Decentral Block Post

The price of XRP (XRP) has skyrocketed in the aftermath of a federal court ruling saying that its sales on crypto exchanges complied with U.S. securities laws.

On July 14, XRP price retreated by about 10% to $0.76, but compared to its lowest price the previous day, it was still up around 65%.

Related: Why is XRP price up today?

At its highest in the last 24 hours, the XRP/USD pairreached $0.93, its best level since December 2021, just shy of hitting the $1 mark.

A whale-backed XRP rally

Certain indicators show that XRP's ongoing price pump may not be just a short-term reaction to the positive news for Ripple.

The price of XRP (XRP) has skyrocketed in the aftermath of a federal court ruling saying that its sales on crypto exchanges complied with U.S. securities laws.

On July 14, XRP price retreated by about 10% to $0.76, but compared to its lowest price the previous day, it was still up around 65%.

Related: Why is XRP price up today?

At its highest in the last 24 hours, the XRP/USD pairreached $0.93, its best level since December 2021, just shy of hitting the $1 mark.

A whale-backed XRP rally

Certain indicators show that XRP's ongoing price pump may not be just a short-term reaction to the positive news for Ripple.

Bitcoin (BTC) consolidated near $31,000 on July 14 after a classic short squeeze sparked new yearly highs.

BTC liquidates $50 million shorts in new squeeze

Data from Cointelegraph Markets Pro and TradingView showed BTC price movements returning to cement support after rapid gains the day prior.

Already tipped for a trip higher, Bitcoin reacted instantly to news that a United States judge had supported the idea that altcoin XRP (XRP) was not a security.

This was taken by markets as a blow to regulator the Securities and Exchange Commission (SEC), which in recent months had sought to label altcoins as securities en masse.

XRP/USD immediately spiked by over 100%, almost touching the $1 mark before returning to trade near $0.80 at the time of writing. The last time that such levels formed part of the chart was in April 2022.

Bitcoin (BTC) consolidated near $31,000 on July 14 after a classic short squeeze sparked new yearly highs.

BTC liquidates $50 million shorts in new squeeze

Data from Cointelegraph Markets Pro and TradingView showed BTC price movements returning to cement support after rapid gains the day prior.

Already tipped for a trip higher, Bitcoin reacted instantly to news that a United States judge had supported the idea that altcoin XRP (XRP) was not a security.

This was taken by markets as a blow to regulator the Securities and Exchange Commission (SEC), which in recent months had sought to label altcoins as securities en masse.

XRP/USD immediately spiked by over 100%, almost touching the $1 mark before returning to trade near $0.80 at the time of writing. The last time that such levels formed part of the chart was in April 2022.

The key to gaining financial security and independence is to invest in passive income. Passive income is generated through investments that offer a consistent source of income with little continuing involvement, in contrast to active income, which necessitates constant effort and time. Passive income is especially valuable because it enables investors to amass wealth and live independently.

Passive income investing, explained

Investing in index funds and exchange-traded funds (ETFs) is a popular passive income strategy in the traditional financial market. Index funds are passively managed mutual funds that seek to match the performance of a chosen market index, such as the S&P 500. ETFs, on the other hand, are similar to index funds but trade on stock exchanges, like individual stocks.

ETFs and index funds have a number of benefits for passive income investors. They instantly diversify investments among a variety of securities, lowering the risk involved with holding individual equities.

They are also economical because of their low expense ratios, which makes them perfect for long-term investing. These funds also give investors the chance to earn income from dividends and capital gains, enabling them to build up their wealth over time.

An investment fund, such as a mutual fund, index fund or ETF, has expenses that go along with owning and administering it. The expense ratio measures these expenses. It represents the portion of a fund’s assets that go toward paying management fees, overhead, marketing costs and other operational costs.

A court ruling in favor of Ripple Labs — stating that XRP (XRP) is not a security — reignited the long-lost hype around the ecosystem. Anticipating an influx of scams as the token rallies defying bearish sentiments, Ripple CTO David Schwartz issued a warning to investors.

A two-year-long legal battle between the Securities and Exchange Commission (SEC) and Ripple partly concluded on July 13 with XRP having ripped off the ‘securities’ label by the United States District Court in the Southern District of New York.

What followed was an organic but substantial spike in XRP’s market price. As shown below, the XRP price rallied over 70% — bringing up its value from $0.47 to $0.82 in a day. The incident also marks the biggest price jump XRP witnessed over the past year.

The hype around cryptocurrencies or crypto ecosystems like nonfungible tokens (NFTs) is when crypto scammers get highly active in trying to dupe unwary investors. Schwartz took to Twitter to warn against the rising XRP scams. He said:

“A lot of scammers are taking advantage of the recent good news to try to cheat and steal. There are no airdrops, giveaways, or special offers associated with this ruling.”

Polygon (MATIC) has experienced a significant price increase on July 13, driven by several key factors. These include a recent positive court ruling for XRP, increased activity of decentralized applications (Dapps) on the Polygon Network, and the highly anticipated launch of Polygon 2.0.

Within just 12 hours, MATIC witnessed a remarkable 24% rally, propelling its price to $0.89 on July 13, reaching its highest level in five weeks. Although the initial excitement subsided, the token managed to sustain a daily gain of 15%, indicating growing demand from traders and investors.

MATIC seizes opportunity from the SEC's loss

On July 13, the United States District Court for the Southern District of New York ruled that XRP is not a security. This court decision could have far-reaching implications for other alternative cryptocurrencies, particularly after the U.S. Securities and Exchange Commission (SEC) specifically classified MATIC as a security during its legal battle against Coinbase on June 6.

As investors evaluated the risks associated with holding and trading assets that could potentially face delisting from regulated centralized exchanges, the price of MATIC plummeted by 37% over the next five days, hitting its lowest point in 11 months on June 10.

The court ruling determined that XRP holders do not have a reasonable expectation of earning profits from the efforts of others. This outcome represents a positive development for the entire cryptocurrency industry.

Polygon (MATIC) has experienced a significant price increase on July 13, driven by several key factors. These include a recent positive court ruling for XRP, increased activity of decentralized applications (Dapps) on the Polygon Network, and the highly anticipated launch of Polygon 2.0.

Within just 12 hours, MATIC witnessed a remarkable 24% rally, propelling its price to $0.89 on July 13, reaching its highest level in five weeks. Although the initial excitement subsided, the token managed to sustain a daily gain of 15%, indicating growing demand from traders and investors.

MATIC seizes opportunity from the SEC's loss

On July 13, the United States District Court for the Southern District of New York ruled that XRP is not a security. This court decision could have far-reaching implications for other alternative cryptocurrencies, particularly after the U.S. Securities and Exchange Commission (SEC) specifically classified MATIC as a security during its legal battle against Coinbase on June 6.

As investors evaluated the risks associated with holding and trading assets that could potentially face delisting from regulated centralized exchanges, the price of MATIC plummeted by 37% over the next five days, hitting its lowest point in 11 months on June 10.

The court ruling determined that XRP holders do not have a reasonable expectation of earning profits from the efforts of others. This outcome represents a positive development for the entire cryptocurrency industry.

Bitcoin (BTC) dominance has taken a tumble in the wake of Ripple’s partial victory against the United States Securities and Exchange Commission, with a surge in altcoin prices briefly causing BTC dominance to fall under the 50% mark. 

Bitcoin dominance — the measure of how much Bitcoin makes up of the total crypto market cap — fell to 49.76% during Asian trading on July 14, according to Tradingview.

Just weeks earlier, BTC market dominance finally managed to rachet above 50%  after a dry spell of two years, amid a slew of applications for spot Bitcoin ETFs from major financial firms. Over the last 24 days, Bitcoin dominance had been hovering around 51% and 52%.

The recent dip in Bitcoin dominance comes as the crypto community is chanting the return of “altcoin season.”

Boosted by Ripple’s court victory the XRP token skyrocketed 83% to top out at an intraday high of $0.866, and briefly became the fourth-largest crypto asset by market capitalization. It is currently sitting at 5th place after a tussle with Binance Coin (BNB).

Ripple Labs’ split-decision victory against the United States securities regulator is being seen as a significant blow to the regulator’s “war on crypto,” however, crypto lawyers warn it isn't a definitive victory for the industry or the firm y

In a landmark ruling on July 13, Judge Torres determined that XRP (XRP) is not a security — at least when sold to the general public.

The decision was met with a joyous uproar from XRP token holders and came with a massive surge in the token's price, with industry heavyweights lauding the decision as likely to aid crypto exchanges Coinbase and Binance in their respective lawsuits.

Luke Martin, the founder of crypto investment firm Venture Coinist noted that the “core component” of the United States Securities and Exchange Commission's (SEC) claim in its suits against Binance and Coinbase is that they offered the sale of unregistered securities on their platforms.

After losing on this matter in the case of XRP, Martin believes this will serve as a substantial blow to the SEC and its chair, Gary Gensler.