Following Ripple Labs’ partial victory over the US Securities and Exchange Commission (SEC) on 13 July, Ripple (XRO) has ascended to become the fourth largest cryptocurrency by market capitalisation. The District Court for the Southern District of New York ruled that the offer and sale of XRP on digital asset exchanges did not constitute offers and sales of investment contracts. The ruling resulted in an immediate increase of Ripple’s market capitalisation by $21.2 billion, reaching a yearly high of $46.1 billion and surpassing Circle’s USD Coin and Binance’s BNB token. Ripple’s price also skyrocketed, rising by 98% and causing the Uphold exchange to briefly crash due to a sudden increase in volume.
Source: https://cointelegraph.com
