Ripple Latest News, Ripple Price, and Forecast Summary Related to Recent SEC Ruling!!
On Friday at 00:36, breaking news about Ripple (XRP) was reported.
According to foreign news, Ripple (XRP) was reported not to fall under a sales investment contract by a U.S. court.
Cryptocurrency news Twitter accounts also announced that a U.S. court judge ruled that Ripple's XRP sales do not qualify as an investment contract.
Please note that these announcements were not official, but later, an official ruling from a U.S. court stated that Ripple's secondary market sales of XRP are not considered securities.
It seems that these announcements have been perceived as a victory for Ripple (XRP) by investors.
As per Binance, Ripple (XRP) recorded an increase of over 68% and is currently trading at 0.74$.
It has received strong support with a 56% increase compared to the pre-surge position.
After the SEC and Ripple (XRP) ruling
Tron (TRX) founder, Justin Sun, posted on his Twitter that the court's informal ruling today regarding Ripple (XRP) is a significant victory for the cryptocurrency community. He extended congratulations to the XRP community and Ripple team, stating that the legal battle between XRP and the U.S. Securities and Exchange Commission (SEC) is linked to the recovery of the entire cryptocurrency industry.
Other exchange and cryptocurrency founders also expressed support for Ripple (XRP) and its rise through Twitter posts.
In response to the court ruling that Ripple (XRP) is not a security, Ripple announced that it is considering the relisting of XRP spot and derivative products.
Following Ripple's announcement, many exchanges announced the resumption of Ripple (XRP) trading or that they are reviewing the possibility.
Gemini Exchange, which delisted XRP in December 2020, is considering relisting it.
Coinbase, the largest U.S. cryptocurrency exchange, stated on its official Twitter that it plans to reactivate Ripple (XRP) after the SEC filed a lawsuit against it in January 2021.
Kraken Exchange, which also delisted Ripple (XRP) in January 2021, announced its plan to relist XRP on its official website.
Crypto.com officially announced the listing of Ripple (XRP) on its mobile app through its official Twitter.
Binance US also announced the listing of Ripple (XRP) on its USDT market.
Global cryptocurrency firm BitGo also announced that it will resume support for Ripple (XRP).
Summary of the SEC and Ripple (XRP) ruling by the U.S. court
The ruling dismissed some of the claims made by the U.S. Securities and Exchange Commission (SEC), but it cannot be regarded as a definitive victory for Ripple (XRP) in the SEC lawsuit.
The court concluded that Ripple's programmable (exchange and algorithm-based) XRP sales do not fall under investment contracts or securities sales.
The ruling also suggests that other issues between the SEC and Ripple (XRP) will be addressed in the future formal trial.
According to Deblock, a cryptocurrency media outlet, the SEC is leaving the possibility of appeal open after partially losing the case against Ripple (XRP).
According to CoinGecko data, the 24-hour trading volume for XRP on Upbit was approximately $2.1 billion, making it the top-traded cryptocurrency on exchanges worldwide.
This data indicates the significant interest in Ripple among Korean investors, contributing to its price surge.
According to a survey conducted by Coinness and Kratos on the 16th, Ripple (XRP) was also among the most anticipated cryptocurrencies by domestic cryptocurrency investors.
Expectations are high for a full-fledged victory announcement for Ripple (XRP), which may lead to further increases and potentially impact the rise of other cryptocurrencies.