Ripple Secures New Victory in XRP Lawsuit Against SEC
Ripple, the San Francisco-based blockchain firm known for its XRP-powered cross-border payment services, has won a major legal battle against the U.S. Securities and Exchange Commission (SEC). The SEC filed a lawsuit against Ripple in December 2020 over $1.2 billion worth of alleged unregistered security sales of XRP.
In the latest development, a U.S. court ruled in favour of Ripple Labs, XRP II LLC, and CEO Brad Garlinghouse. Judge Phyllis Hamilton granted Ripple’s motion for a final judgement on certain class claims, narrowing the scope of the case and scheduling a trial for January 2025. This is a significant win for Ripple in its prolonged legal battle over securities sales.
Cardano Founder Praises Ripple CEO
Recently, Charles Hoskinson, the founder of Cardano, praised Ripple CEO Brad Garlinghouse, calling him a great CEO after a friendly and collaborative conversation.
Garlinghouse responded by thanking Hoskinson, emphasizing the need for the crypto community to work together for a better future.
Ripple in the Stablecoin Sector
This year, Ripple entered the stablecoin business with the launch of its RLUSD stablecoin, currently available on the Ethereum blockchain. However, it’s not yet publicly issued, as Ripple is awaiting regulatory approval.
XRP Price Action
Currently, XRP is trading at $0.73, showing a 30% increase over the past seven days.
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