Bitcoin Regains $28K; XRP Surges for a Second Day | Currency News | Financial and Business News

Bitcoin (BTC) showed signs of resilience Wednesday, shedding tremors from regulatory action against crypto exchange Binance to recover above the key $28,000 level.

XRP tokens jumped for a second straight day, adding 11% in the past 24 hours. They were buoyed by speculation that the classification of bitcoin and ether (ETH) as commodities in the U.S. Commodity Futures Trading Commission (CFTC) suit against Binance might mean XRP tokens are classified as commodities as well. That might hurt the U.S. Securities and Exchange Commission (SEC) case against Ripple claiming the tokens are securities. Classification as a commodity could mean Ripple wins the case – which some traders may consider bullish for XRP.