XRP Up 10% After A Crucial Update In The Legal Battle.

The price of XRP has begun to move on its own as a major development in the legal battle between payment firm Ripple vs the United States Securities and Exchange Commission (SEC) occurs.

XRP

In other words, Ripple will be able to argue that the regulator failed to notify it that XRP and his public sails would violate US law. According to Bitcoinist, the payment business has contacted the SEC about its token sale.

However, the company claims the fails to provide regulatory clarity regarding XRP. There are records of two different assessments from law firm Perkins Coie on the legality of the company’s token issuance that support Ripple’s position.

The reports seek to indicate that Ripple seeks legal guidance before to sales as far back as 2021. The report might potentially be used to show that Ripple adjusted its business strategy in order to comply with US laws. Ripple’s General Counselor, Stuart Alderoy, announced the following in response to today’s court decision:

“Today’s order makes it clear there’s a serious question whether the SEC ever provided Ripple with fair notice that its distributions of XRP – since 2013 – would ever be prohibited under the securities law. Good to see the Judge rejecting the SEC’s attempt to prevent Ripple from pursuing its fair notice defense. It’s even more imperative that the sun sets on the SEC’s “regulation by enforcement” approach.”

XRP Up 10% After A Crucial Update In The Legal Battle.

The XRP community has applauded the recent court verdict, believing it would provide them an advantage over the regulator. Jeremy Hogan, a legal expert, has the following to say about this development:

I know you’ve been working on the pending rulings in the Ripple v. SEC case this week.   On behalf of myself and certain other interested parties, we’d really like to get those rulings TODAY if possible (…). BOOM!  (And I don’t use that term lightly) The SEC’s Motion to Strike the Fair Notice Defense is DENIED. This is the one I’ve been waiting for. NOW the SEC has something to lose.

As a result of these recent events, XRP is currently trading on an upswing at lower timeframes. After a lengthy break, the cryptocurrency has suddenly re-entered the top 5 by market valuation. Despite a huge victory, the legal war, according to the aforementioned expert, continues.

As of press time, XRP is trading at $0.80, representing a 9.1% gain in the previous 24 hours. The cryptocurrency was once ranked third in terms of market capitalization, after only BTC and ETH. It remains to be seen if it will restore its position.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Patrick

Coincu News

Victor

Recent Posts

Step into BlockDAG’s Presale Frenzy This November: Secure a Massive 100% Bonus with BDAG100!

November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…

1 hour ago

OpenSea New Version Will Be Launched In December

OpenSea new version is scheduled to launch in December, with an improved user experience, improved…

1 hour ago

Bitcoin Price in 2025 Will Reach $200,000: Bernstein

Analysts at Bernstein predict Bitcoin price in 2025 could reach $200,000, driven by factors like…

2 hours ago

Bitfinex Alpha Predicts Storm Brewing in Crypto Market

The latest report by Bitfinex Alpha: "The Calm Before the Storm," provides insights on the…

3 hours ago

Binance Listing Fees Are Causing Fierce Controversy In The Community

The crypto community is in a heated debate over Binance listing fees and the exchange’s…

3 hours ago

This website uses cookies.