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Crypto

Ripple Wins SEC Lawsuit, XRP Price Surges 26%

Guavy AI Editorial Team
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XRP
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Ripple's lawsuit with the SEC has been making headlines for three years, but it seems to be wrapping up. The New York federal judge is close to ending the case, and Ripple's bigwigs are calling this a 'win' for the industry.

The news sent XRP's price skyrocketing, jumping 26% in minutes to $0.63. This erased most of its losses from the recent crypto slump, with CoinMarketCap data backing up the claim.

Ripple was ordered to cough up $125 million in civil penalties and can't break U.S. securities laws anymore as part of the SEC's case against them.

Crypto lawyer Fred Rispoli tweeted that it's a 'HUGE win for Ripple' and noted that they made back the fine amount in minutes from XRP's price jump.

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