XRP News: SEC Considers Declaring XRP a Commodity, XRP Price Surges

The Securities and Exchange Commission (SEC) is reportedly weighing the option of declaring XRP a commodity, using Ethereum’s regulatory treatment as a benchmark. This development comes on the heels of a July 2023 ruling that deemed XRP not inherently a security, significantly weakening the SEC’s case against Ripple. With regulators considering a shift in approach, XRP investors are buzzing with excitement, and the cryptocurrency’s price has surged overnight. Here’s a closer look at the latest developments surrounding XRP.

SEC Weighs Declaring XRP a Commodity, XRP Flips ETH FDV

The SEC is using Ethereum’s regulatory treatment as a benchmark in determining XRP’s classification. This follows a July 2023 ruling that declared XRP is not inherently a security, weakening the SEC’s case against Ripple. Regulators are now considering a different approach, which could be a significant turning point for XRP and its investors. The XRP price is up 4.5% overnight.

Ripple News: SEC Ready to Blink—Will XRP $129B Cap Explode?

After three years, the SEC vs. Ripple showdown might soon conclude. Insiders report the finish line is close, potentially days away. XRP price sits at $2.2352, with traders, analysts, and the XRP community buzzing about the potential impact of this legal saga on Ripple’s token. The SEC initiated legal action against Ripple Labs in December 2020, accusing the company of selling XRP as an unregistered security.

Crypto Analyst Sees 46% Upside for XRP, Are We Headed to $3.40?

XRP surges to $2.32, gaining 3.34% in 24 hours amid bullish market sentiment. The Ripple-SEC case is nearing resolution, with reports indicating possible appeal withdrawals. This marks the fourth straight day of gains, driven by Optimism and key regulatory advancements. Ripple’s latest approval from the Dubai Financial Services Authority has played a crucial role in driving XRP’s price upward, granting the company the ability to offer authorized crypto payment services in the UAE.

XRP Price Prediction For March 15

The cryptocurrency market is currently trying to bounce back, with Bitcoin and Ethereum beginning to bounce off an important Fibonacci level, and Solana showing a short-term bullish divergence. However, XRP is breaking out above a critical resistance zone, but continues to face bearish pressure, particularly on the 3-day time frame. The chart reveals a significant bearish divergence, suggesting that a sustained bullish momentum is not likely in the near future. Short-term bullish movements remain possible.