Following a landmark court ruling, XRP now surpasses BNB to become the fourth largest digital asset by market capitalization.

# name price 24hours% market capitalization 24H Vol
1 Bitcoin $31,313.35 +2.97% $608,382,242,056 $25,742,885,697
2 ethereum $2,006.04 +7.07% $241,135,375,943 $12,574,214,439
3 tether $1.00042 +0.06% $83,469,496,743 $47,877,965,097
Four XRP $0.78891 +67.5% $41,452,503,749 $12,916,795,997
Five BNB $259.553 +6.16% $40,451,166,142 $896,182,353

XRP’s market cap jumped 67% to $41.45 billion, in contrast to BNB’s 6.16% jump to $40.45 billion. Earlier this year, BNB ($44 billion) was worth twice as much as XRP ($17.4 billion).

The surge came after a New York judge ruled that the sale of XRP was not a secondary market security such as a cryptocurrency exchange. However, the order also determined that institutional sales of XRP could indeed be considered securities, and the move would: discussion among legal and financial professionals.

Commenting on the new ruling, Paradigm policy director and former SEC senior counsel Justin Slaughter said: commented,

“It’s a big loss for the SEC’s approach to cryptocurrencies, which is solely focused on enforcement, and it significantly increases the chances of a cryptocurrency bill being passed this year.”

Meanwhile, Magic Internet Money podcast host and Bitcoin advocate Brad Mills said: was suggested He argued that the ruling reduced the transparency of discussions about cryptocurrency securities.

“Despite the fact that there was no explicit statement that XRP or any other token was not a security, the ‘crypto industry’ has widely interpreted this as a triumph for tokens, so there is now even more lack of clarity. It seems to me that

Following the judgment derivatives According to CoinGlass data, the market has seen a 90% increase in open interest in XRP futures, with outstanding contracts at 1.33 billion XRP.

Regulatory pressure on Binance has fueled sell-side pressure on BNB, impacting its performance this year. BNB is up 8.7% over the past 12 months, while BTC is up a staggering 51% over the same period. Meanwhile, XRP experienced a 134% rise.

Coinbase announced immediately relisted XRP was previously delisted due to an SEC lawsuit, making it available to more traders in the US and the rest of the world. Coinbase’s official Twitter account posted: announcement.

W.
W is ripple
Industry W.
builder W.
W is a clear rulebook.
W to update the system.

Ah, XRP is now tradable.

The lasting impact of these market changes and their far-reaching implications for the cryptocurrency ecosystem will only become apparent in time as the industry considers the potential precedent set by the XRP ruling.

Post-XRP overtakes BNB in ​​market capitalization, first published on CryptoSlate, as experts debate a judge’s ruling on a securities sale.

By Jules

Leave a Reply