Main navigation

Here's How XRP Price Could Act If Ripple Wins Against SEC, Lawyer Assumes

Wed, 02/01/2023 - 09:21
article image
Gamza Khanzadaev
Ripple's court victory could lead to repeat of LBC's price action for XRP
Here's How XRP Price Could Act If Ripple Wins Against SEC, Lawyer Assumes
Cover image via
Read U.TODAY on
Google News

As became known yesterday, the U.S. Securities and Exchange Commission officially recognized that the sale of LBRY Credits (LBC) tokens on the secondary market was not a case of selling unregistered securities. Amid the positive news, the LBC price surged more than 80% and at one point was up more than 280%.

Ripple v. SEC: Favorable Precedent Could Be Set for Lawsuit Based on This Ruling in Ally Case

Now, pro-XRP activists and legal experts are using yesterday's LBC price hike as an example of what would happen to the price of XRP if the outcome of its fight turns out to be positive for the crypto sphere. A similar assumption was made by digital asset enthusiast and lawyer Bill Morgan.

Ripple, LBRY and SEC

The case of LBRY and its tokens is much like the litigation between Ripple and the SEC over XRP, where one of the charges is the sale of unregistered securities. When LBRY lost its trial with the commission earlier in 2022, many wrote that it was a serious blow to Ripple's position.

Ripple Sold $226 Million Worth of XRP in Q4, Here Are Other Key Insights

The case between Ripple and the SEC has now entered its third round, but it seems that the chances of ending this fight have never been as high as in 2023. The same hope is reflected by the crypto company in its latest quarterly report.

At this point, the parties are inclined to conclude the debate either through settlement or summary judgment.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.