XRP Price Spikes Over 13% As SEC Drops Crypto Case Against Ripple
- Ripple announced that the SEC’s lawsuit against the firm is over.
- Ripple Labs’ XRP cryptocurrency spiked over 13% on the news.
- It is another indicator of shifting regulatory tides for crypto under the Trump administration.
The US Securities and Exchange Commission is dropping its case against Ripple, the blockchain firm that fell into regulatory crosshairs over its issuance of the XRP cryptocurrency.
The case, brought by the SEC under President Joe Biden, claimed that XRP was an unregistered security. Industry players said that a win by the regulator would have fundamentally reordered the crypto space by defining most tokens as securities under the purview of the SEC and forcing them to…
