The post XRP up 6.9% and 8% in South Korea on reports SEC case could be dismissed appeared on BitcoinEthereumNews.com.
In the last 24 hours, XRP has experienced a notable price recovery in South Korean markets, up by 8% against the country’s local KRW currency. It also has a 6.9% spike in global crypto exchanges. This surge comes amid growing speculation that the ongoing legal battle between Ripple Labs and the US SEC could come to a close soon. According to market analysts, this will add to the Trump rally effect and usher in a new era of workable crypto regulations. According to market data from TradingView, Ripple (XRP) has witnessed a surge in market activity, including trade and purchases. The market also celebrates the win that is Gary Gensler’s exit from the Securities and Exchange Commission (SEC) chairman office. To that end, the crypto Fear and Greed index sits at 76 – showing extreme greed in market sentiment. Crypto Fear and Greed Index. Source: Alternate.me Investors are hopeful that Gary Gensler’s resignation as SEC chairman signals a favorable court ruling for Ripple. Pro-crypto lawyer John Deaton believes it should be completely dismissed. XRP price shows upward momentum On South Korea’s most popular exchanges, Upbit and Bithumb, XRP’s trading volumes have gone up by 65% and 67%, respectively, over the last day. As of press time, the coin is changing hands at 4,864 KRW, 28% up from its value seven days ago and 40% in the last month. XRP/KRW trading chart. Source: Upbit exchange. The positive price movement follows a series of developments, such as the recently filed SEC opening brief in its appeal against Ripple. The financial watchdog is challenging Judge Analisa Torres’s 2023 ruling that XRP was not entirely sold to investors as securities. The SEC claims Ripple’s $2 billion token sales violated federal securities laws. The agency also argues that it does not need to prove investors’…