Written in CRYPTO he
You’re thinking about buy some cryptocurrency and you think that Bitcoin is the best option?, surely you will be interested in knowing that some cryptocurrencies have risen in value much faster than the most popular virtual assets, one of them is known as XRP.
He worth of the XRP cryptocurrency up 10% after a ruling in favor of Ripple and in this note we tell you the details about the lawsuit against this cryptocurrency that favored him by making it possible increase in great percentage his worth in just 24 hours.
Why did the value of the XRP cryptocurrency increase?
Let us remember that the problems XRP began in December 2020, when the US Securities Exchange Commission (SEC) sued Ripple Labs, Inc., and two of its executives, alleging that they had violated federal securities laws when they sold XRP to investors without first registering it as a security worth.
Since then Ripple and its executives had denied the accusations stating that XRP It was not a security, but a commodity, in addition to ensuring that the SEC did not have enough evidence to support its accusation. Well, on Tuesday, May 16, the authorities determined that the SEC could not seal documents with a past speech by William Hinman (former official of Ripple), where he mentioned that ether (ETH), which is the second largest cryptocurrency in the world, was not a security.
This speech could be a key to the defense of Rippleand the ruling by the authorities, in addition to being a partial victory for the company, also helped to XRP increased its value by 10% in the last hours, reaching almost 0.46 dollars, reflecting that investors are optimistic about the possibilities that Ripple win the case.
Why is the result of this lawsuit important for the cryptocurrency sector?
Community crypto is awaiting the conclusion of this lawsuit because the result could have a great impact on the sector of the cryptocurrenciessince if the SEC wins the case, a precedent would be generated that would hinder the operation of other crypto companies in the US.
However, if Ripple wins would be one more step to legitimize this sector and thus facilitate the operation of companies crypto in United States.
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