As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I find myself quite intrigued by the recent developments surrounding Ripple and XRP. The court ruling in favor of Ripple Labs Inc. in the class action suit is undeniably a significant victory, potentially paving the way for a bullish future for XRP.
In a significant court victory, Ripple has triumphed in the class action lawsuit filed by XRP II LLC and its CEO, Brad Garlinghouse. This triumph offers a promising forecast for XRP’s market value, with analysts predicting it could surge even further upward.
Ripple Secures Major Win In Class Action Suit
In the Ripple Labs Inc. Litigation case, the court sided with the defendants (who were initially plaintiffs in the motion). The court granted a joint request for both filing the motion and postponing it as adjusted by the court. Essentially, the court recognized that the defendants had valid reasons for their uncontested motion. Additionally, the presiding U.S. District Judge pointed out that there was no compelling reason to further delay the judgment based on the available evidence and the arguments presented in the defendants’ motion.
As a result, the court has decided to record a verdict in accordance with the plaintiff’s class action suits that were ruled in favor of the defendants. This encompasses claims alleging that the defendants breached the Securities Act by failing to register and illegally selling XRP, as well as charges of control person liability against Ripple and Garlinghouse under the Securities Act.
In addition to the other two claims, the court ruled in favor of the defendants regarding:
In the meantime, Judge Phyllis Hamilton paused the Plaintiff’s lawsuit against the defendants concerning their request for remedy, waiting for the conclusion of any and all appeals regarding the class claims. This additional decision supports the notion that XRP isn’t considered a security, further reinforcing Judge Analisa Torres’ ruling from last year, which already established a precedent in this matter.
As a seasoned investor with over two decades of experience, I find myself constantly monitoring the crypto market for trends and developments that could potentially impact my investments. The recent announcement by SEC Chair Gary Gensler that he will resign in January 2025, just days before Donald Trump’s inauguration, has piqued my interest in the XRP price movement.
XRP Price To Surge?
Currently, the price of XRP appears optimistic and poised for further growth, according to cryptocurrency experts. In a recent post, crypto analyst Mikybull Crypto asserts that the upward momentum for XRP has already started, potentially taking it towards $2 in the coming days.
Currently, cryptocurrency expert CrediBULL Crypto believes that XRP aims to regain its place among the top three digital currencies by market capitalization. This signifies that XRP aspires to return to a position previously held alongside Bitcoin and Ethereum, prior to the Ripple SEC lawsuit in 2020.
Currently, as I’m typing this, the value of XRP is approximately $1.60 per unit, marking a rise of more than 6% within the past day, as indicated by statistics from CoinMarketCap.
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2024-11-30 01:41