- 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.
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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.
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