• Recent Congressional hearing and EU’s Markets in Crypto-Assets (MiCA) Act have given renewed hope for regulatory clarity.
• Ripple Labs is making strides to expand its services to other cross-border markets, including Africa, Asia, South America and Europe.
• Cryptocurrency analyst Cheeky Crypto predicts XRP price action is poised for a major upside after the final ruling of the SEC lawsuit.
Recent Regulatory Developments
The recent Congressional hearing that involved the SEC Chair Gary Gensler has rejuvenated hopes of regulatory clarity in the United States, especially for the sixth largest digital asset, XRP. Furthermore, the European Union parliament almost unanimously passed the Markets in Crypto-Assets Act (MiCA) legislative standards that put the region ahead of other global markets.
Ripple’s Expanding Market Presence
Notably, Ripple Labs has made a tremendous entry into the European market, having collaborated with local financial regulators on CBDC development. With a thinning XRP liquidity in the United States, Ripple has not shied from expanding its services to other cross-border markets, including Africa, Asia, South America and Europe.
XRP Price Analysis
Having demonstrated market resilience with the ongoing lawsuit filed by SEC, XRP price action is under the radar of almost all crypto traders. According to a famous pseudonymous cryptocurrency analyst Cheeky Crypto, XRP market is poised for a major upside after final ruling. The analyst gave an example of Kik Interactive Inc Vs SEC lawsuit from early 2020 which concluded with Kin token charged as an unregistered security and made Kik pay $5 million penalty for selling unregistered securities – resultantly leading Kin token saw a significant rally within 7 days‘ period post settlement announcement. However it should be noted that Kin token never retested ATH achieved during 2017/2018 crypto bull market yet again.
Risk Management Considerations
It is important to consider risk management while investing in cryptocurrencies like XRP as they are highly volatile assets and their prices can move drastically within short time frames due to numerous factors such as news announcements or regulatory developments etc.. It is suggested that investors should always do thorough research before investing any funds into cryptocurrencies or any other assets class such as stocks or commodities etc..
Conclusion
The recent regulatory developments along with Ripple’s expanding presence across various global markets give strong indications towards improved prospects for XRP’s price action in near future – however investors must keep risk management considerations at top priority while making any investments decisions regarding cryptocurrencies like XRP or any other asset classes such as stocks or commodities etc..
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