In the ever-evolving world of cryptocurrency, Ripple’s digital asset, XRP, has achieved a remarkable milestone. It has earned its place in the prestigious Hong Kong Virtual Asset Consortium’s (HKVAC) virtual asset index, marking a substantial accomplishment for this cryptocurrency. XRP now holds a noteworthy 6.94% share in the HKVAC Cryptocurrency Global Large Top5 Index and Equal Weight Index. This recognition elevates XRP into the company of distinguished digital currencies, with only Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) having larger shares, each commanding a 15% stake.
The decision to include XRP in the HKVAC index was not arbitrary. Rigorous criteria governed the selection process, demanding that virtual assets maintain a median market capitalization of at least $10 million over the preceding three months and sustain a median daily traded value of no less than $100,000 during the same period.
So, what led to this milestone? XRP’s impressive rise within the HKVAC index can be attributed to a recent legal victory against the U.S. Securities and Exchange Commission (SEC). In a groundbreaking ruling, the SEC’s case against Ripple concluded, providing clear evidence of XRP’s non-security status. This landmark determination played a pivotal role in solidifying XRP’s reputation as a dependable investment choice and earned the trust and confidence of the global crypto community. The initial verdict was delivered in July, and with the subsequent dismissal of the SEC’s appeal, XRP’s triumph became unequivocal, further strengthening its position in the cryptocurrency market.
As XRP proudly stakes its claim in the Hong Kong index, the future of this digital currency shines brighter than ever. This moment marks a significant milestone in its journey towards broader acceptance and adoption on the global stage.
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