Ripple continues its upward journey and achieving high levels, which have been absent from the currency for years.
The currency rose with the rise in Bitcoin, reaching the level of $ 1.7, a rise of 24% in the last 24 hours.
It seems that the rise in the price of the digital currency XRP is fed by the positive momentum about the currency and the Ripple Company, which was able to turn the ruling in its favor regarding forcing the SEC not to disclose the financial data to its founders and executives.
Ripple wins its case against "Tetragon":
A court in the US state of Delaware ruled that Ripple will be charged $ 3.463 million in legal fees by the British investment company, "Tetragon Financial Group", after the latter's legal defeat.
As a reminder, we previously discussed in Arab Bitcoin about Tetragon filing a lawsuit against Ripple, demanding compensation for the amount invested in it, after the SEC filed a case against Ripple.
Tetragon is the same investment company that led the massive C-Series Ripple financing round in 2019.
Tetragon's relationship with Ripple was strained after the US Securities and Exchange Commission (SEC) filed a lawsuit against it in December 2020.
In the lawsuit filed by "Tetragon" company, in which it demanded that the company, Ripple, recover its shares of $ 175 million and temporarily freeze the company's assets, a step the defendant described as "opportunistic".
The judge went to rule against “Tetragon” because the case relates indirectly to the ruling, which has not yet determined whether Ripple is a cryptocurrency or a guarantee currency.