Cryptocurrency XRP grew by more than 60% per day

The XRP cryptocurrency reacted to a key decision in a multi-year lawsuit between the U.S. Securities and Exchange Commission (SEC) and blockchain company Ripple Labs. XRP was not recognized as a security, which sent the digital asset up 67.5%.

The judge ruled that neither sales nor other forms of token distribution, as well as sales of XRP tokens to private investors, are equivalent to investment contract transactions, meaning that tokens are not recognized as securities. This means that such transactions do not include the ownership of tokens, their placement on exchanges, payment and other retail transactions.

The XRP token reacted with an immediate price increase, and other cryptocurrencies began to rise after it. As a result, bitcoin reached a new annual high of $ 31,600, while ethereum reached $ 2009.

The main US exchange regulator has been suing Ripple for several years. on December 22, 2020, the agency accused the platform of selling $ 1.3 billion worth of unregistered securities under the guise of XRP tokens. Over the past years, the SEC’s case against Ripple has become one of the most important in the crypto industry, and its final outcome could have serious consequences for the rules of circulation of digital assets in the United States. The judge’s decision is not yet final, the case will continue to be considered in court, and the SEC may appeal.