Crypto-watchers and investors have been on the edge of their seats for months waiting for the outcome of the XRP vs SEC battle… finally, it’s arrived!
And it’s XRP that’s come out on top! The judge’s crypto game-changing verdict is a significant legal victory, for in the eyes of the law it means Ripple Labs Inc. did not violate federal securities law.
The result prompted a price-surge in XRP by 75%. The knock-on positive effect with other coins was immense. Coinbase, the largest U.S. cryptocurrency exchange, saw its stock rise by 24% after announcing it would resume trading XRP. Bitcoin, the king of crypto, rose by 4.1 per cent to $31,584, and Ethereum increased by 6.43 per cent to $1,993.3.
It’s MASSIVE because it’s a huge boost for the confidence of the entire crypto industry – making it the perfect time for investors new, and seasoned, to dive into the world of cryptocurrencies and start learning about it.
Even more so when we learn that the world’s second-largest asset manager, Vanguard ($7.2 trillion), ramped up its investments in the bitcoin mining sector to the tune of $560 million+!
Meanwhile, inflation coming down means the market is now more bullish than ever for stocks and cryptos.
The news that the Fed Reserve has at last taken a breather following ten straight interest rate rises, means more opportunities for investors, with more quality investments at bargain prices on the horizon.
As investment supremo Warren Buffett says – “When it rains gold, put out the bucket, not the thimble.”
Before you do though, make sure you use our Price Cost Averaging calculator to help you determine the right amount to invest and the best frequency to do so, ensuring you stay on track to reach your financial goals.
And please remember, everything we offer is NOT financial advice. It is vital you do your own research.