Surge Forward with Uncapped Crypto Potential as SEC Revolutionizes XRP Classification

Title: XRP News – SEC Weighs Declaring XRP a Commodity, XRP Flips ETH FDV

In a shocking turn of events, the Securities and Exchange Commission (SEC) is considering a proposal to classify Ripple’s XRP as a commodity. This news comes as XRP has surpassed Ethereum in terms of market capitalization for the first time ever.

According to sources close to the matter, SEC officials have been meeting with Ripple executives to discuss the potential reclassification. If approved, this move would be a significant victory for Ripple and its CEO Brad Garlinghouse, who has long advocated for XRP’s commodity status.

Meanwhile, Solana (SOL) and Cardano (ADA) are also part of the proposed digital asset stockpile, which is intended to serve as a reserve of seized cryptocurrencies held by law enforcement. Notably, no new crypto purchases will be made.

As the Ethereum network continues to struggle following its March 2024 upgrade, which slashed transaction fees by 95%, XRP has been thriving. Solana’s explosive growth has further diminished Ethereum’s dominance, particularly in the meme coin frenzy that swept the market last year. Notably, Solana’s trading volume now rivals Ethereum and all its layer-2 solutions combined.

XRP’s outstanding performance is underscored by its first-place ranking in terms of FDV (Fully Diluted Valuation), surpassing Ethereum for the first time ever. This move has significant implications for the crypto landscape, as regulatory clarity, institutional DeFi adoption, and pro-crypto leadership are reshaping market dynamics.

The prospect of Ripple settling with the SEC could be a game-changer for the company and the broader crypto industry. Such a settlement would not only clear the path for XRP ETFs but also establish stronger legal precedent for other blockchain projects facing similar regulatory scrutiny.

Ethereum, meanwhile, faces increasing competition from faster, lower-cost alternatives, raising questions about its long-term dominance in the market.

The crypto media landscape is abuzz with this news, and Brave New Coin will continue to bring you updates as more information becomes available.

Source: https://bravenewcoin.com/insights/xrp-news-sec-weighs-declaring-xrp-a-commodity-xrp-flips-eth-fdv