What the numbers say: The price of XRP surged over 65% this week, following a ruling in which a judge said the cryptocurrency does not always qualify as a security. Relevance: The ruling stems from a lawsuit filed in 2020 by the SEC against Ripple, the company behind XRP. District Judge Analisa Torres ruled that Ripple did not violate securities laws by selling XRP on public cryptocurrency exchanges. However, she said Ripple broke the law by selling XRP directly to hedge funds and other institutional investors. After the ruling, Coinbase said it will resume selling XRP on its exchange. |
