Ripple CTO’s Challenge to SEC Spurs Debate and Forecast
Key Points:
• XRP gained 3.23% on Monday, closing the session at $0.6480.
• MicroStrategy fundraising news contributed to broad-based crypto market gains.
• On Tuesday, SEC v Ripple and Coinbase case-related news and BTC-spot ETF market flows need consideration.
The Monday Overview
On Monday, XRP gained 3.23%. Reversing a 2.68% loss from Sunday, XRP ended the session at $0.6480. Significantly, XRP revisited the $0.66 handle for the first time since December 11, 2023.
BTC-Spot ETF Market Fuels BTC and Broad-Based Crypto Rally
BTC surged 8.02% on Monday. MicroStrategy ( MSTR ) plans to acquire more bitcoin fueled the BTC and broader crypto market rally.
On Monday, news of MicroStrategy planning to raise $600 million through a private offering drove buyer demand for BTC and the broader market. However, XRP trailed the broader crypto market. On Monday, the total crypto market cap increased by 5.90% ($135.984 billion) to $2,441 billion.
While XRP enjoyed a positive session, uncertainty surrounding the outcome of the SEC v Ripple case remained a headwind.
Read More: https://www.fxempire.com/forecasts/article/xrp-news-ripple-ctos-challenge-to-sec-spurs-debate-and-forecast-1414002
Key Points:
• XRP gained 3.23% on Monday, closing the session at $0.6480.
• MicroStrategy fundraising news contributed to broad-based crypto market gains.
• On Tuesday, SEC v Ripple and Coinbase case-related news and BTC-spot ETF market flows need consideration.
The Monday Overview
On Monday, XRP gained 3.23%. Reversing a 2.68% loss from Sunday, XRP ended the session at $0.6480. Significantly, XRP revisited the $0.66 handle for the first time since December 11, 2023.
BTC-Spot ETF Market Fuels BTC and Broad-Based Crypto Rally
BTC surged 8.02% on Monday. MicroStrategy ( MSTR ) plans to acquire more bitcoin fueled the BTC and broader crypto market rally.
On Monday, news of MicroStrategy planning to raise $600 million through a private offering drove buyer demand for BTC and the broader market. However, XRP trailed the broader crypto market. On Monday, the total crypto market cap increased by 5.90% ($135.984 billion) to $2,441 billion.
While XRP enjoyed a positive session, uncertainty surrounding the outcome of the SEC v Ripple case remained a headwind.
Read More: https://www.fxempire.com/forecasts/article/xrp-news-ripple-ctos-challenge-to-sec-spurs-debate-and-forecast-1414002
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