XRP Price Explodes Over 70% as Judge Rules In Favor of Ripple in SEC Case

The price of Ripple’s XRP has exploded minutes following reports that a judge has ruled in favor of Ripple in the case against the Securities and Exchange Commission of the United States.

• According to reports, a Judge has ruled that Ripple’s secondary sale of XRP doesn’t constitute an offer of investment contracts.
• This seems to be a major win for the company, as the case has been ongoing for more than three years.
• According to data by CoinGecko, XRP’s price exploded by approximately 15% immediately after the news broke out and over 70% in the following hours, reaching a 24-hour high of $0.86 (as of writing these lines).

• The move marks a major legal victory for Ripple and a slam for the US SEC, which was unable to establish that the sales of XRP constituted an investment contract.
• XRP investors have taken the news incredibly positively, as the cryptocurrency has soared immediately since the news broke out.
• It has now entered the top 5 largest cryptocurrencies by means of total market capitalization and continues trending higher.