Crypto News

This decision was seen as a win for Ripple and its supporters, with the price of XRP seeing a sharp increase following the news. What Led to the Lawsuit? The class action lawsuit was initially filed by a group of investors who claimed that XRP should be classified as a security rather than a currency. This classification would subject XRP to stricter regulations and oversight, potentially impacting its market value. The investors also alleged that Ripple had violated securities laws by selling XRP as an unregistered security. How Did Ripple Respond? Ripple vehemently denied the claims, arguing that XRP is not a security and that the company was not responsible for the actions of individual investors. Ripple also pointed out that XRP has been recognized as a currency by numerous government agencies and financial institutions, further supporting their argument. Impact on the Crypto Market The dismissal of most claims in the lawsuit was seen as a positive development for the cry...