FTX’s $1.2 billion repayment is seen as a significant liquidity event for the industry that may bolster cryptocurrency valuations.
XRP’s rally to a seven-year high came amid the SEC’s latest filing to appeal a court ruling in its partially unsuccessful case against Ripple Labs.
Bitcoin’s 2024 returns were doubled by the XRP token, following a significant legal victory for Ripple Labs and expectations of the SEC potentially dropping the lawsuit.
XRP could be in the midst of a “leverage-driven” pump as the price of the asset soars to reach new yearly highs.