NEW YORK - At the recent Ripple Swell Conference, Ripple CEO Brad Garlinghouse expressed criticism towards the U.S. Securities and Exchange Commission (SEC), accusing the regulatory body of straying from its core mission of protecting investors. This critique comes amid Ripple's ongoing legal battle with the SEC, which has seen a series of legal victories for the blockchain-based digital payment network.
The company's successes in court have positively influenced the price of its native cryptocurrency, XRP, leading to a 1.84% increase in value. Investors and analysts are closely monitoring this situation, as the future trajectory of XRP seems to be linked with regulatory developments, particularly the SEC's stance on a Bitcoin exchange-traded fund (ETF). The approval of such an ETF is anticipated to have a significant impact on the broader cryptocurrency market.
Market analysts are optimistic about XRP's prospects, forecasting that its price could ascend to $0.8 by the first quarter of 2024. This prediction is based on expectations of heightened institutional investment flowing into the cryptocurrency space.
In related news from the crypto sector, VC Spectra (SPCT), an innovative AI-powered decentralized asset management protocol, has garnered considerable interest from investors during its presale stages. The protocol issues BRC-20 standard tokens, which confer a range of benefits to holders, including quarterly dividends and exclusive access to select blockchain ventures.
During Stage 4 of VC Spectra's presale, its token price reached $0.066, translating to a substantial 725% profit for early-stage investors. Projections indicate that the token's value could surpass $0.08 by Stage 6 of the presale. This performance suggests a promising future for VC Spectra's tokens once they become available on major cryptocurrency exchanges.
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