Why the Price of XRP Is Rising Today
Over the past 24 hours, the price of the cryptocurrency XRP (CRYPTO: XRP) traded more than 12% higher as of 11:17 a.m. ET today after Ripple Labs, the company behind XRP, looked to be on the verge of winning a long-standing court battle.
In 2020, the Securities and Exchange Commission (SEC) sued Ripple Labs for not registering XRP as a security. The SEC also claimed the founders of Ripple and XRP did not provide the proper disclosure.
The court case is being closely watched by the crypto community because there has been an ongoing debate over whether cryptocurrencies should be regulated as securities by the SEC, which would likely subject them to more strict enforcement.
Source Fool.com
