XRP climbed 7.2% as investors cheered a new SEC regulatory exemption for tokenized stocks and a cooling in global oil prices.
XRP rose 7.2% after the SEC granted a five-year tokenized-stock exemption, which the market treated as a bullish regulatory signal.
Brent crude retreated from nearly $110 to below $104, easing inflation fears and supporting risk-on assets like XRP.
The S&P 500 dropped 0.2% as the market digested the SEC exemption and falling oil prices.
The Nasdaq Composite was flat at the time of the XRP move.
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XRP surged 7.2% on Friday following an SEC announcement granting a five-year exemption for trading tokenized U.S. stocks. The move, interpreted by markets as a positive regulatory signal, coincided with a retreat in Brent crude prices below $104, which eased inflation concerns and bolstered appetite for risk-on assets.
The market interpreted the SEC's five-year exemption for tokenized stocks as a bullish signal that regulators are taking action to define rules in the absence of broader congressional legislation.
High oil prices often fuel inflation concerns, prompting investors to shift capital into safer assets like bonds. As Brent crude retreated from $110 to below $104, the resulting decline in Treasury yields encouraged a return to risk-on assets like XRP.