Why Ripple's XRP Token Is Surging Over 5% Today?
Portfolio Pulse from Mehab Qureshi
A federal judge has denied the Securities and Exchange Commission’s (SEC) attempt to appeal its loss against Ripple (CRYPTO: XRP), causing XRP's price to surge 5%. The SEC had accused Ripple of conducting an unregistered securities offering worth approximately $1.3 billion by selling XRP tokens. A trial date has been set for April 2024 to address unresolved matters.
October 04, 2023 | 3:53 am
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The denial of the SEC's appeal against Ripple has led to a 5% surge in the price of XRP. The ongoing legal battle could continue to influence the price of XRP.
The news of the SEC's failed appeal against Ripple is directly related to XRP, as Ripple is the creator of the XRP token. This news is seen as a positive development for Ripple, leading to increased investor confidence and a surge in the price of XRP. However, the ongoing legal battle and the potential for future appeals by the SEC could continue to create volatility in the price of XRP.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100