The price of Bitcoin is hovering around $87,000, forming a box range. Ripple had some positive news with the withdrawal of the lawsuit by the U.S. Securities and Exchange Commission (SEC), but it did not lead to a price increase.
According to CoinMarketCap on the 28th, Bitcoin is trading at $87,409, up 0.61% compared to 24 hours earlier as of 8 a.m. Bitcoin has maintained the $87,000 level since the 25th.
At the same time, Ethereum is trading at $2,008, up 0.36%, while Ripple is recording $2.35, up 0.12%.
Ripple initially rebounded on the news of the withdrawal of the SEC lawsuit but quickly gave up its gains. The SEC filed a lawsuit in December 2020, claiming that Ripple Labs, the issuer of Ripple, sold Ripple without registering it as a security, seeking about $2 billion. In July 2023, the U.S. District Court in New York significantly reduced the penalty surcharge to $125 million. After the SEC expressed its intention to appeal, it recently abandoned the appeal, concluding the lawsuit between the two parties.