Why is Cardano price up today?

Cardano's price has risen dramatically as traders see its potential to circumvent SEC regulatory threats based on recent win from Ripple.

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Cardano (ADA) price has soared in the past 24 hours as traders assess the impact of Ripple's legal victory on the broader cryptocurrency market.

"ADA is not a security"

On July 14, the price of ADA rose 6% to $0.379, its highest level in over a month, to offset some of these gains as traders took profits .

Nevertheless, ADA/USD is up around 20% over a 24-hour period, boosted by the euphoria of Ripple's court victory against the United States Securities and Exchange Commission (SEC).< /p>

Daily ADA/USD price chart. Source: TradingView

Notably, a federal judge ruled on July 13 that sales of XRP (XRP) on public crypto exchanges comply with US securities laws. The ruling provided fodder for cryptocurrencies — which the SEC had accused of being securities — to defend themselves in court.

Related: XRP Deems 'Minute Moment' But We're Not Off the Hook Yet - Lawyers

ADA is one such cryptocurrency; it fell 45% in June after the SEC deemed it collateral in its lawsuits against crypto exchanges Binance and Coinbase. But now the Cardano token has wiped out almost all of those losses.

If $XRP is not a security...$ETH is not a security$BNB is not a security