XRP leads crypto rally after SEC's appeal bid is rejected

XRP spearheaded a rally among major cryptocurrencies on Wednesday as the global market capitalization of the entire sector increased by 1% to reach $1.13 trillion.

The token was also boosted after Ripple stated on Wednesday that its Singapore subsidiary, Ripple Markets APAC, had secured a payments license to operate in the city-state.District Judge Analisa Torres said in a brief ruling on Tuesday that the SEC did not demonstrate that the appeal would "materially advance the ultimate termination of the litigation."

The judge scheduled a trial date in April to address remaining issues in the case, and the SEC could still try to appeal the entire case after this trial.Bitcoin, the chief barometer for crypto market sentiment, has a historical tendency to perform poorly in September. However, YouHodler Risk Manager Sergei Gorev told The Block that "bitcoin showed quite strong dynamics this September, adding more than 3% to its value.

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