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XRP Crypto News: The Latest Lawsuit Victory XRP Fans Should Watch

Ripple (XRP) Crypto News: Why XRP Prices Are Gaining Today
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Members XRP (CCC:XRP-USD) are cheering on the latest developments in the ongoing legal battle between cryptocurrency developers and the US Securities and Exchange Commission (SEC).

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Ripple LabsThe US technology company behind the cryptocurrency XRP is still embroiled in a lawsuit with the Securities and Exchange Commission over allegations that its executives were involved in $1.3 billion in deals in unregistered securities. The legal battle affected the price of XRP, which fell to 18 cents before recovering to now trade at 76 cents. Several cryptocurrency exchanges and trading services have stopped offering XRP while the Securities and Exchange Commission (SEC) lawsuit is making its way through the courts.

However, XRP crypto supporters cheered the latest development in the courtroom drama after a federal judge ruled that the Securities and Exchange Commission should transfer to Ripple a major email that could benefit the crypto developer’s defense.

What Happened With XRP Crypto

Judge Sarah Netburn of the Southern District of New York ruled that the Securities and Exchange Commission should surrender to Ripple an email containing a draft letter from former director William Hinman about whether Ethereum (CCC:ETH-USDLegitimate guarantee. The decision is significant because it opens the door for Ripple to gain access to several SEC documents that the Wall Street regulator has claimed, so far, to be “privileged information” and should not be brought to court as part of the discovery process.

Access to the email and some related notes can help Ripple defend it and provide insights into how the Securities and Exchange Commission and its top leadership view cryptocurrencies and trade in cryptocurrencies and tokens. In its legal proceedings, the Securities and Exchange Commission (SEC) is accusing Ripple employees of selling the cryptocurrency XRP in violation of federal securities law because XRP is not currently classified as a registered security.

why does it matter

The judge ruled in the case against the SEC in favor of Ripple, and the decision provides Ripple’s legal team with access to documents that could shed light on how the regulator thinks about digital currencies and tokens like XRP. Ripple’s lawyers will analyze these documents to obtain information that can help a cryptocurrency developer prevail in court.

The positive legal development is also good news for the price of XRP, which has gone up or down over the past year with every development in the SEC case. Over the past 12 months, the price of XRP fluctuated from 25 cents to $1.96 before settling at its current level of 76 cents. The price of the cryptocurrency has not changed at the time of writing.

What then

The legal saga that became “US vs Ripple” by no means ended. The court battle may continue for many years to come. And while it lasts, the cloud will continue to crash on XRP. But the recent development in the case is clearly tilting in favor and defense of Ripple, which is good news for investors that are bullish on digital assets.

Posted in Joel Bagelol He did not have (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, and are subject to InvestorPlace.com Posting Guidelines.

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