April 19, 2024
XRP Curs Ripple

The Ripple company has won the case against the US Securities and Exchange Commission. XRP coin should not be treated as an unregistered security when trading on exchanges. As a result, the price of XRP has exploded and is up more than 35% in the last hour.

XRP Curs Ripple

What happened?

Ripple Labs has won its case against the US Securities and Exchange Commission, which has been raging for almost 3 years. Trading the XRP coin on exchanges and buying/selling the token is not classified as securities trading. Exchange trading would not meet Howey’s criteria for securities trading.

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Investments, grants and transfers between people in the form of XRP are not considered illegal securities trading. However, according to the judge, the institutional sale of the XRP coin is illegal securities trading under US law. Here is the verdict.

How did the price of XRP react to Ripple’s victory?

Ripple’s victory over the SEC triggered a huge price surge. XRP price exploded and gained over 50% in 1 to 2 hours. As of this writing, XRP is trading at $0.73. Prior to the decision, the rate was $0.47.

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XRP price in the last 24 hours, source: Coinmarketcap

Other altcoins were also able to gain slightly in the wake of XRP’s price surge. However, the XRP coin clearly stands out and has seen a horizontal price bar. It will be exciting to see how the market situation develops.

What’s next for Ripple and the XRP course?

The victory against the SEC brings a big sigh of relief, not only for Ripple but also for the entire cryptocurrency market. Now the way to the top is open for the XRP course and these courses of other Altcoins as well.

Many altcoin projects can now hope that their tokens will not be classified as securities under US law. As a result, after the big crash in early June, we could see price explosions in the coming days. The price of Bitcoin could also explode to the upside.

The price of XRP increases

The biggest sigh of relief probably applies to Ripple. Founders Cristian Larsen and Brad Garlinghouse will likely get away with no penalty for now. However, the classification of institutional issuance of XRP currency as a securities exchange still poses a challenge for the future.


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