Ripples XRP Price At $10 Now As Nigh As Ever After Yet Another Landmark Win Against The SEC ⋆ ZyCrypto
The U.S. Securities and Exchange Commission (SEC) has suffered another legal setback in its lawsuit against Ripple Labs, the company behind XRP, the fifth-largest cryptocurrency by market capitalization ($27,847,185,251), according to CoinMarketCap data. In July of this year, Judge Analisa Torres of the U.S. District Court ruled that the sale of XRP did not necessarily constitute an offering of unregistered securities by Ripple Labs, as argued by the SEC in its original lawsuit. Aside from being highly controversial from a regulatory standpoint, the Judge‘s ruling marked a significant victory for Ripple, causing its native token to surge by nearly 80% within hours of the announcement. At that moment, XRP’s market cap increased by over $70 billion due to the excitement generated by the news. Judge Rejects SECs Appeal to Overturn the Ruling This Tuesday, Judge Torres rejected the SECs appeal to overturn her July decision, stating that the previous ruling would create “complicated legal issues” at the regulatory level and thus should be reviewed by a federal appeals court before the case concludes, according to Reuters. However, Judge Torres disagreed, ruling that the SEC had failed to demonstrate that her original decision was sufficiently flawed or problematic. This recent legal setback led to a price increase