Since some members of the cryptocurrency community pointed out that several digital assets were specifically mentioned as commodities in the Commodity Futures and Trading Commission’s (SEC) lawsuit against Binance, the price of $XRP, the XRP Ledger’s native token, has increased more than 10% over the past 24 hours. Given that Ripple, the dominant participant in the cryptocurrency ecosystem, is engaged in a legal dispute with the U.S. Securities and Exchange Commission, this was seen as a bullish catalyst for XRP (SEC).
One XRP is treated as being equal to all other XRPs, according to Ripple, who claims that XRP is a raw good that is traded in commerce. At Paris Blockchain Week 2023 earlier this month, Monica Long, the president of Ripple, spoke with CNBC International TV and expressed confidence in Ripple’s ongoing lawsuit with the SEC.
