Important dates for XRP community
Ripple faces crucial dates in its ongoing legal battle with the SEC, impacting XRP's market value.
Ripple is in a legal fight with the SEC. There are two key dates to remember.
After a big drop in the overall market, XRP's price went down. The SEC has made a new move against XRP.
Because of this, Ripple must reply by Sept. 1 and the SEC has until Sept. 8 to answer. These dates are very important for understanding XRP's legal position and its effect on its price in the market.
In the court documents, the SEC said their main concern was not about deciding if XRP is a security. They said they won't look into what XRP really is - just computer code with no real value.
This caused many people to sell XRP. Some worried its price might go under $0.50 for another day.
Even though XRP's price went up a little on Sunday and Saturday, it still went down by more than 16% in the last week. Looking at the price, XRP was worth $0.5277, which is 2.03% less than on Sunday.
