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Ripple (XRP) flourished over the weekend amid increased optimism in the cryptocurrency community. Meanwhile, the latest Binance-SEC deal somewhat cooled the regulatory heat in the industry. The exchange enjoyed a crucial win after the court denied the SEC’s motion to file a restraining order and freeze Binance US assets.
As invezz.com news indicate, the Securities and Exchange Commission and Binance agreed to allow the exchange to continue its United States operations (under conditions). Nonetheless, that was a significant update for the digital assets community.
With crypto enthusiasts turning to the regulator as a common enemy, a win for Binance meant a lot for the Ripple holders. The positive cues saw the remittance token soaring over the past day.
The ongoing debates of an upcoming SEC vs. Ripple ruling reinforced XRP’s momentum. Moreover, experts believe the altcoin will explode following a win. Improved social metrics also support the upside narrative for the alt.
XRP price flashes bullishness as Ripple vs. SEC ruling nears
Ripple price recorded impressive price actions since Friday. XRP holders showcased increased optimism as the asset’s lawsuit with the United States securities regulators near a much-anticipated conclusion.
The crypto community has discussed the case’s timeline since the Hinman documents release on 13 June. While many have called SEC for its delay tactics, Binance’s announcement had XRP holders pondering an imminent conclusion of their unending legal battle.
The crypto world expects Ripple to defeat SEC, which will mean a massive win for the entire industry. Moreover, such a development will see XRP skyrocketing to historic highs. In that context, analysts believe the legal battle will end by 1 July.
The Fed revealed plans to introduce the FedNow Service in July 2023. Surprisingly, it onboarded banks related to Ripple for the 1 July launch. Market participants trust SEC-Ripple conclusion should come before FedNow to comply with crypto regulations.
The post Ripple (XRP) flourishes as Binance-SEC agreement offers vital support appeared first on Invezz.
