Following the announcement of a judge's ruling in the case between Ripple Labs and the United States Securities and Exchange Commission (SEC), XRP, the cryptocurrency powering Ripple's payments ecosystem, experienced a significant surge of approximately 29% within an hour. According to CoinGecko data, the current price of XRP is above $0.60, indicating a remarkable increase of nearly 29% within the past 24 hours.
Prior to this development, the coin had been trading at around $0.47 throughout the day. It remains uncertain what implications this ruling will have in the long run. The judge's decision stated that programmatic sales of XRP do not meet the criteria for securities, while institutional sales of XRP do classify the coin as a security. This ruling potentially introduces a new paradigm, wherein the classification of a cryptocurrency as a security could be influenced by the sales methods employed, as well as the marketing and messaging strategies associated with it.
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