Crypto
SEC, CFTC Classify XRP as Digital Commodity Amid Growing Institutional Flows
The SEC and CFTC have clarified their stance on XRP, classifying it as a digital commodity. This regulatory status change comes as institutional flows into the asset continue to grow, with spot ETF activity for Ripple vs US Dollar (XRPUSD) also increasing.
On the exchange side, net outflows were observed on KuCoin (-5.16%) and Gate (-4.07%), but MEXC and Bybit showed heavier buying activity.
The price of XRP recovered to $1.3892, with near-term resistance at $1.4010.