Why XRP (Ripple) Is Soaring Today
XRP (CRYPTO: XRP) was flying higher on Wednesday. The cryptocurrency was up 10.97% as of 3:45 p.m. ET. The rise comes as the S 500 (SNPINDEX: ^GSPC) gained 1.92% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 2.51%, as of the time of writing.
XRP is gaining as a key legal deadline arrives. Jan. 15 is the final day for the SEC to decide whether to move forward with its case against Ripple, the company behind XRP.
It was revealed today that the SEC will indeed move forward with its case against XRP. A judge ruled in 2023 that the SEC's allegations of XRP being sold as an "unregistered security" were unfounded. The SEC is now appealing the decision. Some spectators believed that given the upcoming change in leadership, the SEC would not move forward and skip its Jan. 15 deadline.
Source Fool.com
