The market for XRP could quickly dry up, causing prices to suffer, if the U.S. Securities and Exchange Commission (SEC) ultimately prevails in an expected lawsuit against Ripple Inc., analysts and traders said.
Cryptocurrency traders showed their excitement for FTX’s pre-IPO Coinbase (CBSE) futures Tuesday morning by pushing the price above $295, a roughly 140% increase from the listing price of $125.
The U.S. Securities and Exchange Commission (SEC) believes Ripple Labs violated federal securities laws in selling the XRP cryptocurrency to retail consumers.