Follow us on:

cc_icon

Ripple (XRP) Sees Upward Movement Following Recent Legal Wins and Payment License

⚠️ RIPPLE XRP WINS vs S.E.C ⚠️ 2 x More MASSIVE Wins For RIPPLE XRP!
⚠️ RIPPLE XRP WINS vs S.E.C ⚠️ 2 x More MASSIVE Wins For RIPPLE XRP!

Ripple (XRP) has seen a recent upward movement in price following a series of legal wins and the acquisition of a payment license in Singapore.

Legal Wins

On July 26, 2023, Judge Analisa Torres of the US District Court for the Southern District of New York denied the Securities and Exchange Commission’s (SEC) motion to appeal the Ripple ruling. The judge found that the SEC had failed to show that there were substantial grounds for a difference of opinion on the legal issues in the case.

This was a major victory for Ripple, as it means that the SEC’s case against the company is likely to be dismissed. The SEC had alleged that Ripple sold XRP as an unregistered security, but the judge found that the SEC had failed to prove its case.

Payment License in Singapore

On August 4, 2023, Ripple announced that it had obtained a payment license in Singapore. This license allows Ripple to operate as a major payment institution in Singapore, and it is a significant validation of Ripple’s business model.

XRP Price Movement

The price of XRP has seen a short-term upward movement following these recent developments. On August 5, 2023, XRP briefly reached a price of $54.75, which is its highest price since December 2021.

A one-hour chart of XRP indicates a short-term bullish move, with a target range of $51.45 to $58.83. However, it is important to note that the cryptocurrency market can be highly volatile, and investors should always do their own research before making any investment decisions.

Conclusion

Ripple’s recent legal wins and payment license in Singapore are positive developments for the company. The price of XRP has seen a short-term upward movement following these announcements, and it remains to be seen how the price will perform in the long term.

Leave a comment

Your email address will not be published. Required fields are marked *