Hello Friends,
Good day to you all and I hope this weekend is going well for you.
The ripple community must be feeling good after the announcement that the Security and Exchange Commission has concluded the lawsuit case. It's been a few years since this lawsuit case and this has been ongoing continuously because of that the coin did not perform well in the last bulletin cycle. It was expected that XRP would do good but just because of the lawsuit, some US exchanges delisted the coin which affected the growth however it was not delisted by any other exchange outside the US.
This is officially concluded that XRP is not a security and Judge Torres has ordered Ripple to pay a penalty of $125 million as part of the civil penalty. Undoubtedly this is great news for XRP holders and just after this news update the coin price surged in the market. Just after the news update, there was a 17% price increase which is the result of this news update that the case is finally ended. Although it is expected that the Security and Exchange Commission will appeal for this case but looks like its not going to be strong since the Ripple company has won the case already and their side is strong.
The judge ordered Ripple to pay $125 million in civil penalties and agreed to an injunction against future securities law violations, although an appeal by the SEC is expected, potentially extending the legal proceedings.
It can be great news for the entire crypto community also because sooner or later things are going positive in the market and this time when we are anticipating the bull run it can play a good positive role. I'm not an xrp holder but its fun reading search news articles where things are explained about some projects and undoubtedly this is a coin that ranks with top projects. It is also something that needs to be considered that despite the fact the project has gone through a long legal battle but is still the community has been supportive as the coin did not lose much value in the market. It is understood that the coin price did not appreciate whatever was expected due to this lawsuit but we cannot ignore the fact that this also did not lose the value a lot in the market which is worth noting.
Conclusion
Undoubtedly it's a big day for XRP holders as they can now relax and wait for some positive price movement. Maybe the impact is not visible in the market immediately but it is going to happen soon, especially when the bull run starts because a lot of people will be investing in the coin as there is no problem from the legal side on this project. I am also going to explore more about the XRP for detailed information and I have also checked that it is already listed in Indian Crypto exchanges so buying should not be a problem for me when I decide to do this.
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