A Big Win for the Crypto Space & Ripple Against the SEC; Bull Market is Here!

Ripple XRP

The post A Big Win for the Crypto Space & Ripple Against the SEC; Bull Market is Here! appeared first on Coinpedia Fintech News

The Summary judgment is Out! Ripple Won the lawsuit against the SEC! XRP is not a security!

Yes, finally, the moment has arrived, which was awaited for more than a year. Today, Judge Analisa Torress ruled out the summary judgment and whitewashed the claim that XRP is a security. This is a very big moment for the entire crypto space as if XRP is not a security, neither BTC nor ETC is!

The judge unequivocally stated that the sales of XRP by Ripple do not constitute an offer of investment contracts. This means that XRP is not considered a security, providing clarity and paving the way for broader adoption. Even though the current ruling is a big win for the company, it is important to note that the lawsuit is not over yet!

While this ruling is a significant step forward, there may be further legal challenges ahead. The final outcome remains uncertain, but the ruling itself is a big milestone. Besides, the native token XRP price quickly gained momentum as the buying volume soared, with a more than 30% jump in the prices. However, it is always better to wait for a correction before jumping on the moving train.

As seen in the above chart, the XRP price exploded immediately after news broke out that the ruling had been produced in favour of the company. The recent pullback below the $0.65 region clearly indicates the presence of bearish dominance at these levels. Hence, a minor correction may be possible to attract liquidity to the platform.

The prevailing buying pressure may continue for a while, which may be further fueled by the token XRP being relisted on US-based exchanges. Now that the lawsuit has turned in favour of the crypto, the regulatory clouds over the space may be waning for a while, which may keep up the bullish momentum of the markets, triggering a fresh bull run very soon.

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