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Ripple (XRP) Becomes Fourth Largest Cryptocurrency After SEC Partial Victory

Following Ripple Labs' partial victory over the SEC on July 13, Ripple (XRP) has become the fourth largest cryptocurrency by market capitalization. XRP's market cap surged by $21.2 billion to reach a new yearly high of $46.1 billion, pushing it up from the 7th position.

The District Court for the Southern District of New York declared that the "offer and sale of XRP on digital asset exchanges did not amount to offers and sales of investment contracts" in a case involving Ripple Labs and the SEC, causing a surge in XRP's price and volume.

Uphold, one of the few larger U.S.-based cryptocurrency exchanges that continued to offer sales of XRP, experienced a "simply unprecedented" spike in volume and temporarily went down. Mainstay U.S. exchanges such as Coinbase, Kraken, and iTrustCapital have also started re-listing XRP on their platforms.

XRP XRP $1.36
-6.03%
XRP SEC Cryptocurrency
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