. The allegation was that Ripple had violated the Capital Raising Act and that the XRP coin was a token.

On Thursday, the judge in charge of the case ruled in favor of Ripple. She ruled that Ripple Labs violated some laws and that XRP is not a financial collateral. This was a major blow to the Securities and Exchange Commission (SEC), which has been very belligerent lately.

The ruling could have a significant impact on how the SEC regulates digital currencies. Instead of a full-scale lawsuit, the SEC could now pressure lawmakers to develop industry-specific regulations.

Another implication is that financial services firms may incorporate Ripple into their ETF proposals. This is notable as XRP is one of the world’s largest cryptocurrencies with a market capitalization of over $43 billion.

Decline in US inflation

As another important catalyst for cryptocurrencies, alternative signal, That means US inflation is falling. Headline consumer inflation fell to 3%, the lowest since March 2021, according to data released by the Bureau of Labor Statistics.

If this trend continues, it means consumer inflation will be closer to the Fed’s 2.0% target in the coming months. Inflation could fall below 1% in 2024.

Lower US inflation is good for cryptocurrencies as it affects the Federal Reserve. The Fed has been raising rates rapidly over the past few months. So the rate hike cycle may be coming to an end. Cryptocurrencies tend to perform well in these market environments.

AltSignals Token Sale Continues

These two events could lead to a strong rally in the cryptocurrency market. Ripple’s XRP surged more than 70% on Thursday while Stellar surged more than 40%. At the same time, more investors have allocated funds to AltSignals, which has now raised over $1.17 million in the second phase of its token sale.

About 52.3% of all tokens have been sold at this stage, and the developers plan to increase the price by 12.05% in the next stage.

AltSignals is a company that wants to use artificial intelligence to provide accurate forecasts in the cryptocurrency, futures and forex markets. The ecosystem will be powered by ASI tokens.

Unlike many other token sales, AltSignals is already a profitable company with thousands of customers from all over the world. As you can see, that platform has excellent user reviews. here. Therefore, developers want to use AI to improve performance. You can buy AltSignals tokens here.

By Jules

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