of Ripple With a new development in the litigation between its two executives and the SEC XRP The price started to move differently from the general cryptocurrency market.
Analisa Torres, a judge of the United States District Court for the Southern District of New York, had decided to allow the company to make a “fair notice defense.”
In other words, Ripple can claim that the SEC did not give them any warning that the company might be breaking US law.
As previously known, Ripple was arguing that it consulted the SEC prior to the sale of the token.
XRP Price Splits From The General Cryptocurrency Market
With the latest development altcoin The Ripple community, feeling that it has gained an advantage over the SEC, has welcomed the developments. Speaking about the development, attorney Jeremy Hogan said:
“The SEC’s request that Ripple’s fair notice defense was invalid was dismissed by the court. This is the news I’ve been waiting for for a long time. Now the SEC has something to lose!”
BOOM! (And I don’t use that term lightly)
The SEC’s Motion to Strike the Fair Notice Defense is DENIED.
This is the one I’ve been waiting for.
NOW the SEC has something to lose. https://t.co/LcRpWysixn
— Jeremy Hogan (@attorneyjeremy1) March 11, 2022
After this development in the course of the case, the price of the altcoin rose sharply overnight.
In addition, XRP is the world’s largest by market cap after a long hiatus. crypto coins re-entered (excluding stablecoins).
However, Ripple CEO Brad Garlinghouse described the latest development as a great victory for the company. However, it should be noted that the legal process is still ongoing.
Ripple climbed as high as $0.84 but declined from there. At the time of this writing, the price of the altcoin is trading at $ 0.78, with an increase of 6.32% in the last 24 hours.
*Not investment advice.