{"id":193120,"date":"2023-08-30T17:39:51","date_gmt":"2023-08-30T17:39:51","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=193120"},"modified":"2023-08-30T17:39:51","modified_gmt":"2023-08-30T17:39:51","slug":"ethereum-rode-the-wave-of-xrps-victory-to-surpass-2000-but-mores-calling","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/ethereum-rode-the-wave-of-xrps-victory-to-surpass-2000-but-mores-calling\/","title":{"rendered":"Ethereum Rode The Wave Of XRP&#039;s Victory To Surpass $2000, But More&#039;s Calling"},"content":{"rendered":"<ul>\n<li>ETH hit $2,000 for the first since May as it shows signs of staging a comeback.<\/li>\n<li>The asset leveraged XRP\u2019s historic win over the SEC to reach a new milestone.<\/li>\n<\/ul>\n<p>Ripple Labs\u2019 \u201cpyrrhic victory\u201d sent virtual currency prices surging to new highs, with Ethereum (ETH) latching onto the bullish wave to hit $2,000.<\/p>\n<p>After months of roiling in the doldrums of low prices, ETH recaptured $2,000 in a strong show of strength. The second-largest cryptocurrency reached a 30-day peak of $2,026 on July 11.<\/p>\n<p>The rally left ETH with a market capitalization of $238 billion with a market dominance of 19.17%. Daily transaction volumes grew by 38.29% to settle at $11 billion as market activity exploded following XRP\u2019s victory.<\/p>\n<p>The last time ETH traded above $2,000 was back in May on a market resurgence. Apart from a minor rally in April that saw the asset climb as high as $2,100, the last time ETH exchanged for over $2000 was 11 months ago at the start of the extended bear market.<\/p>\n<p>Despite the rally, ETH\u2019s price is still 60% below its all-time high of $4,878 in the bull market of November 2021.<\/p>\n<p>However, experts predict ETH will experience a minor slump as the euphoria of XRP\u2019s victory wears off. Aside from ETH, other cryptocurrencies are also leveraging XRP\u2019s win over the U.S. Securities and Exchange Commission (SEC) to post impressive figures.<\/p>\n<p>Cardano (ADA), Solana (SOL), and Avalanche (AVAX) recorded double-digit gains in the wake of the court\u2019s ruling. Other virtual currencies riding the XRP\u2019s wave include Dogecoin (DOGE), Polkadot (DOT), and Shiba Inu (SHIB), with rallies that have sent their communities buzzing.<\/p>\n<p>The global virtual currency market capitalization hovers at the $1.24 trillion mark, which is a 2% increase before the announcement of Ripple Labs\u2019 victory over the SEC.<\/p>\n<h2><strong>The ruling sent shockwaves across the ecosystem<\/strong><\/h2>\n<p>In December 2020, the SEC instituted legal action against Ripple Labs and its executives for selling securities without seeking the consent of the securities watchdog. Over the next 30 months, both parties were embroiled in a legal battle that saw the entire virtual currency community watch with bated breaths.<\/p>\n<p>On July 13, the court ruled that Ripple Labs\u2019s XRP did not fall under the designation of securities when traded on digital asset exchanges. However, the court ruled that the institutional sale of the assets stood in breach of existing capital market regulation, which netted Ripple Labs over $700 million in profit.<\/p>\n<p>Source: <a href=\"https:\/\/zycrypto.com\/ethereum-rode-the-wave-of-xrps-victory-to-surpass-2000-but-mores-calling\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ETH hit $2,000 for the first since May as it shows signs of staging a&#8230;<\/p>\n","protected":false},"author":4,"featured_media":193119,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum Rode The Wave Of XRP&#039;s Victory To Surpass $2000, But More&#039;s Calling - Tokens Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tokenstalk.info\/crypto\/ethereum-rode-the-wave-of-xrps-victory-to-surpass-2000-but-mores-calling\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Rode The Wave Of XRP&#039;s Victory To Surpass $2000, But More&#039;s Calling - 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