On Thursday, a New York court ruled that Ripple’s sale of XRP tokens on exchanges and through algorithms did not constitute investment contracts. Following the news, XRP prices skyrocket within minutes, churning more than 30%.
Victory for Ripple Labs and XRP Token Holders
Following reports of a judge ruling in favor of Ripple in its case against the U.S. Securities and Exchange Commission (SEC), the price of Ripple’s XRP surged by as much as 16% within minutes. The judge’s ruling stated that Ripple’s sale of XRP does not qualify as an offer of investment contracts. This marks a significant victory for the company after the case’s three-year duration. Meanwhile, MEXC saw an immediate 16% price increase for XRP, followed by an additional 30% surge in the subsequent hour.
This legal triumph represents a major milestone for Ripple while posing a setback for the SEC, as the commission failed to establish that the sales of XRP constituted investment contracts. The news has been received with great enthusiasm by XRP holders, leading to a significant surge in the cryptocurrency’s value. As a result, XRP has now entered the top five cryptocurrencies in terms of total market capitalization and continues to trend higher.
Here are the details following the court documents:
“Defendants’ motion for summary judgment is GRANTED as to the Programmatic Sales, the Other Distributions, and Larsen’s and Garlinghouse’s sales, and DENIED as to the Institutional Sales.”
XRP Token Current Price
At the time of writing, XRP is trading at $0.6336. It is currently looking at a 34% growth with a fully diluted market cap of $61,325,740,626. Furthermore, it took over the number 5 spot on CoinMarketCap following the total trading volume.
Where to buy XRP Token
You can find XRP Tokens here at MEXC! Get yours immediately!
How to buy XRP Tokens on MEXC
You can buy XRP Tokens on MEXC by following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “XRP” using the search bar to see the available trading pairs. Take XRP/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of XRP you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy XRP] to confirm your order. You will find the purchased XRP in your Spot Wallet.
You can find a detailed guide on how to buy XRP Tokens here.
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