XRP Surges Over 20% in Less down A Day as Ripple-SEC Lawsuit Reaches Crucial Turning Point

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The digital token XRP has been performing excellently well over the past week, following Ripple’s permission to explain ‘fair notice defense’ against the United States Securities and Exchange Commission (SEC).

Over the last 24 hours, XRP has managed to print over 20% price increase and relatively 39% in less than a week, according to CoinMarketCap. At the time of writing, the cryptocurrency is trading at $0.8582.

This outstanding performance has been attributed to the positive sentiment around the ongoing lawsuit, in which the United States SEC claims that Ripple sold XRP as illegal securities.

Ripple-SEC Lawsuit and XRP Price

XRP buying pressure is seemingly back after a major decision from Judge Analisa Torres, the magistrate that is presiding over the securities case between Ripple and the SEC.

According to court documents, Judge Torres has granted Ripple permission to respond to the SEC’s Memorandum of Law in support of the motion to strike fair notice defense.

Moreover, the Judge ordered to unseal three documents relating to the case between Ripple and the SEC, including Ripple CEO Brad Garlinghouse's email thread and deposition notice and co-founder Chris Larsen's email string.

Judge Torres's orders resulted in a positive trend for XRP in the market. As soon as the order was pronounced, the price of XRP jumped relatively 30% from its 3rd February low of $0.58.

https://timestabloid.com/xrp-surges-over-20-in-less-down-a-day-as-ripple-sec-lawsuit-reaches-crucial-turning-point/