MoonPay recently announced its support for trading XRP Coin on its platform, allowing users to buy and sell directly through its application. This development comes as Ripple faces ongoing legal challenges that may extend for another year due to the appeal process. The implications of this announcement are significant for the cryptocurrency market.
What Does MoonPay Offer for XRP?
With a user base exceeding 20 million, MoonPay facilitates transactions in over 50 cryptocurrencies across 180 countries. The inclusion of XRP Coin highlights the platform’s confidence in the cryptocurrency’s status amid ongoing legal scrutiny.
How Will SEC Regulations Affect XRP?
The current legal situation means that transactions involving XRP Coin are not classified as securities until the appeal process concludes, offering some protection against further SEC actions regarding unauthorized sales on exchanges.
Recent trends suggest that cryptocurrency markets might be entering an upward trajectory:
- Bitcoin‘s price has surged to approximately $68,424.
- Historically, cryptocurrencies tend to rise from mid-October.
- Upcoming U.S. elections are associated with price increases in the crypto sector.
As XRP Coin’s price fluctuates, it recently dipped below $0.5180 but is now approaching the $0.55 threshold, indicating potential recovery despite ongoing legal hurdles.