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GM, crypto fam
Oh boy, do we have a day today! Just when we thought things were getting a bit monotonous in the crypto realm, XRP goes all ‘Hold my Beer!’
Flipping Binance’s BNB for the first time in over two years, it has taken the fourth spot in the crypto market cap rankings. No kidding!
Sure, BNB had a head start at the beginning of the year. Still, XRP clearly didn’t get the memo about underdogs playing nice.
The catalyst? A New York judge’s ruling that XRP sales were not securities through secondary markets. So much for BNB holding its ground despite the repeated regulatory fireworks globally, eh?
But wait, the drama doesn’t end there. XRP didn’t just sneak past BNB’s $40.1 billion valuation, it laughed its way to a $42 billion valuation. The market hasn’t seen such a flipping show since April 2021.
I guess XRP just wanted to relive the glory days. Meanwhile, Binance has been enduring its own personal “Game of Thrones” with global regulatory pressure and considerable sell-side activity.
BNB’s 5% YTD growth looks rather sheepish next to BTC’s 70% and XRP’s gigantic leap of over 130% this year. Don’t get too cozy yet. Ripple has been playing a high-stakes game with the SEC over a three-year-long legal battle.
Accused of illegally offering securities in the form of XRP, Ripple executives Brad Garlinghouse and Christian Larsen have had their work cut out for them. And let’s not forget XRP trading going live on Coinbase.
On the bright side, Thursday’s ruling gave a big push to XRP. This has made platforms like Coinbase and Kraken eager to relist XRP. But let’s not break out the party hats just yet; legal experts caution that the ruling isn’t the final word.
Crypto Flash News
- XRP Now Live on Coinbase: Talk about perfect timing! As XRP soars, Ripple’s trading is now live on Coinbase.
- Spot Bitcoin ETF Application Down Under: The Australian Securities Exchange has received its first spot Bitcoin ETF application.
- Multichain Hits a Snag: As the CEO’s sister is detained in China with a whopping $220 million of funds, Multichain has ceased operations.
Final Thoughts
Navigating the crypto universe can be like surfing in a hurricane. It’s a wild, unpredictable ride with exhilarating highs and gut-wrenching lows.
And as we witness XRP’s stunning comeback, it’s worth remembering the words of Robert Arnott:
“In investing, what is comfortable is rarely profitable.”
We’ve got a fascinating road ahead, my friends. Let’s fasten our seatbelts and get ready for the ride.
And remember, no matter what, always do your research, stay smart, and keep those crypto vibes going. That’s all from me today.
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And always remember, it ain’t news until it’s Goat News!
Stay groovy
Goat out ✌️
