XRP, Coinbase, and The SEC: Key Legal Developments Shaping the Crypto Market

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XRP’s price fell below $0.42, a first since March 2023, amid broader crypto market woes.
Legal battles between the SEC and Ripple/Coinbase could significantly impact XRP’s future.
Conflicting court rulings on similar cases highlight the complex regulatory landscape of crypto.

XRP, the cryptocurrency embroiled in a high-stakes legal battle with the U.S. Securities and Exchange Commission, tumbled below the $0.42 mark for the first time since March 2023, amid a broader market downturn that sent shockwaves through the crypto world.

After briefly rallying on Saturday, July 6, XRP experienced a significant decline on Sunday, falling 6.65% to close at $0.4197. This marked the first time since March 2023 that XRP ended a trading session below $0.42. The volatility contributed to an overall weekly loss of 11.72% for the cryptocurrency.

The SEC’s ongoing legal battles with major crypto players like Ripple and Coinbase continue to capture the attention of investors. A ruling in either case could have ripple effects across the market, potentially sparking a surge in XRP’s price if the outcomes favor the crypto industry.

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