XRP has caught a small bid following the news that the courts have sided with Ripple regarding the ongoing battle with the Securities and Exchange Commission.
US District Judge Analisa Torres has rejected the SEC’s appeal regarding part of the judge’s decision in its lawsuit against Ripple pertaining to the sales of XRP.
The CEO of blockchain firm Coincover, David Janczewski, shared the following comment on the aforementioned events:
“As we witness the recent rejection of the SEC’s appeal against Ripple, the crypto market is responding with enthusiasm, with XRP up 4%.
It’s fantastic to see Ripple bat away the SEC’s legal action. This further underscores the urgent need for clear and well-defined regulations. The surge in XRP shows that regulatory clarity is a catalyst for market confidence and will create the responsible growth that policymakers want to see.
A more pragmatic stance would be beneficial. Rather than implementing strict measures and legal barriers, a collaborative approach with the industry to establish clear definitions and guidelines would be more constructive. Recent ambiguities in their approach have led to confusion among market participants and, unfortunately, have prompted numerous crypto firms to reconsider their involvement in the US market.”