Ripple (XRP) Report from Bank of America! Could It Be A Catalyst For Bitcoin And Altcoins?

long-standing XRP – SEC judge in the case last week Ripple announced its summary judgment in its favour.

After this decision, especially XRP, bitcoin And altcoinThere was an increase in .

While the XRP decision was welcomed in the crypto industry, Bank of America Analysts also evaluated the impact of this decision.

Stating that it is difficult for now to assess the wider effects of the court decision, BoF analysts drew attention to the necessity of a comprehensive regulatory framework in their report, according to the report of Coindesk.

Analysts stated that a comprehensive regulatory framework is crucial for the mainstream adoption of cryptocurrencies and for institutional investors to come to the industry. XRP stated that the decision made little contribution to the establishment of this regulatory framework.

“A US court has ruled against the SEC in the XRP-SEC case.

At this point, the court decided that Ripple’s sale of XRP on cryptocurrency exchanges does not constitute a sale of securities.

This decision was welcomed by the cryptocurrency industry. However, this decision has done little to clarify the necessary regulatory framework for the crypto industry.

It seems difficult to determine the wide-ranging consequences of this decision.”

XRP, which went up to $ 0.94, experienced some pullback and is at $ 0.70 at the time of writing.

*Not investment advice.