XRP Price Surges Following SEC-Related Decision

Ripple’s XRP is making headlines again. Check out the latest reports about the price of XRP these days.

The price of the digital asset is surging after a federal judge ruled that Ripple can proceed with one of its central arguments against the U.S. Securities and Exchange Commission (SEC).

Court documents show Judge Analisa Torres has denied the SEC’s motion to strike Ripple from using a “Fair Notice Defense.”

As you probably know by now, Ripple has long argued that the SEC did not give Ripple adequate notice that the agency considered XRP to be a security.

At the moment of writing this article, XRP is trading in the red and the coin is priced at $0.79.

In an interview with Fox News, Ripple general counsel Stuart Alderoty says the order is highlighting the validity of Ripple’s argument.

“Today’s order confirms that there is a serious question as to whether the SEC ever provided Ripple with fair notice that its distributions of XRP – since 2013 – would ever be prohibited under the securities laws. We will continue to fight hard in defending this case so that the industry can get the needed clarity it deserves to move forward and thrive.”

More than that, it’s been revealed that Judge Torres is denying Ripple CEO Brad Garlinghouse and cofounder Chris Larsen’s motion to dismiss the SEC’s individual charges against them.

Alderoty says he remains confident that the SEC’s allegations will be dismissed.

“While we would have preferred the cases against Brad and Chris to end now, the Court has decided to make the SEC prove its claims. We are confident that ultimately all of the SEC’s claims will be dismissed.”

Recently, we revealed that Ripple Labs wants to end its lawsuit with the U.S. Securities and Exchange Commission (SEC) by September or October of 2022. This is what a closely followed crypto legal expert said.

Check out our previous article for more details.