A price surge of 30% is a big deal for a crypto asset, but Ripple (XRP) has at one point shown a weekly price jump of around 64%. It indicates where the native coin will be after the XRP lawsuit judgment comes. The outcome of the case will have a significant impact on how the future crypto asset sector will be regulated. It will also give a clear picture and remove the ambiguities associated with the cryptocurrency trade. In the long run, it will benefit the entire crypto ecosystem enormously.
Ripple (XRP) Anticipates Landmark Judgement In SEC Lawsuit
The long-running legal battle between the Ripple (XRP) versus the SEC case is finally reaching its logical conclusion. The third parties can file their motions on December 9, while the deadline to oppose these motions has been set as December 22. SEC and Ripple have filed motions for a summary judgment in the lawsuit. Various stakeholders in the crypto industry will closely look at the decision.
Ripple (XRP) -A Security Or Not
The judgment will clarify the vexed question of what a crypto asset is- Is it an asset or security? There has been increasing regulatory pressure on crypto assets which goes against the very principle of decentralized finance working on a blockchain framework.
The bone of contention is whether XRP tokens can be considered securities. Influencer Ben Armstrong opines that an official acknowledgment that XRP is not secure will have a far-reaching impact on the crypto ecosystem.
“The Ripple-SEC case is over. XRP is not a security. Once the formality of making this official happens, it will be tough for the SEC to accuse any coin of being a security. This is going to be HUGE for crypto.”
Amidst the buzz that Ripple (XRP) will get a favorable verdict in its legal battle with SEC, the values of XRP have been surging massively, and as of writing, XRP stands at $0.4877 according to price tracking platform CoinMarketCap. If the XRP lawsuit judgment comes in favor of Ripple, the altcoin’s price stands a chance to rise massively.