Dear Readers, 

There is no further improvement in the global crypto market.

At the time of writing this article, the global crypto market is valued at $ 2.02 Trillion another 5% down in the 24 hours.

The crypto market leaders BTC is trading at $ 55009 and ETH trades at $2877 which are also tumbled more than 5% in the 24 hours.

At this turmoil, what is cooking so much interest is that the update of XRP Vs SEC case updates: 

We all know that XRP, also known as Ripple, is a decentralized cryptocurrency and digital payment platform. Founded in 2012, Ripple aims to enable fast and cheap global transactions. This is an alternative to the SWIFT mode of inter country transactions. 

In the suit filed by XRP against SEC, on June 20, Judge Phyllis Hamilton of the U.S. District Court for the Northern District of California has come up with a most interesting class action suit Ripple faced. She allowed only one individual state law claim against the crypto firm and its CEO Brad Garlinghouse to proceed to trial.

While the remaining claim – that, during a 2017 interview, Bard Garlinghouse, the CEO of XRP made “misleading statements” in connection with the sale of the XRP token, which the plaintiffs say were securities, is only worth to a tune of $174, which is a small potatoes for a firm estimated to be worth $11 billion.

Even the crypto lawyers are not come to a conclusion that whether XRP is a security or not. 

While this has been interpreted in deep, there is a good moment for XRP to cheer up with. 

While there are uncertainties in the upcoming US elections, we could see a shaking in crypto market as well.

But the US parliamentarians are much hoping to looking forward the Financial Innovation and Technology for the 21st Century Act (also known as FIT21 or “the crypto bill”) recently passed the House with overwhelming bipartisan support and is now on its way to the Senate.

This landmark legislation aims to provide much-needed regulatory clarity for the cryptocurrency industry. 

The legislation would give new authority over the digital commodities market to the Commodity Futures Trading Commission, while also designating the Securities and Exchange Commission (SEC) as the regulator for the digital securities market.

Let's see how this going to work in the future on all the crypto digital assets.

While we have witnessed the broad bloodbath in the cryptomarket space, the XRPs Chief Technology Officer David Schwartz, has opened up and broke the silence in  the price of XRP.

He reportedly focused on the utility aspect, stating that the current price allows users to acquire enough XRP to facilitate a $1 payment for just $1 worth of it.   

It clears the air that the focus on XRP's functionality as a medium of exchange despite the broader market downturn and it is not to be considered as an  investment asset class. 

Currently XRP is ranked at no 7 and it is trading at $0.415, a down of 6.5% in the past 24 hours and over 13% in the past 1 week.

But, if XRP wins over SEC in its legal battle, everyone anticipates that XRP would touch $1.