Bitcoin stable, XRP surges on SEC win, but market still volatile

From Investing.com

August 8, 2024 2:25 AM:

Bitcoin price remained stable amid market volatility, while XRP surged 18.2% after Ripple Labs was ordered to pay a $125 million fine to the SEC. Despite the ruling, XRP failed to fully recoup previous losses. Ripple CEO Brad Garlinghouse called the decision a “victory” for the company.

Cryptocurrency prices struggled this week due to concerns over U.S. economic growth and rising Japanese interest rates. The SEC ruling on Ripple provided some clarity, but uncertainty remains regarding future regulations. Risk aversion towards speculative assets also impacted crypto prices, with Ethereum falling 2.9% and meme tokens fluctuating.

Read more at Investing.com: steadies at $57k, XRP surges on Ripple “victory” in SEC suit By Investing.com