XRP Surges Following Strong Progress In SEC Law Suit

XRP has risen by over 23% in the past seven days on the expectation that the Securities and Exchange Commission's lawsuit against Ripple Labs will soon be resolved in the company's favor. As the crypto community anticipates a decision supporting XRP, optimism surrounding the case caused the coin to jump to $0.501 before returning to around $0.47 at press time.

  • Crypto community anticipates a court decision supporting XRP against the SEC.
  • New advancements in the lawsuit have increased hopes of a timely decision.
  • Both the SEC and Ripple agreed that the court should rule on the case based on the available facts and evidence instead of going to trial.

The SEC filed a case against Ripple Labs in December 2020, which many in the cryptocurrency world believe will set a precedent for the entire industry. The lawsuit questions whether or not XRP is a security. Initially launched in 2013, XRP is the native cryptocurrency on the Ripple network. The coin aims to work as …

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