Judge decides in the SEC vs. Ripple Labs case: XRP increases by almost 29 % within an hour

Judge decides in the SEC vs. Ripple Labs case: XRP increases by almost 29 % within an hour

XRP records an impressive price increase of almost 29 % in less than an hour after a judge decided against Ripple Labs in the case of the US stock exchange supervision SEC (Securities and Exchange Commission). COINGECKO data show that the XRP price is currently over $ 0.60, compared to about $ 0.47 the previous day.

This development is remarkable because XRP has not been traded over $ 0.60 since May 2022. At that time, the entire cryptocurrency area suffered a market crash that also influenced the price of Ripple. In addition, the ongoing legal examination of the SEC put on the Ripple Prize.

The judge's judgment may have far -reaching effects. He decided that programmatic sales from XRP should not be classified as securities. Institutional sales, on the other hand, qualify the coin as securities. This could lead to a new paradigm in which the way in which a cryptocurrency is sold is decided whether it is considered a securities. The importance of marketing and messages could increase significantly in this context.

Brad Garlinghouse, CEO of Ripple Labs, thanked a tweet for the support and celebrated the judge's decision. He emphasized that Ripple Labs declared in December 2020 to be on the right side of the law and history. The current decision applies not only to the company, but for all crypto innovations in the USA. Garlinghouse also emphasized that further developments can be expected.

Despite the latest price increase, XRP is still around 84 % below its maximum price of $ 3.40 in January 2018. It remains to be seen how the court decision will affect the XRP price and the crypto industry in the long term. In any case, the price increase of XRP was a remarkable event that attracted the attention of the cryptocurrency community.