The crypto community has been on edge lately with all the recent happenings, like the crackdown on Kraken and the Coinbase CEO suggesting a ban on crypto staking. And, of course, there’s the ongoing legal case between Ripple and the SEC.

You see, the SEC is accusing Ripple of conducting an unregistered securities offering of XRP, which is the digital currency used on the Ripple network. Everyone was waiting to see what the SEC will say on February 10th, as it was expected to be a big statement that could impact the entire crypto world.

The crypto community is still on tenterhooks as the big announcement has been pushed back to February 16. But the Chairman of the SEC, Gary Gensler, has come forward to shed some light on the recent crackdown on Kraken.

He made a video explaining why it happened and even hinted that similar actions may be taken by other countries. So, it’s still an exciting time in the crypto world as everyone waits to see what will happen next.

“Stepping back for a moment from what’s happening in the US – just in the last few weeks, the number of positive (or at least headed in the direction of CLARITY) global regulatory developments is energizing,”. 

After the recent crackdown, the crypto market saw a slight dip, with the price of Bitcoin dropping below $22,000. However, despite being rejected once again at $0.4, XRP managed to trade above $0.38, showing potential for a quick rebound. This resilience to external factors highlights XRP’s stability in the market.

The demand for relisting XRP has been growing, especially after the favorable ruling for LBRY on January 30, 2023. The XRPArmy is pushing for the token to be relisted on Coinbase and Binance US exchanges. It will be interesting to see if this growing movement for relisting XRP will succeed, or if the SEC will continue the lawsuit beyond the speculated timeline for a Summary Judgement in March 2023. The outcome of this case will have far-reaching implications for the crypto community and could shape the future of XRP and other digital assets.

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