The controversial cryptocurrency XRP has broken its previous all-time high after seven years, fueled by a recent court victory against the SEC and speculation about the US creating a strategic reserve of American cryptocurrencies.
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It then came close to dropping out of the CoinMarketCap top 10 in late 2020 after Ripple was sued by the SEC. However, XRP ended up emerging victorious, with the court determining that secondary sales of the token did not constitute securities offerings.XRP has now soared by more than 30% over the past four days alone, vastly outperforming other major cryptocurrencies.
The third-largest cryptocurrency is up more than 6% over the past 24 hours following a New York Post article stating that the U.S. might create a strategic reserve of American cryptocurrencies of the likes of Solana and XRP. While the idea might sound far-fetched, it nevertheless helped to propel the token to a new record peak.
The cryptocurrency might be next in line to get its own cryptocurrency ETF in the U.S., with JPMorgan forecasting that the product could attract roughly $8 billion worth of inflows. Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
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