The price for XRP has surged by 10% following what seems to be positive developments in the case between Ripple and the US Securities and Exchange Commission.
Positive news emerged for Ripple (XRP) late last week as the blockchain giant looks to get relisted on US coin exchanges. In a historic SEC lawsuit against Ripple Labs, a judge involved in the discovery process acknowledged XRP’s viability as both a currency and utility. In the same hearing, the SEC admitted that only Ripple and its affiliates are capable of illegally soliciting securities. Could this open the gateway for relisting?
If Ripple successfully argues its native coin is a currency (and not a security), the entire case unravels. It appears that Judge Netburn is nearing that conclusion.