The last 3.5 years have cast a shadow on Ripple and its XRP token, as the SEC filed a lawsuit against Ripple. Tonight there was a historic development on the case, recalling the period between July and August last year.
A historic development in the case of Ripple-SEC
A few minutes ago an important event took place. Judge Torres ruled that XRP transactions on crypto exchanges are not an offering of securities, giving Ripple a partial win.
It seems that the large multi-billion dollar fine proposed by the SEC was not met, as the judge only fined Ripple $125 million. This caused a huge movement in the market.
XRP price online
Immediately after the news, the price of XRP went up. Earlier this week, the price of XRP fell more than 20 percent due to the market-wide crash. But right after this news, the price went up suddenly. At the time of writing, the price is $0.61, which means that the price has increased by more than 20 percent in less than an hour. The volume also rose significantly after the good news.
Many expected such news to push the price above 1 dollar, but that seems to be too much to ask at this time. However, this news is good for XRP. It is important to note that both parties can still apply.
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2024-08-07 20:42:21
#Violation #Judge #rules #XRP #transactions #securities
