XRP climbed as high as 93 cents at one point, its highest level since March 2022 and was at 79 cents at the time of writing.
This is the biggest jump in Ripple in more than a year. The surge came after a U.S. judge ruled the sale of XRP tokens on exchanges did not constitute investment contracts.
XRP Ripple Effect On Crypto
Cryptocurrencies across the board rallied along with crypto-related stocks following the ruling that the sale of Ripple’s tokens on exchanges and through algorithms did not violate federal securities laws. Bitcoin (BTC) pushed through $31,000 resistance, rising to $31,700 at press time, its highest level in over a year, according to CoinDesk data.
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