XRP Drops 5% on Dramatic Judge Ruling
The end may be in sight for the long-running court battle between the Securities and Exchange Commission (SEC) and Ripple Labs, though perhaps not in the way either side had hoped. Last week, Ripple -- the company behind XRP (CRYPTO: XRP) -- dropped its appeal after Judge Analisa Torres denied a joint request to backpedal on her original ruling. It expects the SEC to follow suit.
Let's dive in to find out what that might mean for investors, and what indicators to watch now that the legal proceedings are almost over.
The SEC sued Ripple Labs in 2020, claiming it had sold XRP as an unregistered security. Many saw the case as crucial for the whole industry, as it centered on how cryptocurrencies might be defined.
Source Fool.com
