XRP (XRP) surged 96% in 24 hours on the 13th. The sale of XRP on a cryptocurrency (virtual currency) exchange was ruled not to constitute an investment contract, and it has seen the biggest gains among major crypto assets.
According to CryptoWatch data, XRP rose to 93.8 cents, the highest since March 2022, and then settled at 81 cents at the time of this writing (near the 80 line around 7:00 Japan time on the 14th).
This price movement is based on a decision by the United States District Court for the Southern District of New York that “the offering and sale of XRP on digital asset exchanges does not constitute the offering and sale of investment contracts.” It is in response to the statement that the requirements of the
Uphold, one of the few cryptocurrency exchanges where you can buy XRP, is experiencing problems “due to high demand,” according to its Twitter account.
｜Translation: CoinDesk JAPAN
｜Editing: Takayuki Masuda
｜Original: Ripple’s XRP Token Surges 96% After Partial Victory in SEC Lawsuit