• The crypto market has been exhibiting significant volatility this week, with major coins like XRP and Stellar Lumens first seeing large gains before experiencing sharp pullbacks.
• Ripple’s recent legal victory in the SEC’s lawsuit against them saw $XRP surge by over 100%, although the token’s price has since pulled back by 22%.
• Despite this volatility, projects such as yPredict are continuing to make progress – indicating that renewed investor interest could lead to a fruitful few months ahead.
Crypto Market Volatility
This week, the crypto market has exhibited significant volatility, with major coins like XRP and Stellar Lumens first seeing large gains, then experiencing sharp pullbacks. This volatility has yet to impact the progress of the crypto analytics project yPredict, which is currently in the midst of a highly-successful presale phase.
Ripple’s Legal Victory
The SEC had alleged that Ripple had violated federal securities laws by offering $XRP in an unregistered securities sale. On July 13th however, Reuters reported that Ripple did not violate federal securities law according to ruling by US District Judge Analisa Torres – sending the value of $XRP surging over 100%. Although the token’s price has since pulled back by 22%, it remains well above pre-ruling levels.
Renewed Investor Interest
With attention back on the crypto market due to Ripple’s ruling, projects new and old are benefiting from renewed investor interest – setting the stage for a fruitful few months ahead. This could potentially be positive news for yPredict in particular, which is currently in its presale phase and stands to benefit from any increased investor enthusiasm for cryptocurrency projects.
SEC Partial Victory
Despite winning a partial victory concerning XRP sales to institutional investors in their lawsuit against Ripple Labs Inc., it was still largely seen as a win for cryptocurrencies as a whole – given that it ruled out $XRP being classified as security for now at least.
Long Term Impact
Despite its recent pullback after spiking following Ripple’s legal victory, $XRP remains well above pre-ruling levels -w hich could suggest ongoing confidence from investors regarding its long-term prospects and potential use cases going forward.