XRP sees a sharp price surge, hitting $0.80, following a partial win in its legal battle against SECGov
As reported by U.Today, the token experienced a major price surge in the wake of a landmark court decision involving Ripple Labs, the company associated with the XRP token. A judge ruled institutional sales by Ripple as securities but did not classify all other sales similarly, a verdict seen as a significant win for Ripple Labs and its digital token.
In the following days, the market cap and volume experienced some fluctuations as the market was trying to digest the ruling. Even with this recent increase, XRP remains significantly down from its all-time high of $3.40, reached in January 2018.This mixed verdict in favor of Ripple has had a noticeable impact on the market, given the significant uncertainty that the SEC lawsuit had previously cast on XRP's future. The court's decision not to classify all sales of XRP as securities avoided a potentially damaging outcome for Ripple Labs and provided a boost of confidence to investors.
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