The XRP community is ecstatic over the recent price breakout from the macro logarithmic downtrend. The sixth-largest digital asset surged to a ten-month high of about $0.58 last week but has since retracted to trade around $0.51 on Monday. However, the decline is largely due to the 300 million XRP sold by Ripple in its monthly escrow release.
According to on-chain data, Ripple returned about 700 million XRP to the escrow account over the weekend. Ripple uses XRP sales to incentivize On-Demand Liquidity programs and its RippleNet customers.
Consequently, the XRP market benefits from deeper liquidity due to increased involvement from global institutional traders.
XRP’s Future Growth Prospects
The outcome of the Ripple vs SEC lawsuit significantly impacts XRP’s future growth prospects. United States SEC Chair Gary Gensler argued during a recent hearing at the House Appropriations Subcommittee on Financial Services and General Government that all digital assets apart from Bitcoin are unregistered securities. Gensler explained that almost all crypto assets have a group of people working towards their success, thus qualifying as a security.
Related: Ripple Vs SEC: Attorney John E. Deaton Predicts Timeline For Lawsuit Outcome – Coinpedia Fintech News
XRP, ETH, and Altcoins are Not Securities
Famous crypto lawyer John E Deaton analyzed the Howey test on digital assets and explained that XRP, ETH, and any other altcoin are not securities, despite undertaking ICO during their early stages.
“When the investor in Howey bought the [mango] grove, he bought it directly from the Howey Company. If that same investor had sold the [mango] grove to a second buyer years later, a buyer with zero knowledge of the Howey company and its involvement, the subsequent sale is not of security,” Deaton noted.
His sentiments were echoed by Chief Legal Officer at Coinbase, Paul Grewal, who noted that digital assets are not investment contracts. As a result, the XRP community has pushed for Coinbase to relist the asset on its trading platform.
Also read: John Deaton Calls XRP a Cockroach, that Cannot Be Killed
Credit: Source link
Bitcoin 
Ethereum 
XRP 
Tether 
Solana 
BNB 
USDC 
Dogecoin 
Lido Staked Ether 
TRON 
Cardano 
Wrapped stETH 
Chainlink 
Wrapped Beacon ETH 
Hyperliquid 
Wrapped Bitcoin 
Ethena USDe 
Sui 
Figure Heloc 
Stellar 
Avalanche 
Wrapped eETH 
Bitcoin Cash 
WETH 
Hedera 
LEO Token 
Litecoin 
Cronos 
Toncoin 
USDS 
Shiba Inu 
Coinbase Wrapped BTC 
Binance Bridged USDT (BNB Smart Chain) 
Polkadot 
WhiteBIT Coin 
Uniswap 
Ethena Staked USDe 
World Liberty Financial 
Ethena 
Mantle 
Monero 
Aave 
Bitget Token 
Pepe 
Dai 
OKB 
Ondo 
Jito Staked SOL 
Bittensor 
NEAR Protocol 