How it started, ripple a digital payment firm has been in court for two years with the Security Exchange Commission (SEC), this has been one of the longest court hearings in the crypto space with several court-filed orders, the crypto firm was charged by the SEC for registering an unauthorized sales that raised over $1.3 billion involving U.S based citizens, for SEC XRP is considered a security token that needs to properly follow due process before it undergoes any sales of an asset listed as securities.
The crypto firm has reiterated its token is just an electronic digital money which the SEC has perpetually affected its investors outside the US region to lose profit over the years due to its prolonged court case that seems to have no end.
Both sides have provided valid proof to back their claims, the case has been ongoing since December 2020 with Ripple being on the losing end, for years, the price of XRP has struggled to maintain its price peg several exchanges have delisted the token from their exchange in fear of what might happen next despise these prolonged court case XRP has maintained its list of top ten traded token by market capitalization.
.jpeg)
A happy ending
From coinmarketcap data shown in the past 7 days, XRP rose over 30% following claims of ending trial in favor of the crypto firm. Ripple CEO Brad Garlinghouse broke the news of the likelihood of the case coming to an end with both trials favoring both parties.
Ripple and the SEC have filed motions for summary judgment in the $1.3 billion lawsuit, each seeking to dismiss the lawsuit before trial and asking the judge to rule in their favor.
source
XRP before the lawsuit was leading Ethereum by market capitalization being second on coin market list following bitcoin by trading volume, the question here is can XRP reclaim its former position as the second top flipping Ethereum, tether USDT, USDC, and BNB? that would be a matter of how considering how popular Ethereum has become on the second-ranking list by trading volume.
~~~ embed:1575468981888196609 twitter metadata:Q2FyZXlNbzk3OTgzMjU4fHxodHRwczovL3R3aXR0ZXIuY29tL0NhcmV5TW85Nzk4MzI1OC9zdGF0dXMvMTU3NTQ2ODk4MTg4ODE5NjYwOXw= ~~~
The rewards earned on this comment will go directly to the people( @mccoy02 ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
So is the case closed and who won??