Now that Ripple has prevailed in court against the SEC, Binance US has been more transparent about XRP’s technology and rising capability, which has piqued cryptocurrency’s attention once more. The market has become quite speculative due largely to the discussion over the likely beginning of an XRP ETF right now.
Recently, Binance US changed its XRP summary to incorporate more technical details about its background. In 2012, David Schwartz, Jed McCaleb, and Arthur Britto created the XRP Ledger Consensus Protocol. Three of them exist. With up to 1,500 transactions per second, the XRP record is more flexible and quick than the proof-of-work mechanism for Bitcoin.
This material was made public following the United States’s loss in a significant case before the Securities and Exchange Commission (SEC). Since the court decided that Ripple’s XRP sales to private investors were lawful under federal securities rules, the market’s attitude has shifted significantly.
Binance US Highlights XRP Price Surge And ETF Speculation Post-Court Victory
A major legal victory for XRP, a court decided on August 7 in favor of Ripple on its regulatory position. The action raised XRP’s price by more than thirty percent, bringing it to levels not observed since April. XRP is usually seen as positive, even if some people oppose it.
Recent statistics show that more people are choosing to stick to their XRP holdings in case the price rises, therefore reducing the availability of XRP on exchanges. Although some larger investors have reduced their investments, retail accumulation especially among smaller investors has grown.
During this whole period, more discussion has been going on about creating an XRP exchange-traded fund. These discussions have been sparked by Bitnomial Exchange’s latest XRP/USD future contract announcement. These agreements are supposed to demonstrate the value of 100,000 XRP.
These futures contracts, which will be based on margin and directly settled, are seen by some as making the market considerably more liquid and easier to enter.
The end of Ripple’s legal fight has enhanced XRP’s standing and might help authorities approve an ETF more easily. Changing rules makes an XRP ETF more feasible, which piques people’s curiosity about speculative behavior in the cryptocurrency market.
