After the past 3.5 years, the end of the Ripple-SEC case, one of the biggest uncertainties in the cryptocurrency world, remains a topic of curiosity. It is accepted as a fact that the XRP, at the center of the case between Ripple and the SEC, has been under significant pressure due to this process. Moments ago, a historic development occurred in the case, reminiscent of last year’s July-August period.
Current Status of the XRP-SEC Case
July 2023 was a complete comeback and a strong recovery period for XRP and Ripple executives. Judge Torres made a significant decision at that time, ruling that XRP was not a security, which caused the altcoin to soar.
Another significant event occurred moments ago. The judge ruled that XRP transactions on crypto exchanges do not constitute a securities offering, granting Ripple a partial victory. The SEC’s substantial punitive expectations seem unmet for now, as the judge only fined Ripple $125 million, causing a significant stir in the market.
What Is the Current Price of XRP?
Following the news, attention turned to the XRP price. XRP was continuing the week with a 16% drop, but things seem to be turning around. The price of XRP increased by 6% in the last hour and 3.53% in the last 24 hours, reaching $0.5304 at the time of writing, up from $0.50 before the court decision.
Following this news, XRP’s market volume also increased, reaching up to $29.7 billion. On the other hand, the news also triggered the 24-hour trading volume. It was observed that the market volume, which had dropped by 10% in the last 24 hours to $1.6 billion, started to rise following the news.
After the court decision last year, it was observed that XRP moved towards $1 but did not reach it. At that time, there was a significant stagnation in the market. Considering the crash on Monday that pulled all cryptocurrencies down, it seems that the question of what price level XRP will move to will remain a topic of curiosity.
