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XRP would also benefit if this lawsuit ends and if it is no longer the poster child for the SEC's efforts to have more regulatory authority over cryptocurrencies.
The federal agency said it would appeal the decision a little more than one week ... Judge grants SEC leave to appeal Ripple litigation after landmark ruling many saw as huge win for crypto and XRP.
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The defendants agreed to turn over all data involving XRP transactions. [30] In July 2023, the district court ruled on the SEC lawsuit, finding that the XRP token sold by Ripple Labs was not a security. However, if sold in institutional sales, or used as a fundraiser, such actions could be classified as a security in those circumstances.
Ripple Lab's XRP was up over 28% as of 10:15 a.m. ET on Friday. After topping the $1 mark for the first time in three years earlier this week, it reached as high as $1.49 before paring some gains.
The XRP Ledger operates on a consensus protocol that differs from traditional proof-of-work (PoW) and proof-of-stake (PoS) mechanisms. [8] [3] Transactions are validated by a network of independent validators who reach consensus every 3 to 5 seconds, enabling rapid transaction settlement. [8]
XRP was up 75% by late afternoon on Thursday, according to Refinitiv Eikon data. ... The ruling by U.S. District Judge Analisa Torres was the first win for a cryptocurrency company in a case ...
The SEC has faced recent defeats in the case, including an unexpected ruling by Judge Analisa Torres in July that found that Ripple's sale of XRP on exchanges did not constitute an unregistered ...