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Cryptocurrency Ecosystem => XRP - Ripple Forum => Other Popular Cryptos / Coins => Ripple News & Updates => Topic started by: Sharpmax on May 31, 2021, 11:45:22 PM
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XRP's price has passed $1 after increasing by 12% during the last 24 hours. The move up is part of a wider increase for the cryptocurrency, which has risen by 26% during the last seven days.
Today’s price % surge comes hot on the heels of a legal win for Ripple in its ongoing court battle with the U.S. Securities and Exchange Commission. Ripple successfully prevented the SEC from accessing certain legal records—documents that detailed legal advice the firm sought or received about XRP’s status as a security.
Ripple’s ongoing feud with the SEC
Ripple has been embroiled in a court case with the SEC ever since the regulatory body sued the firm in December of last year, claiming that Ripple sold $1.3 billion worth of XRP in ongoing unregistered securities offerings. Ripple has consistently denied the SEC’s allegations, and in recent weeks has scored a number of victories in court against the regulator.
In April, Ripple was successful in a discovery motion that forced the SEC to reveal documents related to its internal thinking on cryptocurrencies like Bitcoin. Days later, Ripple scored another win, when the court ruled Ripple did not have to hand over financial records belonging to CEO Brad Garlinghouse. Source (https://cryptonews.net/729765/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)