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XRP Cryptocurrency Price SEC case 2023: XRP got a historic victory in the world of cryptocurrencies. Under this, a US judge ruled on Thursday that Ripple Labs Incarnation did not violate federal securities laws by selling its XRP tokens on public exchanges.
Ripple Lab’s Victory in Court Over XRP Cryptocurrency in the SEC Case, and XRP Price Become Skyrocket
Since the arrival of this decision, XRP has seen an increase of more than 75%. The initial price of XRP increased from $0.47 to $0.87. US District Judge Analisa Torres presided over the case for the ruling. Her decision was the first victory for cryptocurrency in the cases brought by the US Securities and Exchange Commission.
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SEC’s reaction to this decision
On this, the SEC spokesperson said that he is happy with the decision of the court. In which the court believes that Ripple has violated federal securities law by selling XRP directly to sophisticated investors. Along with this, when the final decision comes, then only after that an appeal can be made against the decision. SEC spokesperson said that we are reviewing the regulatory decision.
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Ripple’s reaction to this decision
Brad Garlinghouse, Ripple’s chief executive, said in an interview that this is a huge win for Ripple, and it’s also a big win for cryptocurrencies in the US.
What COIN.O said about the XRP Case 2023
Along with this (COIN.O) is one of the largest cryptocurrency exchanges in America. It said it would again allow XRP trading on its platform.
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A jump was seen in the share price of Coinbase
Coinbase CEO Paul Grewal said on social media that we have read and reviewed the court’s thoughtful decision. And after that, we’ve decided it’s time to re-list. Simultaneously, Coinbase’s stock closed at $107 on Thursday, up over 24%.
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