Bitcoin (BTC-USD) and Ethereum (ETH-USD), the two biggest cryptocurrencies, are up 2.2% and 6.1% respectively at the time of writing today as the cryptoverse basks in Ripple’s (XRP-USD) recent win in a case against the Securities and Exchange Commission (SEC).
The ruling from a U.S. District judge noted that Ripple did not violate federal securities laws by selling XRP tokens on public exchanges. Importantly, the ruling means other names in the crypto space who have found themselves in the SEC’s crosshairs could also be deemed not guilty of violating any securities laws.
Crypto exchange Coinbase (NASDAQ:COIN) which is also facing charges from the SEC has already made XRP live on its platform after the recent ruling.
The rising tide is lifting multiple crypto boats today and Ripple the big winner is up a massive 64% at the time of writing already.
What’s more, while Bitcoin has steadily climbed 50% over the past six months, Standard Chartered now expects the crypto bellwether to reach the $120,000 mark by the end of next year. The favorable outlook comes amid improved miner profitability and Standard Chartered’s belief that the crypto winter is over.
Additionally, excitement among crypto enthusiasts remains palpable with the great Bitcoin halving coming up next year as well.
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