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XRP Surges Over 90% After Favorable Ruling in SEC Court Battle

XRP Surges Over 90% Following Partial Verdict in SEC Court Battle

Key Points:

  • XRP token surged over 90% on July 13, reaching a new yearly high of $0.90 after a favorable partial verdict in the SEC court battle.
  • The trading volume of XRP tokens on South Korean exchange Upbit surpassed that of Bitcoin in the past 24 hours, with $2.6 billion in trading volume for the XRP/KRW pair.
  • XRP accounted for 46% of all trading volume on Upbit, leading the bullish momentum in the market and helping other altcoins rise.
  • XRP price saw a 92% surge, reaching a new one-year high of $0.91, and climbed to fourth place in market cap ranking.
  • Judge Torres ruled that XRP is not a security, providing relief for the XRP community and leading to plans for relisting on crypto exchanges.
  • The ruling is only partial and may not set a precedent, and the SEC may appeal against the judgment, according to lawyer Stephen Palley.

Hot Take:

The XRP token’s surge following the partial verdict in the SEC court battle is a major win for the XRP community. With the court ruling that XRP is not a security, there is hope for the token’s relisting on major exchanges. However, it’s important to note that this victory is only partial, and the SEC may still appeal the judgment. Nevertheless, this moment marks a significant milestone for XRP and showcases its potential in the crypto market.

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