Why Bitcoin, Ethereum, and Dogecoin Are Soaring Today
The "big three" cryptocurrencies are on the move today. Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) are up 2.9%, 7.3%, and 3%, respectively, as of 2:30 p.m. ET. Earlier in the day, however, they were up as much as 3.6%, 8.7%, and 4.7%, respectively. The S&P 500 is up 0.8% and the Nasdaq Composite is up 1.1%.All three cryptocurrencies got a boost from news that the SEC's appeal in its case against XRP would be dropped, a major step that confirms the Trump administration's softer approach to crypto regulation, boosting the whole market.Ripple, the company behind XRP, announced that the SEC is abandoning its appeal in the long-running legal battle against the company. The case dates back to 2020 when the SEC sued Ripple for allegedly selling unregistered securities. Ripple scored a partial victory last year when a judge ruled XRP wasn't a security when sold to retail investors -- though institutional sales were different. The SEC appealed this decision, but now, after a change in leadership, the regulator is dropping its appeal.Continue reading
The "big three" cryptocurrencies are on the move today. Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) are up 2.9%, 7.3%, and 3%, respectively, as of 2:30 p.m. ET. Earlier in the day, however, they were up as much as 3.6%, 8.7%, and 4.7%, respectively. The S&P 500 is up 0.8% and the Nasdaq Composite is up 1.1%.
All three cryptocurrencies got a boost from news that the SEC's appeal in its case against XRP would be dropped, a major step that confirms the Trump administration's softer approach to crypto regulation, boosting the whole market.
Ripple, the company behind XRP, announced that the SEC is abandoning its appeal in the long-running legal battle against the company. The case dates back to 2020 when the SEC sued Ripple for allegedly selling unregistered securities. Ripple scored a partial victory last year when a judge ruled XRP wasn't a security when sold to retail investors -- though institutional sales were different. The SEC appealed this decision, but now, after a change in leadership, the regulator is dropping its appeal.
