Cryptocurrency News

XRP Price Explodes Over 70% as Judge Rules In Favor of Ripple in SEC Case XRP, the native cryptocurrency of the Ripple network, has surged by more than 70% in the past 24 hours, reaching its highest level since May. The price spike came after a U.S. judge denied the Securities and Exchange Commission's (SEC) request to access Ripple's legal communications. What is the SEC's lawsuit against Ripple? The SEC filed a lawsuit against Ripple and its executives in December 2020, alleging that they sold $1.3 billion worth of XRP as unregistered securities. Ripple has argued that XRP is not a security, but a digital asset that is used for cross-border payments and remittances. The company also claimed that the SEC did not provide fair notice to the market about its regulatory status. How did the judge rule in favor of Ripple? On June 30, U.S. Magistrate Judge Sarah Netburn denied the SEC's motion to compel Ripple to produce documents related to its legal advice on XRP. The judge ruled that Ripple's communications with its lawyers are protected by attorney-client privilege, and that the SEC failed to show a "substantial need" to access them. The judge also noted that the SEC's request was "overly broad" and "disproportionate". What does this mean for XRP and the crypto market? The judge's ruling is seen as a major victory for Ripple and a setback for the SEC, as it could weaken the agency's case against the company. The ruling also boosted the confidence of XRP investors, who have been waiting for a resolution of the legal dispute. XRP's price jumped from around $0.6 to over $1 in a matter of hours, making it one of the best-performing cryptocurrencies in the market. The rally also lifted other altcoins, such as Stellar, Cardano, and Dogecoin. What are the next steps in the lawsuit? The lawsuit is still ongoing, and both parties are expected to continue their discovery process until August 31. The SEC has also filed a motion to extend the deadline for fact discovery by 60 days, citing the complexity of the case and the need for more time to review documents. Ripple has opposed this motion, arguing that it would cause further harm to its business and customers. The judge has not yet ruled on this motion. Conclusion XRP's price has exploded over 70% as a U.S. judge ruled in favor of Ripple in its lawsuit with the SEC. The ruling denied the SEC's request to access Ripple's legal communications, which are protected by attorney-client privilege. The ruling is seen as a major win for Ripple and a boost for XRP investors, who have been waiting for a positive outcome of the case. The lawsuit is still ongoing, and both parties are expected to continue their discovery process until August 31.

Ripple (XRP) Price Explodes Over 70% as SEC Loses Key Round in Battle

July 14, 2023 Rishika Chawla 3

XRP, the native cryptocurrency of the Ripple network, has surged by more than 70% in the past 24 hours, reaching its highest level since May. […]

XRP Skyrockets 26% Following New York Judge’s Ruling in SEC Lawsuit

Judge rules XRP is not a security in SEC’s case against Ripple

July 14, 2023 James Oliver 1

In a landmark decision, a federal judge has ruled that XRP, the cryptocurrency used by Ripple, is not a security and therefore not subject to […]

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Ripple Scores Major Victory in SEC Case, XRP Not a Security

July 14, 2023 Emma Grace 1

Ripple Labs, the developer of the XRP blockchain, has won a major victory in its legal battle with the US Securities and Exchange Commission (SEC). […]

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July 13, 2023 Reeti Garg 0

Investors have taken notice of Bitcoin, a prominent cryptocurrency. This is due to its favorable financial characteristics such as high return on investment and value […]

Solana’s record-breaking 1 billion inflow: What’s behind the SOL surge?

July 8, 2023 Riya Shalgar 0

Solana (SOL) has been on a tear lately, surging to new all-time highs and becoming the sixth-largest cryptocurrency by market capitalization. The rally has been […]

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Crypto User claims Crypto.com refuses to return $50,000 sent by mistake

July 8, 2023 Willy Harper 1

A cryptocurrency exchange is facing a legal dispute with one of its users who claims he deposited $50,000 into his account by mistake and wants […]

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Bitcoin(BTC) slips below $30K, falls 3%; Is this the end of the rally?

July 7, 2023 Willy Harper 2

The world’s largest cryptocurrency by market capitalization has dropped below the $30,000 mark. The digital asset was trading at $29,876 as of 8:00 a.m. GMT […]

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Crypto Prices: Fantom and ApeCoin face a major setback as they fall 10% in a day

July 7, 2023 William Johnson 1

Fantom (FTM) and ApeCoin, two popular cryptocurrencies, have experienced a significant drop in their prices on July 7, 2023. According to CoinMarketCap, FTM fell by […]

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July 5, 2023 James Oliver 0

Business owners often wonder how to accept Ethereum payments on my website. Because it is a new technology, there are some unknowns about how it […]

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July 5, 2023 Rishika Chawla 0

Goods, like stocks, could be traded on exchanges. The Chicago Mercantile Exchange (CME), New York Mercantile Exchange (NYMEX), and London Metal Exchange (LME) are all […]

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How to Ensure You Have Access to Sufficient Liquidity When Trading Crypto CFDs

July 5, 2023 Reeti Garg 0

Types of Crypto Liquidity While trading any asset, particularly cryptocurrency, liquidity is critical. Decentralized exchanges with lesser liquidity than stock exchanges often use for trading […]

Crypto Price Today: Maker (MKR) and AAE surge 9%: What’s behind the rally?

July 4, 2023 Willy Harper 1

Today, July 4, 2023, two of the most popular decentralized finance (DeFi) tokens, Maker (MKR) and AAE, have surged by 9 % in the past […]

Crypto News: Revolut to Delist Polygon, Solana, and Cardano in the US

July 4, 2023 S Ranjita 2

Revolut, a British financial technology company, has announced that it will delist the cryptocurrency assets Polygon, Solana, and Cardano from its US-based platform. The company […]

Revolutionizing Customer Experience: The Transformative Power of Tokenization

July 3, 2023 Willy Harper 0

In today’s digital era, businesses strive to deliver exceptional customer experiences while ensuring the utmost security for sensitive data. One revolutionary solution that has emerged […]

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Germany Rejects Binance’s Bid for Cryptocurrency Custody License

June 29, 2023 William Johnson 1

The German financial regulator, BaFin, has rejected Binance’s application for a cryptocurrency custody license. This is the latest setback for the world’s largest cryptocurrency exchange, […]

PayPal's Crypto Move: A Dollar-Backed Token for Online Payments

Bitcoin (BTC) Golden Cross Emerges: A Rare and Bullish Signal

June 28, 2023 Sumi Deka 1

A positive signal for Bitcoin (BTC) has emerged on the weekly chart: the golden cross. This occurs when the 50-week moving average (MA) crosses above […]

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Bitcoin Miners Transfer More Coins to Exchanges Than Ever Before

June 28, 2023 Rishika Chawla 0

Bitcoin Miners Transfer More Coins to Exchanges Than Ever Before According to data from CryptoQuant, a blockchain analytics firm, bitcoin miners have been sending unprecedented […]

XRP vs SEC latest: Another Attorney Quits Ripple’s Legal Team in Ongoing SEC Lawsuit

June 27, 2023 James Oliver 0

Kylie Chiseul Kim, one of Ripple Labs’ key defense attorneys in the ongoing lawsuit against the U.S. Securities and Exchange Commission (SEC), has filed a […]

UK Offers Crypto Tax Amnesty to Incentivize Disclosure

A New Era for Bitcoin: SEC Approves First Leveraged Crypto Futures ETF

June 26, 2023 William Johnson 1

The U.S. Securities and Exchange Commission (SEC) has approved the first-ever leveraged Bitcoin futures exchange-traded fund (ETF) to trade on the NYSE Arca. The fund, […]

2 Australians Charged in $5.5 Million Crypto Scam Case, $600K Ferrari Seized

June 25, 2023 James Oliver 0

Sydney, Australia: Two Australian men have been charged with fraud after allegedly running a cryptocurrency scam that defrauded two companies of $5.5 million. The men, […]