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Because of the likely outcome of Ripple’s case against the US Securities and Exchange Commission, investor demand for XRP has been exceptionally strong. The court case in which the SEC argues that Ripple offered XRP as illegal securities have generated much hope.

SEC vs. Ripple

According to court filings, Judge Analisa Torres has allowed XRP to respond to the SEC’s Memorandum of Law supporting the Motion to Strike fair notice defense. The lawsuit between Ripple and SEC began in December 2020.

In a dramatic turn of events, a federal court judge has declined to seal evidence against XRP in the public’s interest. Instead, the judge ordered that three exhibits be made public, and two drew a lot of attention from the public.

Exhibit 179-4 depicted XRP CEO Brad Garlinghouse speaking to staff about XRP holders’ expectations of the digital asset. The exhibit also discusses its choice to place 55 billion XRP in escrow to alleviate concerns.

Exhibit 179-5 shows Chris Larsen, a Ripple co-founder, discussing XRP price fluctuations with an XRP holder. Following the release of both exhibits, the SEC may decide to assert that Ripple sold unregistered security offerings.

However, the Ripple counsel may claim that Brad’s words were intended for workers rather than future XRP holders. In addition, Carlos, a Portuguese national, is Chris Larsen’s counterpart in the email chain. Because XRP sales to non-American nationals do not fall under the purview of the Securities Act of 1933, the SEC does not regulate them.

The value of XRP rises

Following the case’s reversal, the cryptocurrency community is waiting to hear whether Ripple’s fair defense will be successful. In the meantime, XRP has risen by more than 25% in the last 24 hours.

According to Coinmarketcap statistics, the number of transactions climbed by 160 percent throughout the investigated time, with the tokens’ value changing hands at $5.52 billion. XRP’s price has risen significantly in the last few hours, bringing its market capitalization to around $42 billion, putting it ahead of Cardano and Solana.

RippleNet transactions have nearly tripled, with a more than $10 billion payment volume run rate. According to CoinMarketCap, the price of XRP increased from $0.60 on Thursday to $0.90 on Tuesday. Later, on Tuesday morning, XRP slipped somewhat from these highs, valued at $0.85. (up 12.6 percent in the previous 24 hours).

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