Cryptocurrency Market with the Effects of the SEC-XRP Lawsuit

Cryptocurrency Market with the Effects of the SEC-XRP Lawsuit Cryptocurrency market with the effects of the SEC-XRP lawsuit, cryptocurrencies started to rise again with the appointment of a crypto-friendly president to the SEC Presidency. The leading crypto currency Bitcoin has added a new one to the countless records of 2020. What awaits the dynamic cryptocurrency exchange in the coming days, what are the important developments?   What Happened? In the past week; The details of the lawsuit filed against Ripple (XRP) by the US Securities and Exchange Commission (SEC) have been determined. As a result of the lawsuit filed with the claim that Ripple, which is headquartered in the USA, can only trade real estate, the stock exchanges decided to stop trading Ripple. After the selling pressure, Ripple suffered a serious loss of value, with the Ripple investors shift to Bitcoin, the BTC Dominance level climbed to its highest peak in 8 months.   What Awaits Crypto Coins? There are two critical elements in the SEC-XRP case. The first of these is the temporary appointment of crypto-friendly president to the US Securities and Exchange Commission. The other is legal obligations. After Joe Biden takes over the presidency, his appointment of this position permanently will undoubtedly be a positive development for cryptocurrencies, on the other hand, there are legal obligations. This is why it is vital for the Ripple investors to monitor developments.   BTC-USD Especially in 2020, BTC, which received the support of institutional investors, added a new one to its recent records and exceeded $ 28,000 in weekend transactions. Vijay Ayyar, manager of the business development unit of the cryptocurrency exchange Luno in Singapore, made the following assesment regarding BTC recording the longest rising streak since mid-2019; “I think we are very close to the top, still we can see 30 thousand dollars. We should definitely see some retracement, but its magnitude will likely be less. We can only see it with a decline of 10 to 15 percent.”     Source: Investing