- Ripple won against the SEC in a final ruling by Judge Analisa Torres.
- XRP skyrocketed overnight and is currently trading at $0.81, a 24-hour pump of 73%.
- Coinbase has relisted XRP on its trading platform following the Ripple win.
The euphoria surrounding Ripple’s victory against the US Securities and Exchange Commission (SEC) is boosting the entirety of the crypto industry. Specifically, Judge Analisa Torres ruled that XRP is not a security.
A couple of hours after the ruling, XRP skyrocketed to almost $1 before simmering at $0.81, according to CoinGecko. Previously, XRP was sitting idly at $0.47.
XRP/USDT 1-hour chart (source: TradingView)
To take part in the celebration, embattled Coinbase also relisted XRP, citing that Ripple’s victory ignites further hope in the crypto industry. At the same time, the ruling helps push the agenda of providing regulatory clarity for the crypto space in the US.
For the SEC’s part, the securities watchdog is reviewing the ruling. The agency is also looking for an appeal if there are substantial grounds for such.
Now that Ripple has achieved its much-awaited victory after fighting the SEC and expending hundreds of millions of dollars in legal costs, the crypto space’s attention is now directed toward Coinbase and Binance.
Specifically, the mentioned crypto exchanges are still in a legal battle with the SEC, and it may take years for the lawsuits to get a ruling.
Read Also :
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
