The post XRP On The Move To $1 appeared on BitcoinEthereumNews.com.

XRP price has experienced its biggest jump in the last ten days, following in the footsteps of Bitcoin and news surrounding the lawsuit of the Securities and Exchange Commission (SEC) and Ripple Labs’s top executives. The most prominent cross-border money transfer has increased by 7.2% to trade at $0.5169, considering a minor pullback from $0.53. US SEC Drops Case Against Ripple Executives As XRP Price Explodes The US agency regulating securities, the SEC, has dropped the civil lawsuit against blockchain company Ripple Labs’ executives Brad Garlinghouse (the CEO) and Chris Larsen (executive chair) which has dragged on since December 2020. According to a filing the agency made in the US District Court for the Southern District of New York, the SEC sought to notify all involved parties in the case against the company “have stipulated to the dismissal with prejudice” indicating that a trial was not required. The filing did not touch on the case between the SEC and Ripple Labs which the latter partially won in early July. However, it stipulated that the two sides would need “to meet and confer on a potential briefing schedule concerning the pending issue in the case—what remedies are proper against Ripple for its Section 5 violations with respect to its Institutional Sales of XRP—and respectfully request until November 9, 2023, to propose such schedule to the Court or, if the parties cannot agree, to seek a briefing schedule from the Court on a contested basis.” Ripple executive Stuart Aldeorty, the firm’s legal officer, in response to the move by the agency, termed the move “a surrender by the SEC” and not a settlement. Meanwhile, Ripple in a statement referred to the the decision by the agency as a “stunning capitulation.” Today was an even better day. Ripple: 3 SEC: 0 In all seriousness, Chris and I…

---

Filed under: News - @ October 21, 2023 2:18 am