Why XRP (Ripple) Rose 10.5% on Friday Morning
The XRP (CRYPTO: XRP) cryptocurrency, often called Ripple, was on a roll Friday morning. The token had gained 10.5% in 24 hours as of 9:30 a.m. ET, boosted by a favorable procedural decision in a long-running lawsuit against the Ripple Labs company.
Judge Analisa Torres of the Southern District Court in New York just allowed Ripple Labs to file a couple of amicus curae (friend of the court) briefs in its defense against complaints by the Securities and Exchange Commission (SEC).
In these filings, two third-party companies will describe how they use XRP for everyday business purposes. Furthermore, these users will note that they don't expect XRP tokens to gain value over time, as you would with investment-grade securities.
Source Fool.com
