Ripple (CCC:XRP-USD) is seeing its price increase on Monday following an update for the ongoing lawsuit against it from the U.S. Securities and Exchange Commission (SEC).
The SEC lawsuit against Ripple Labs was responsible for a drop in the price of the cryptocurrency. This lawsuit alleged that the crypto was a form of unregistered securities. This also saw it removed from many cryptocurrency exchanges.
However, recent statements are reigniting home in crypto investors that Ripple will make its way back to exchanges. This comes after Ripple Labs’ attorney Jeremy Hogan revealed that a statement from Magistrate Judge Sarah Netburn indicates that XRP investors outside of Ripple Labs aren’t trading illegal securities.
So what does that mean for investors in XRP? To put it simply, those comments suggest that cryptocurrency exchanges can start listing XRP tokens again without worry of legal action from the SEC. That, in turn, is why XRP is up today as investors believe exchanges will allow the crypto back.
Here’s the quote from Hogan about the judge’s comment.
“That means that the exchanges that delisted XRP two months ago were not and would not be violating securities laws if they relisted XRP for sale and began to sell it again.”
With hopes high for Ripple, investors are also interested in knowing how high the price of XRP can go. Luckily, we’ve got a collection of recent XPR price predictions that crypto investors can check out at this link. Investors that aren’t clear on what Ripple is to begin with can get up to speed here.
XRP was up 15.9% as of Monday afternoon and is still up 160.6% since the start of the year despite the lawsuit news.
Ripple is only one of the major cryptocurrencies that has been making rounds in the news lately.
Bitcoin (CCC:BTC-USD) is, of course, among the biggest cryptocurrencies being talked about, but it’s far from the only one. In fact, the overall crypto market is of interest and could be set for major growth. Any investors interested in cryptocurrencies should check out the following content from InvestorPlace.com.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.