XRP Price Surges – Is Ripple Winning The Fight Against SEC?

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. 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. 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. SEC Vs. Ripple A lawsuit filed almost two years ago might determine the destiny of Ripple. 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. 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. 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. Total XRP market cap at $40....