RATE Group | XRP/USD capitalizes on the global cryptocurrency bulls’ run
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XRP/USD capitalizes on the global cryptocurrency bulls’ run

15 Jan XRP/USD capitalizes on the global cryptocurrency bulls’ run

Posted at 08:44h in Cryptocurrency News by

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  • The head of CFTC is not sure whether Ripple’s XRP is a security or not.
  • XRP/USD recovery is capped by SMA100 daily at $0.2430.

Ripple’s XRP, now the 3d largest digital asset with the current market value of $10.1 billion has gained over 7% in recent 24 hours. The coin touched the highest level of 2020 at $0.244 on Tuesday and retreated to $0.2323 by the time of writing. The coin has been moving in sync with the global cryptocurrency market, driven by a strong wave of bullish sentiments. 

XRP’s status is not clear

The Chairman of the US Commodity Futures Trading Commission (CFTC) Heath Tarbert thinks that it is not clear whether XRP is a security. The Agency has been working with the US Securities and Exchange Commission (SEC) to figure out the status of Ripple’s token. Notably, the head of CFTC has now doubts as to the status of Ethereum, which is regarded as a commodity. 

Meanwhile, Ripple Labs is often accused of earning from XRP sales to retain…

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