Why the Price of XRP Is Rising Today
Over the last 24 hours, the price of XRP (CRYPTO: XRP), which was developed by the company Ripple Labs, is trading about 10.7% higher as of 10:24 a.m. ET today after receiving a favorable ruling in court.
In 2020, the Securities and Exchange Commission sued Ripple Labs, claiming the company did not properly register XRP as a security when it raised funds in 2013. The SEC also alleged Ripple did not provide adequate disclosure to investors.
In recent weeks, however, the case has taken a favorable turn for Ripple after the company and the SEC both called on the U.S. District Court for the Southern District of New York to make a summary judgment.
Source Fool.com
