The price of Ripple’s XRP has exploded minutes following reports that a judge has ruled in favor of Ripple in the case against the Securities and Exchange Commission of the United States.
- According to reports, a Judge has ruled that Ripple’s sale of XRP doesn’t constitute an offer of investment contracts.
- This seems to be a major win for the company, as the case has been ongoing for more than three years.
- According to data by CoinGecko, XRP’s price exploded by approximately 15% immediately after the news broke out and over 70% in the following hours, reaching a 24-hour high of $0.86 (as of writing these lines).
- The move marks a major legal victory for Ripple and a slam for the US SEC, which was unable to establish that the sales of XRP constituted an investment contract.
- XRP investors have taken the news incredibly positively, as the cryptocurrency has soared immediately since the news broke out.
- It has now entered the top 5 largest cryptocurrencies by means of total market capitalization and continues trending higher.
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Source: https://cryptopotato.com/xrp-price-explodes-16-as-judge-rules-in-favor-of-ripple-in-sec-case/