{"id":483224,"date":"2022-02-09T14:00:40","date_gmt":"2022-02-09T14:00:40","guid":{"rendered":"https:\/\/wncen.com\/?p=483224"},"modified":"2022-02-09T13:13:14","modified_gmt":"2022-02-09T13:13:14","slug":"xrp-price-surges-is-ripple-winning-the-fight-against-sec","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/xrp-price-surges-is-ripple-winning-the-fight-against-sec\/","title":{"rendered":"XRP Price Surges – Is Ripple Winning The Fight Against SEC?"},"content":{"rendered":"
Ripple, a Fintech company, makes substantial headway in its legal fight with the U.S. Securities and Exchange Commission. The XRP (the world’s seventh-largest cryptocurrency) issue will be resolved soon, according to CEO Brad Garlinghouse, who is optimistic about the case’s conclusion date.<\/p>\n
XRP continued a week-long surge in the market today that began after a judge in an ongoing legal tussle between Ripple and the SEC made beneficial rulings for Ripple.<\/p>\n
Judge Analisa Torres said late last week that she would authorize the release of certain documents related to the dispute, which has been ongoing for over a year and concerns how the XRP cryptocurrency was sold.<\/p>\n
SEC Vs. Ripple<\/strong><\/h2>\n
A lawsuit filed almost two years ago might determine the destiny of Ripple.<\/p>\n
The SEC filed a lawsuit against Ripple and two of its executives on December 22, 2020. They allegedly traded $1.3 billion of their cryptocurrency XRP as security without informing the SEC.<\/p>\n
They point to its funding of Ripple and assert that the company’s platform is not decentralized. Ripple has since argued that the SEC’s decision is biased.<\/p>\n
In a civil case filed at the end of December, the SEC contended that XRP is a security since it is needed to sustain Ripple’s infrastructure, which enables merchants to conduct financial transactions. Because of the XRP sales, the platform’s administration was also well-funded.<\/p>\n