XRP rose as much as 8% in the past 24 hours to lead recovery among crypto majors as broader equity markets declined ahead of key interest rate decisions this week.
The rise in XRP came as token issuer Ripple Labs said in a filing to the U.S. Securities and Exchange Commission (SEC) that XRP wasn’t a security subject to the regulator’s authority. Ripple sought dismissal of the suit before trial in federal court in Manhattan, arguing that XRP could not be considered a security because there was no “investment contract” that granted investors the rights to or require the issuer to act in their interests.
In a 2020 suit, the SEC accused Ripple of misleading XRP investors by failing to register its tokens as a security and not providing adequate disclosure – a claim that Ripple continues to defend.
Bitcoin (BTC), Cardano’s ADA, and ether (ETH) rose over 4%, while memecoins dogecoin (DOGE) and shiba inu (SHIB) increased a nominal 2%. Ethereum Classic (ETC) slid 15% as the hype around its...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...