XRP Price Surges By 80% As US Judge Rules XRP Not A Security
After more than two years of back-and-forth legal battles, Ripple has emerged victorious in its dispute with the Securities and Exchange Commission (SEC). A US judge has officially ruled that XRP is not a security, putting an end to the ongoing lawsuit between the two parties. The news has had a positive impact on the price of XRP, with the cryptocurrency surging by 80% following the announcement.
The ongoing legal dispute had a significant impact on XRP’s price and discouraged retail investors. However, the latest news has turned out to be a big win for the XRP community and the crypto community as a whole. According to CoinMarketCap data, XRP went up from a 24-hour low of $0.4680 to its highest price of $0.9382, and at press time, the coin was trading at $0.8771, with the trajectory and likelihood of the coin surging even more.
This ruling is significant for Ripple and the entire cryptocurrency industry, as it provides clarity on the regulatory status of XRP. Many in the industry had been waiting for this ruling, and it could lead to increased adoption of XRP and other cryptocurrencies.
While the ongoing lawsuit had a negative impact on XRP’s price and discouraged retail investors, Ripple’s victory in the case has put those concerns to rest. The ruling could also lead to other cryptocurrencies receiving regulatory clarity, which could be a positive development for the industry as a whole.
