Ripple Wins Again: Court Says No to SEC’s Appeal Against Ripple

On October 3rd, Judge Analisa Torres said no to the U.S. Securities and Exchange Commission (SEC) who wanted to challenge a past decision related to Ripple Labs, a big company in digital money.

Earlier, on July 13th, Judge Torres decided that Ripple didn't break any laws when they sold their XRP token, a type of digital money. The SEC wanted to challenge this decision, saying it was important for many other legal cases. But, the judge didn’t agree and believed her previous decision was strong enough and an appeal wouldn't help to solve the case faster.

After the judge’s decision, XRP’s price went up by almost 10%. Santiment, a company that watches digital money markets, noted that XRP was acting differently than other digital moneys. Although it didn’t keep all these extra gains for long, XRP was the digital money that gained the most in 24hrs. At the time of writing, you could buy XRP for $0.5295 each.

There were also a lot more conversations online about XRP after the court's decision. Santiment saw that talks about XRP reached the highest point since Ripple’s first win against the SEC on July 13th. When there's a lot of talk and the price is going up, people think this is a good sign and the price might keep growing.

Looking at different signs in the market, it seems that more people are buying XRP than selling it, and it also has the money coming in that it might need to grow even more. Even though prices that go up fast can sometimes be risky, signs suggest that XRP's price movement is quite stable now. This could mean that XRP might keep doing well, but in the world of digital money, things can always change!

Not a Financial Advice