Has Ripple (XRP) Already Won The Long Fought Lawsuit Against SEC?

Anvesh Reddy
September 25, 2022
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Going by the current market standards in cryptocurrencies, a price jump by 30% is by all means a big deal. Ripple (XRP) has at one point shown a weekly price jump of around 64%. This is a clear sign of what the market thinks would result when the XRP lawsuit judgement comes. The regulatory scope of this case goes beyond just XRP, for it could benefit the entire crypto ecosystem massively.

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Ripple (XRP) Awaits Judgement In SEC Lawsuit

The final judgement in the long fought Ripple Vs SEC case is finally in touching distance. It is on December 9 by which date third parties can file motions. Whereas the deadline for opposing these motions would be December 22. Recently, SEC and Ripple have filed their motions for summary judgement in the lawsuit. The judgement will be closely looked at by various stakeholders in the crypto industry.

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‘Not A Security’

This is all the more important in the context of increasing regulatory pressure around the crypto assets. The lawsuit’s outcome is expected to give clarity over digital assets. The primary issue in the case is whether XRP can be considered as securities or not. In this context, influencer Ben Armstrong feels XRP is not a security. He said the official announcement that XRP is not a security will mean a lot for the crypto ecosystem.

“For all intents and purposes, the Ripple-SEC case is over. XRP is not a security. Once the formality of making this official happens, it’s going to make it very difficult for the SEC to accuse any coin of being a security. This is going to be HUGE for crypto.”

In the midst of speculation that the ruling would be in favor of XRP, the altcoin’s price jumped massively. As of writing, XRP price stands at $0.4922, up 5.46% in the last 24 hours, according to price tracking platform CoinMarketCap. If the XRP lawsuit judgement comes in favor of Ripple, the altcoin’s price stands a chance to rise massively.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.