“Ripple’s CEO and Chairman’s acquittal not only celebrates justice but also triggers a remarkable wave of enthusiasm across the crypto market, as Bitcoin and Ethereum prices skyrocket, proving the resilience and potential of digital currencies.”
After almost three years of regulatory scrutiny, Ripple’s CEO and Executive Chairman have been acquitted of all allegations by the U.S. SEC. This decision has caused a surge in the crypto market, with Bitcoin and Ethereum experiencing significant price increases. The market is now eagerly watching to see how this win for Ripple will impact the ongoing lawsuit and future regulations.
Ripple, the cryptocurrency company, has secured a major victory as its CEO Brad Garlinghouse and Executive Chairman Chris Larsen have been cleared of all allegations by the U.S. SEC. After facing intense regulatory scrutiny for almost three years, this decision marks a turning point in the ongoing disagreement between the crypto sector and regulatory authorities. The announcement of the acquittal has sparked a surge in the crypto market, with investors closely monitoring the developments surrounding the lawsuit and its potential impact on future regulations.
The U.S. SEC’s decision to drop charges against Ripple’s CEO and Executive Chairman is seen as a significant win for the company. The allegations against the duo claimed that the distribution of XRP should have been registered as a security. This move by the SEC has provided a boost to the crypto market, with Bitcoin and Ethereum witnessing price increases.
Bitcoin, the leading cryptocurrency, has seen a 5.01% increase in the last 24 hours, trading at $29,806 at the time of writing. Ethereum has also surged by 4.87% during the same period, with a trading volume increase of 35.62%. This positive market reaction is attributed to the news of Ripple’s acquittal, which has broken the bearish trend that had been dominating the market for weeks.
Currently, the Ethereum price has surpassed the $1615 resistance level and is expected to reach the $1655 level. Breaking this level will likely push the price to test the $1735 mark. However, if bearish sentiment prevails and prices drop below the $1571 support level, a further decline to the $1529 level is anticipated.
Ripple’s recent legal victory, with its CEO and Executive Chairman being acquitted of all allegations by the U.S. SEC, has had a significant impact on the crypto market. The decision has sparked a surge in prices, particularly for Bitcoin and Ethereum. Investors are now closely monitoring the ongoing lawsuit and how it may shape future regulations in the crypto sector.