The XRP price is at a crucial turning point, with experts warning investors to be cautious over ongoing uncertainty surrounding the Securities and Exchange Commission (SEC)’s appeal. While Ripple remains a strong player in the crypto space, market analysts suggest diversification of portfolio.
Ripple vs. SEC: Legal Battle
Even after Gary Gensler’s retirement and Mark Uyeda’s nomination as temporary chair, the SEC has not confirmed its position on the Ripple appeal.
As one of the most high-profile enforcement proceedings against a cryptocurrency firm, the Ripple case may be put on pause as interim chair Uyeda and commissioner Hester Peirce await Paul Atkins’ (former commissioner of the SEC) confirmation before proceeding. However, the pressure is increasing. The private hearing might provide a platform for the SEC to decide on whether to pursue or abandon its appeal in the Ripple case.
On February 12, XRP price climbed by 2.52%, correcting from 0.46% drop and closing at $2.4741. The gain was consistent with the whole market, which rose 2.62%, bringing the total crypto market worth to $3.18 trillion.
However, while uncertainty surrounding the SEC’s appeal persists, XRP price remains much lower than its January 16 high of $3.3999 and its 2018 record high of $3.5505.
If the SEC withdraws its appeal, XRP price might rise over its all-time high of $3.5505. Furthermore, the launch of an XRP-spot ETF may propel the XRP price to $5, stimulated by institutional demand. The token may, however, go below $1.50 if the SEC moves forward with the appeal and rejects XRP-spot ETF applications.
DTX Exchange: Unified Exchange Platform
DTX Exchange (DTX) is an upcoming exchange platform that is swiftly cementing its position. DTX offers innovative technology, solid fundamentals, and potential to grow.
It is introducing the first unified exchange platform, which will give traders access to more than 12,000 tradeable assets under one roof, including FX, equities, ETFs, cryptocurrency, and a lot more. This will save them from the hassle of managing multiple platforms for different assets.
Their strong layer-1 blockchain VulcanX powers this platform. It recently released a testnet and gave an expected TPS of 200,000, setting itself apart as one of the fastest in the industry. Traders could easily perform large trades with such high-capacity computing power without worrying about speed or efficiency.
In addition, it provides a non-custodial Phoenix Wallet, a no-KYC regulation policy, an intuitive user interface, a distributed liquidity pool, and much more. DTX Exchange aims to become the go-to solution.
DTX Exchange is currently in its presale phase 8. The presale has successfully collected over $13.9 million in funding from investors all around the globe. Each DTX token is available for only $0.16.
